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Ritesh Deshmukh

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Solving the Insurance Application Challenge: Going Beyond OCR

Posted by Ritesh Deshmukh on Jan 24, 2020 3:00:00 PM

Optical character recognition (OCR) is a decades-old technology that converts scanned images to text, and it has played an important role across many industries throughout the years. But when it comes to digitizing applications for commercial insurance underwriting, OCR is just the first step of the innovative process. Having worked extensively with the improvement of the insurance application process, I would like to give some thoughts on ways to improve underwriting productivity. Artificial Intelligence (AI), and specifically machine learning, can take the intake process well beyond OCR, making it possible to capture data accurately from scanned documents, derive meaning from that data, and apply it in ways that make the underwriter’s job easier and more profitable.

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Topics: Engineering, Machine Learning, Intake