Automate Document Intake with AI using Kanverse.ai’s New Guidewire Marketplace App

Guidewire and Kanverse.ai (Kanverse) announced that Kanverse’s new Ready for Guidewire validated accelerator is now available to PolicyCenter users in the Guidewire Marketplace.

Recommended AI News: Riding on the Generative AI Hype, CDP Needs a New Definition in 2024

“C************** to Kanverse on the release of its new PolicyCenter app”

Powered by its patented, proprietary multi-stage artificial intelligence (AI) engine, Kanverse provides end-to-end automation of insurance document processing for insurers. Its technology ingests and extracts data from a variety of insurance documents with up to 99.5% accuracy, validates the documents with business rules to filter unwanted risks, then files the extracted data into Guidewire. The Kanverse user interface is intuitive and highly collaborative, allowing users to communicate with each other within the platform. Kanverse’s powerful AI can adapt to changes in the intake documents and learn from users using auto-learning.

With Kanverse’s Accelerator for Submission Intake, insurers can:

• Automatically file the extracted data directly in PolicyCenter;
• Reduce cycle times from days and weeks to minutes;
• Reduce operational costs and manual labor through Kanverse’s automation; and
• Focus resources on strategic activities and write more policies without impacting quality with resulting boosted productivity.

Kanverse can extract data from a wide range of documents, including ACORD documents, custom forms, supplemental forms, loss run reports, statement of values, and quotation request slips. It can also extract from various document formats with extremely high accuracy, like structured, semi-structured, and unstructured documents in Excel, PDF, Word, and image formats.

Recommended AI News: Cloudflare’s R2 Is the Infrastructure Powering Leading AI Companies

“The inconvenient, highly manual submission intake process is tedious, time consuming, error-prone, and causes unprecedented delays and bottlenecks for insurers,” said Dr. Akhil Sahai, Chief Product Officer, Kanverse.ai. “Our powerful technology completely transforms this process, reducing operations costs while eliminating redundant, labor-intensive data entry and allowing insurers to focus their resources on strategic activities.”

“C************** to Kanverse on the release of its new PolicyCenter app,” said Will Murphy, Vice President, Global Technology Alliances, Guidewire. “Kanverse modernizes document intake for insurers. Making AI the cornerstone of its advanced technology ensures accuracy and adaptability as the industry evolves, helping to future-proof insurers for years to come.”

Read: Alteryx Launches New Alteryx AiDIN Innovations to Fuel Enterprise-wide Adoption of Generative AI

[To share your insights with us, please write to sghosh@martechseries.com]