Kanverse Delivers Industry Leading Autolearning Capabilities, Delivers End-to-End Insurance Document Processing Offering, and Much More!

Kanverse, a Hyperautomation company, has announced the global launch of the Hematite release of its patent-pending AI-powered Intelligent Document Processing Product for Enterprise.

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“With Hematite release, we are empowering our customers with autolearning. This is a game-changer. We are also delivering the power of AI and automation to Insurance customers now with the latest capabilities, Kanverse is uniquely positioned to deliver unprecedented business and process benefits to all our customers.”

Hematite release brings industry leading Autolearning to help organizations process new document types with up to 99.5% extraction accuracy. Customers do not need to have costly time-consuming engagements to train new documents. With the Hematite release Kanverse:

• Gives the power to train new unseen documents to Kanverse customers. Users can now simultaneously process and train new document types on their own.
• Enables automated model training routines, performance benchmarking, and update of AI model based on user training.

With Hematite release, insurance underwriters can now process and combine data from multiple ACORD forms simultaneously for a single submission.

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• Kanverse enables multiple documents to be processed as a single package. Kanverse can now ingest different documents (For example, ACORD 125, ACORD 126, supplemental forms) and process and visualize them as a single package and publish them to systems of records.
• It reduces process cycle time, saves costs, and prevents manual data processing errors.

Kanverse IDP combines multiple AI (Artificial Intelligence) technologies with Optical Character Recognition (OCR) and Automation to provide an end-to-end product that digitizes document processing for enterprises from ingestion, classification, extraction, validation to filing. The entire process is powered by Natural Language Processing (NLP), Fuzzy Logic, and advanced Machine Learning (ML) algorithms to make business processes more efficient, optimize cost, abolish human error, and mitigate risk.

Hematite release delivers major benefits to Majesco customers. It brings to market out of box integration with Majesco insurance software; using which, Majesco customers can install and deploy Kanverse across their business environments and enjoy seamless insurance forms processing with 99.5% extraction accuracy.

Karan Yaramada, CEO of Kanverse.ai said, “With Hematite release, we are empowering our customers with autolearning. This is a game-changer. We are also delivering the power of AI and automation to Insurance customers now with the latest capabilities, Kanverse is uniquely positioned to deliver unprecedented business and process benefits to all our customers.”

“Auto-learning is a path-breaking innovation by Kanverse. It puts the power of directing our AI engine in the hands of our customers. Customers can train the AI engine on their own without requiring any services engagement to train new documents. This is how AI-powered automation should be and Kanverse delivers it with the Hematite release,” said Dr. Akhil Sahai, CPO and founding member of Kanverse.ai.

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