An American third-party claim adjusting (TPA) company followed a cumbersome manual paper-based claims adjustment process. They were looking for an intelligent document processing software solution to automate the process. Â
The company usually receives thousands of claims every week, and executives would manually extract the required information and key them into the data processing systems. The company wanted to eliminate this process and replace it with an automated data capture and extraction solution for end-to-end data processing management.Â
The ChallengeÂ
The company followed traditional paper-based practices for processing claims, and an operations executive would take an average of 18 minutes for processing an inbound document. This created an annual productivity loss worth $14,000 per executive. The company approached Nuvento for improving operational efficiency and reducing the overall cost of claims handling.Â
Our SolutionÂ
The client was reliant on multiple manual processes right from checking emails for claims submissions to entering claims data into their data processing systems for claims processing. Needless to say, the process was time consuming, and the possibility of errors were high. By introducing NuOCR, we aimed at improving the efficiency of the data workflow, while also ensuring minimal disruptions to the processing activities. Â
The insurance third-party adjuster company received lots of claims through email with loss notices attached. So, we created a protocol where, the NuOCR system would scan incoming emails and download attachments in mails that met the criteria set in the system. NuOCR’s automated data capture system would then extract the required data from there attachments and feed that data to the data processing systems for further analysis. Â
This system completely eliminated the need for employees to manually enter data, thereby reducing manual error. And it simplified the process and reduced expenses it earlier incurred.  Â
Project HighlightsÂ
Improved operational efficiency
Improved operational efficiency and reduced overall cost by 60%
Reduced reconciliation cost
Processes became faster, with less human errors and more reliable outputs through automated onformation workflow
Increased organizational productivity
The company could process 3000 additional loss forms for one publisher per week thereby focusing more on value-added business processes
System integration
NuOCR could be integrated into the company's system without disrupting the already existing legacy system
Truly enterprise grade
Improved accuracy and operational efficiency document processing by 100% safeguarding highly sensitive data contained in those document
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