New Novarica brief provides an overview of intelligent text ingestion software solutions; profiles 17 prominent providers
Boston, MA (Dec. 1, 2020) – Insurers in the US collectively process millions of documents annually across most of their business processes. In a new executive brief, Intelligent Text Ingestion: Overview and Prominent Providers, research and advisory firm Novarica outlines the two types of problems that intelligent text ingestion (ITI) software solutions attempt to solve, as well as provides profiles of 17 vertical and horizontal industry solution providers that offer technology solutions for unstructured text extraction, classification, and related tools.
“As much as insurers would like to eliminate paper or paper images, some aspects of the business are still a long way from being fully digitized,” said Deb Zawisza, Vice President of Research and Consulting, and lead author of Novarica’s new report. “Intelligent text ingestion provides an opportunity to take advantage of fully digital processes without fully digital input.”
Vendors profiled include AWS, ABBYY, ACORD, Automation Hero, Chisel AI, Cinnamon AI, Coforge, CogniSure, Convr, Friendly, Google, Groundspeed Analytics, Hyperscience, Intellect SEEC, Microsoft, omni:us, and Vidado.
Click here for the table of contents or to access the report.
Report Summary
This report provides an overview of intelligent text ingestion software and profiles 17 vertical and horizontal industry solution providers that offer technology solutions for unstructured text extraction, classification, and related tools. Tools for identifying, extracting, and processing semi-structured and unstructured text have proliferated in recent years. Several such tools now exist in both insurance-specific and horizontal forms. Many insurers use them to tackle heavily manual processes in new business applications, loss runs, exposure data, and claims.
As these solutions evolve, they are also providing benefits beyond ingestion, including handwriting recognition, data enrichment, and uses to automate and modernize entire workflows.
Click here for the table of contents or to access the report.
About Novarica
Novarica helps more than 100 insurers make better decisions about technology projects and strategy. Its research covers trends, best practices, and vendors, leveraging relationships with more than 300 insurer CIO members of its Research Council. Its advisory services provide enterprise phone and email consultations on any topic for a fixed annual fee. Consulting services range from assessments and strategic roadmaps to vendor evaluations. For more information, visit www.novarica.com.
Source: Novarica
Tags: ACORD, Artificial Intelligence (AI), Chisel, digital document solution, digitization, document management, eDoc, Google, Groundspeed, Microsoft, Novarica
