Insurance & Healthcare Automation
Automate complex insurance processes like claims processing and underwriting, from input to actionable data.
Insurance leaders are leveraging intelligent automation to reduce costs, mitigate loss risks, and stay competitive with their peers.
The Hyperscience Platform helps you to quickly and accurately parse through unstructured document formats to accelerate claims processing, enrollment & underwriting, and account servicing to better serve your customers when they need it most.
Processing various insurance claims, rendering a decision and issuing a payout requires pages of forms and complex supporting materials. For example, P&C insurance decisions are contingent on unstructured data contained in police reports, collision and damage images, repair estimates, and an adjuster’s report. Manually processing and parsing through information that arrives in disparate entry points and from multiple sources results in unnecessary clerical errors, delayed decisions, and unhappy customers.
The Hyperscience Platform can automatically classify and extract critical information across healthcare insurance, property & casualty insurance and more – from ACORD forms, CMS 1500 and 1450s/UB-04 forms, and ADA Dental claim forms. Additionally, Hyperscience is able to validate submitted information against master data, confirm line items sum to total charges and then package and send a claim for approval or further review. All while automatically assigning Supervision tasks and/or sending incomplete packets with missing information to your exception-handling system or specific teams for review.
Enrollment & Underwriting
To handle the increase in volume during enrollment periods, firms typically hire and train seasonal or temporary workers to manually process open enrollment documents. This is an untenable solution in the long-term, costing companies additional time and money spent on paperwork, training and onboarding. Additionally, manual data entry increases the risk of clerical errors, leading to rework and delayed decisions.
The Hyperscience Platform automatically classifies diverse documents including life insurance applications, medical exam questionnaires, accompanying regulatory disclosures, and supporting information, freeing up resources for enhanced decision making and customer-facing activities.
Accurate data is the critical step zero to being able to automatically process account maintenance requests, beneficiary updates, or address changes.
Trained on real-world documents, the Hyperscience Platform can accurately classify and extract sensitive data from structured, semi-structured and unstructured documents despite coffee stains, fax marks, and other degradations. Additionally, once the data is extracted, you can validate fields against external systems to compare an extracted address to the data you have on record. Hyperscience can then package and send the data to specific teams, operating systems, or systems of record for faster decision-making.