Use Case SP
Intelligent Slip Data Extraction
N/A
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Challenges
- Underwriters manually review slip documents to locate and extract key information.
- The process of manually re-entering data from the slip into underwriting platforms is inefficient and time-consuming.
- The average manual processing time is approximately 30 minutes per slip, creating significant delays in the submission process.
- Maintaining the accuracy and precision of the data during manual transcription is a constant operational challenge.
Solutions
- A solution built on Microsoft Power Platform and AI Builder automatically extracts crucial data fields from slip documents.
- Underwriters can submit processing slips through two streamlined channels: a monitored mailbox or a custom UI.
- The UI allows underwriters to view the extracted fields, compare them side-by-side with the original document, and easily amend any incorrect data.
- A feedback loop is integrated into the process, which uses corrections made by the underwriter to retrain the AI model and improve its accuracy over time.
- Extracted data is stored in SharePoint and structured for automated input into downstream underwriting platforms.
Benefits
- The AI model demonstrated an average accuracy of 82%.
- Eliminates the need for manual data re-entry, streamlining the overall submission process for underwriters.
- Improves model performance and data quality over time through an integrated feedback loop where user corrections are used for retraining.
- Creates a structured and automated data flow into underwriting platforms, reducing errors and increasing efficiency.
This use case focuses on automating the extraction of key data from slips and similar documents using Intelligent Automation and AI. Instead of manual data entry, documents are ingested, relevant fields (such as dates, amounts, and identifiers) are identified, and data is extracted with high accuracy. A built-in feedback loop continuously improves the system by learning from corrections and new data over time. The extracted information is validated and integrated into downstream systems, enabling faster processing, reduced errors, and enhanced operational efficiency.
Underwriters (Specialty Insurer)
- Microsoft Power Platform
- AI Builder
- Large Language Models (LLM)
- UiPath Document Understanding
- SharePoint
- Outlook
- Web App
- Underwriting Application
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