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 slips for processing 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.​

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