AntWorks this week said it has launched a new solution aimed at insurance companies that will enable them to optimize their document processing. The Singapore-based company worked with one of the world’s largest insurance brokers to develop Insurants—an AI model that, combined with intelligent document processing technology, will enable commercial insurance companies to automate data extraction and entry formerly done manually.
AntWorks said it partnered with Marsh McLennan to train the model on tens of thousands of insurance-related documents so it would understand the “semantics and heuristics” of the industry enabling the technology to classify, extract and digitize data from structured and unstructured sources.
The company said it has integrated Generative AI capabilities in the new solution that “facilitates complex search and comparison of key terms and clauses against a benchmark text. In this way, Insurants is enabling insurers to streamline their workflows, significantly reducing processing time and enhancing data accuracy.”