Relevant Data for Informed Decisions
With greater access to information, insurers have to handle massive volumes of data in both paper and electronic formats. This data is often unstructured, making it difficult to utilize for data-informed decisions.
Omniscience's Customer Intelligence unlocks essential information from multiple sources to create efficiencies in your business processes. Customer Intelligence determines relevant data and extracts it for straight-through processing or triage underwriting.
Omniscience acquires material data from numerous sources to create a comprehensive profile of an applicant. While some applicant data is structured and ready to use, much of the relevant customer information is locked within scanned unstructured or tabular documents. OmniExtract does much more than just OCR these documents — it transforms them into structured data ready to be used in automated decisioning and analytics. OmniExtract can extract all the data values from lab reports, para-med forms, disclosure forms and health check forms. It also has the unique ability to extract data from low resolution forms written in Japanese and Chinese languages.
OmniProfile builds the full picture of each applicant to sufficient fidelity to reliably make an underwriting decision. OmniProfile merges all the applicant information into a comprehensive portrait ready for human underwriters or the automated underwriting system. OmniProfile then organizes the information into an illuminating timeline, charting an applicant’s health and well-being, and building the foundation for accurate prediction.
OmniProfile is a reflexive system that identifies material gaps in information and alerts the agent or case manager when additional information is needed, such as a para-med visit, lab test or financial record. OmniProfile leverages OmniExtract and the underwriting automation to immediately determine if enough information is available for a reliable conclusion or if additional information is needed.
Whether your data source is in a paper or electronic format, use Omniscience's mobile SDKs to capture and extract the necessary information needed for the applicant profile. OmniMobile enables information from a para-med visit to go directly into our decision engine. This provides instant feedback to the para-med and any conditional tests to the applicant.