Artificial Integrates ACORD Transcriber within Its Underwriting Platform

By automating data extraction enables Artificial to process all ACORD Form types alongside existing supported files in its underwriting platform.

(Image source: ACORD Solutions Group.)

Artificial, a London-based algorithmic technology provider, has added ACORD Transcriber to its suite of machine learning and generative AI data extraction tools for its clients in the commercial and specialty insurance space.

ACORD Transcriber is ACORD Solutions Group’s (London) intelligent document processing solution for fast, accurate data extraction and digitization from any structured or unstructured insurance document, including the full library of ACORD Forms. By licensing ACORD Transcriber, Artificial enables its clients to automate even more of their data extraction, reducing the need to manually rekey information into their solutions, according to a statement from the company.

Artificial says that implementation of ACORD Transcriber allows the company to further streamline underwriting workflows with organizations that send and receive ACORD Forms, improve data accuracy, and reduce the cost of data processing. As an existing member of the ACORD Solutions Group Licensed Integrator Partner program, Artificial says it will further connect with clients in the London Market to facilitate accurate data extraction, on top of its existing machine learning and generative AI capabilities.

“Integrating ACORD Transcriber is fantastic for Artificial, enabling us for the first time to process all ACORD Form types alongside our existing supported files in our platform,” said Alexis Renaudin, Head of Data, Artificial. “This automation further streamlines the entire underwriting workflow for our clients—from initial document reception from brokers to data extraction and decision-making. It dramatically cuts down the time spent on manual data entry of complex forms to a matter of seconds, accelerating our ability to deliver precise and rapid decisions, for the benefit of our brokers and underwriting partners.”

Chris Newman, EVP, Global Managing Director, ACORD.

Fast, Accurate Data Extraction Capabilities

“It is through partnerships with organizations like Artificial that ACORD Solutions Group can continue to reach London Market stakeholders with fast, accurate data extraction capabilities,” comments Chris Newman, EVP and Global Managing Director, ACORD Solutions Group. “We are pleased to facilitate the seamless processing of insurance documents to clients leveraging Artificial’s underwriting platform, further enabling efficiency and accuracy within the insurance space.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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