Intelligent Automation Provider Captricity Relaunches as Vidado

New company leadership seeks to amplify market successes and further enhance delivery capabilities of intelligent automation (IA) solutions to insurers.

(Image source: Vidado homepage.)

Vidado has been chosen as the new name and relaunch of the intelligent automation (IA) solutions vendor formerly known as Captricity. The Oakland, Calif.-based vendor, provides insurers and companies in the financial services and pharmaceutical industries solutions that create opportunities for straight-through processing (STP), increased productivity, and lower operational costs through reductions in time spent on manual tasks.

Nowell Outlaw, CEO, Vidado.

“The transformation of Captricity into Vidado comes at a time when intelligent automation is poised to transform the way human beings interact with and utilize technology across many industries,” comments Nowell Outlaw, the newly-appointed CEO of Vidado. “In a newly digital-first world, artificial intelligence (AI), machine learning, and deep learning solutions are a natural place for enterprises to allocate budget dollars and to expect a significant return on investment.”

The company’s new brand, Vidado, was chosen to reflect the move of modern businesses toward transparency, speed-to-market, and customer-centricity, and builds on the company’s strongest quarter in company history (Q4 2018) and strongest year overall (2018) in terms of financial performance and customer acquisition, according to a company statement on the rebranding. In 2018, Vidado reports that it also completed the company’s AI-powered product suite by bringing the first handwriting recognition software capable of surpassing human quality and exceeding any previous rates achieved by text transcription or OCR software to market as Vidado Read. Using Vidado Read, enterprises can turn handwritten or printed materials and data into automation-ready information at a fraction of the typical cost, according to the statement.

No-Human-Touch Processing

Vidado describes its suite of intelligent document automation solutions as providing customers the ability to significantly move the needle toward no-human-touch processing through market-leading products. The suite includes the following components:

  • Vidado Vision (document intake, sorting, and preparation);
  • Vidado Read (data digitization);
  • Vidado Review (human review of any information below confidence thresholds); and
  • Vidado Transform (data validation, enrichment, and delivery).

“The consumption or normalization of data is one of the biggest business challenges facing companies across all industries,” Outlaw adds. “By making traditionally analog data available as digital assets, our customers are achieving dramatically improved processing times and better meeting modern customer expectations, without the time and expense of re-engineering hundreds of manual processes.”

Vidado says that, by utilizing a robust, open API layer, its solutions can be easily integrated into existing IT environments and provide an almost immediate return on investment (ROI). The company says its cloud-native product platform allows for rapid implementations and speed-to-market and has been implemented successfully in more than 100 live customer environments.

2019: AI Steps Out of the Headlines, into Practical Solutions

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 [email protected] or (503) 936-2803.

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