(Image source: Roots Automation.)
Roots Automation (New York City), a global intelligent automation vendor offering “Digital Coworkers” for the insurance industry, has announced the release of InsurGPT, which the vendor touts as the world’s most advanced fine-tuned Generative AI model, designed specifically for the Insurance market. Roots Automation describes InsurGPT as further expanding the natural language capabilities of Digital Coworkers by utilizing proprietary, fine-tuned Large Language Models (LLMs) to read and accurately extract data across:
Chaz Perera, Co-Founder and CEO, Roots Automation.
- Structured documents: ACORD forms, medical claim forms, etc.
- Unstructured documents: insurance applications, loss runs, quotes, first notices of loss, demand packages, general correspondence, etc.
InsurGPT utilizes a deep corpus of insurance specific data and documents alongside systems and process knowledge to significantly improve the accuracy, speed, and validity of data extraction and inferencing, while reducing false-positives—so-called “hallucinations”—that non-industry specific Generative AI models produce, according to a Roots Automation statement on the launch.
The vendor describes InsurGPT as designed by insurance operators for insurance operators and is natively embedded in all of Roots Automation Digital Coworkers. Each interaction between a human and Digital Coworker improves the InsurGPT model, benefiting all customers, the vendor says.
“We have fundamentally imbued our Digital Coworkers with deep insurance experience and knowledge through InsurGPT,” comments Chaz Perera, Co-founder and CEO, Roots Automation. “InsurGPT removes the need for templates or heavy OCR [optical character recognition] configuration to analyze and process business documents, it simply reads insurance documents like a human would and produces accurate results, fast and at scale.”
TPA Success Story
The vendor reports that Roots Automation Digital Coworkers utilizing InsurGPT are already delivering real results for Insurance operators. For example, a national third-party administrator is using InsurGPT to scale its First Notice of Loss process, according to Roots Automation. The vendor says the TPA was challenged with standardizing claim setup and document handling processes while servicing the varying needs of carrier partners and customers.
John Cottongim, CTO, Roots Automation.
Traditional hard-coded rules, decision logic, and templates failed to effectively factor for document complexity and the idiosyncrasies of carrier partner/customer special account instructions, the vendor says. However, using InsurGPT allowed the TPA to work with non-standard instructions and documents within the FNOL process, resulting in greater accuracy without requiring a change to the underlying process, Roots Automation asserts.
Insurance-Specific Application
“Critical to the development of InsurGPT was the fundamental belief that while companies like OpenAI and Google—and the entire open-source community—have created something great, they are not interested in going deep into the Insurance sector—nor have they considered the security, data privacy or heavily regulated nature of the insurance space. We have,” comments John Cottongim, Co-founder and CTO of Roots Automation. “Importantly InsurGPT is constantly improving through the real-time interactions between our Digital Coworkers and our Customers’ teams.”