(Image source: Pixabay.)
WCF Insurance (Salt Lake City), the largest workers’ compensation insurer in the state of Utah has announced that it will integrate DataCubes d3 Intake into its underwriting processes to improve productivity, speed and accuracy.
Through WCF’s engagement with DataCubes (Schaumburg, Ill.), the insurer’s underwriters will use DataCubes’ computer-vision technology to process ACORD forms and loss-run documents, which can be hundreds of pages of structured and unstructured data, the vendor notes. Through machine learning, d3 Intake replaces manual data entry and offers the ability to analyze inputs in near real-time in order to find missing information and to resolve quality issues, the vendor says. The result, according to DataCubes, is that the submission process, which typically takes days and sometimes weeks, can often be completed in a matter of minutes.
“We are always looking to optimize and improve our processes, and with this underwriting automation technology, we are going to be able to solve a big productivity challenge,” comments Gwen Church, VP of Underwriting, WCF Insurance. “We look forward to offering our agents an improved experience that allows for increased speed and greater accuracy.”
Improving Efficiencies, Workflows and Margin
“We’re thrilled at the opportunity to partner with WCF and to help them deliver an exceptional customer experience in a low-touch manner and at unprecedented speed,” said Kuldeep Malik, DataCubes co-founder and CEO. “Our platform is going to significantly improve not only their efficiencies and underwriting workflows, but also their margin.”