SAN JOSE, CA--(Marketwired - May 6, 2014) - ISCS is pleased to announce that an enhancement to the company's industry-proven, modern enterprise suite, SurePower Innovation, which automatically extracts data from structured and unstructured documents is now available.
"The timely consumption and utilization of external data is an ongoing struggle for insurers," said Doug Moore, vice president and CTO for ISCS. "Now, SurePower Innovation offers a flexible, streamlined alternative to error-prone, manual data re-entry. By unifying and optimizing the intake process, insurers will realize greater cost savings with faster access to the growing list of important external sources of information."
The data intake functionality available through ISCS's SurePower Innovation enables:
- The automatic extraction of structured and unstructured data from documents such as PDFs, images, ACORD forms, Excel spreadsheets, loss reports, and motor vehicle reports (MVRs);
- Conversion of data into custom, pre-defined insurer data formats or pre-fill of insurer's downstream application screens for validation;
- Rapid intake from multiple attached documents in an asynchronous mode that allows the user to complete other work during the process; and
- Elimination of manual data entry.
By utilizing pre-built templates to locate and extract information from both company-designed and industry-standard forms, such as ACORD, the highly-configurable data intake functionality streamlines the business user experience. Further, it allows extraction of data from Excel spreadsheets even if the final format is unknown. This capability, combined with SurePower Innovation's robust workflow and email integration, allows for an emailed insurance application to have data automatically extracted and populated into the system, and then for a notification to be triggered so the application is sent for review. Following an underwriter review, a quote can be prepared or a policy issued. This improved data intake functionality ultimately delivers operational efficiencies and cost savings to insurers by speeding up the process and reducing potential errors typically experienced with manual data entry.
ISCS's enhancement of the data intake functionality complements the flexibility inherent to all pre-integrated components of SurePower Innovation, a modern enterprise suite designed specifically to fit the needs of property and casualty (P&C) insurance companies. SurePower Innovation modules include both cutting-edge and industry-standard functionality, and can be implemented independently or as a full suite. ISCS offers SurePower Innovation as a complete managed SaaS solution in the cloud via ISCS's SurePackage deployment option.
ISCS is the developer of SurePower Innovation®, a highly-scalable, configurable modern enterprise suite that mitigates risk and increases business agility for property and casualty (P&C) insurance organizations writing personal, commercial and specialty lines. Through SurePower Innovation, ISCS leverages the latest technology to automate policy, billing, claims, underwriting, reinsurance, insurance accounting, payables, document management, producer/commission management, agent/consumer portals and more. SurePower Innovation modules can be implemented independently or as a suite, and can be delivered as a complete managed SaaS solution via the ISCS's SurePackage deployment option, allowing insurers to focus on the business of insurance. For more information, contact Phil Iaccarino, Director of Marketing for ISCS, at 888-901-ISCS or firstname.lastname@example.org.