OCR Application – An Inevitable Trend in the Insurance Industry

OCR Technology Trend

OCR, or Optical Character Recognition, is a technology for optical character recognition. It can be understood as the process of converting an image, PDF file, or scan into editable text data that can be used for other tasks. Developed on an AI technology platform, OCR can also recognize special characters, typed text, handwriting, checkboxes, stamps, and more.

OCR technology has existed for a long time but has only truly become a trend in recent years alongside the explosion of AI. Applying OCR in the document digitization process has helped businesses eliminate manual data entry. This improves productivity, optimizes work efficiency, and saves time, money, and effort.

Application of OCR in the Insurance Industry

Insurance is a sector characterized by many types of documents and complex operations that require handling. Applying traditional manual data entry processes consumes a lot of time and dozens of personnel. Moreover, manual data entry carries a high risk of errors, such as data mistakes and input inaccuracies, which significantly affect the entire operational process. Not to mention the possibility of document loss or misplacement during storage and management.

OCR technology has brought the insurance industry a smart, efficient, and cost-saving solution for digitizing the entire data entry process. Insurance companies can apply OCR technology to standardize input information, extract necessary data from identification documents, customer information forms, contracts, and more. The entire customer insurance dossier is digitized, editable, and can be quickly and conveniently updated.

Applying OCR also helps insurance companies provide customers with a better, faster, and more convenient experience. Instead of a complicated, time-consuming process, it can now be handled in just a few simple steps thanks to OCR.

OCR Studio – The Smart OCR Document Solution for the Insurance Industry

OCR Studio is one of the leading intelligent character recognition and extraction solutions in the Vietnamese market. It is the only OCR solution capable of recognizing Vietnamese, English, Japanese, Vietnamese handwriting, stamps, signatures, tables, checkboxes, noise background processing, and other difficult tasks with up to 99% accuracy. With OCR Studio, insurance companies can save up to 80% of processing time, reduce 70% of data entry costs, and improve customer experience by 90%.

Currently, OCR Studio can flexibly extract and process over 50 document templates according to actual business needs. Examples include insurance benefit claims, hospital guarantee letters, insurance certificates, insurance payout requests, original contracts, and more. Notably, companies can integrate directly with CRM systems to manage, store, and securely and efficiently use data.

Insurance businesses interested in the OCR Studio solution can learn more.

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