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What You Need to Know About
Robotic Process Automation:
How It Works & Real-World Success Stories
October 14, 2015
Today’s Guest Speaker – Paul Patterson
o  VP, Sales & Account Management – Captricity
o  15+ years of enterprise software ...
3
“Paperless” is hard if you want to serve a large and diverse population.
We Serve Highly-Regulated Customers
Insurance Government Health
Federal Election Commission
…The TimeTo Disrupt Life Insurance Is Now…
…Another dull year ahead for US life insurers…
…Stagnant Life Insurance Industr...
Doc Prep Scanning Recognition Indexing Verification Release
Data
Reality of Today’s Underwriting Process
A 6-Week Life Insurance Application Flow
The underwriting process is long, expensive and invasive
Complete
Forms
1 Day
Par...
So How Do We Bridge Reality with Expectations?
A Century of Experience… to a Lifetime of Engagement?
Apply for financial pr...
Existing Electronic Data
Non-Traditional Data
Unlocking Data from Historical Paper
Electronic Health Records
Step 1: Acqui...
POLL QUESTION #1
Which of these data sources are you actively collecting now (select all that
apply)?
•  Existing electron...
A Modern Approach to an Old Problem
MACHINE LEARNINGCROWDSOURCING
How Captricity Works
Capture Transform Deliver
Machine + Human
Hybrid-Intelligence
99%+ Accuracy
Dynamic Scaling
OR
A Robotic Process Automation Solution
SET-UP UPLOAD SORT CROWD GUIDED
MACHINE LEARNING
First	Name Last	Name Phone	Number A...
SET-UP UPLOAD SORT CROWD GUIDED
MACHINE LEARNING
First	Name Last	Name Phone	Number Address City State Zip	Code
John Smith ...
a
SET-UP UPLOAD SORT CROWD GUIDED
MACHINE LEARNING
First	Name Last	Name Phone	Number Address City State Zip	Code
John Smit...
SET-UP UPLOAD SORT CROWD GUIDED
MACHINE LEARNING
First	Name Last	Name Phone	Number Address City State Zip	Code
John Smith ...
SET-UP UPLOAD SORT CROWD GUIDED
MACHINE LEARNING
First	Name Last	Name Phone	Number Address City State Zip	Code
John Smith ...
Finally, Accurate Handwriting Extraction!
•  New Business Forms (Life + Annunities)
•  Claims Forms
•  Beneficiary Change ...
POLL QUESTION #2
How do you digitize your paper data currently?
•  In house manual data entry
•  Outsourced BPO services
•...
CHALLENGE:
No easy access to “cause of death” data from death
certificates, which are submitted along with death claims
but...
LA Death Certificate LA Death Certificate
New York Life now has access to over 50 million new data points after digitizing...
New (Old) Data Sources
Application Forms Payment AuthorizationsDeath Claims
Customer service efficiency, Analytics, Fraud d...
Data Access to Improve Underwriting
Existing Electronic Data
Non-Traditional Data
Unlocking Data from
Historical Paper
EHR...
A Better UX. Happier Customers.
Thank You
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What You Need to Know About Robotic Process Automation: How It Works & Real-World Success Stories

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Insurers of all sizes are responsible for processing millions of paper documents each year (including complex handwritten forms). From new business applications to claim forms to death certificates., existing document capture and digitization solutions typically lead to sub-par accuracy, NIGO rates that require expensive and time-consuming manual re-work, and long turnaround times leading to a poor customer experience. Join us to hear the key challenges insurers face in onboarding automated solutions and learn how 5 of the Top 10 U.S. life insurers are automating customer forms and documents without heavy investments in IT resources.

Publicada em: Tecnologia

What You Need to Know About Robotic Process Automation: How It Works & Real-World Success Stories

  1. 1. What You Need to Know About Robotic Process Automation: How It Works & Real-World Success Stories October 14, 2015
  2. 2. Today’s Guest Speaker – Paul Patterson o  VP, Sales & Account Management – Captricity o  15+ years of enterprise software sales experience o  Special focus in financial services and insurance o  Professional mission is to help manufacturers build to higher quality standards, CIOs deliver IT more efficiently, engineers design products faster, and retailers sell more products
  3. 3. 3
  4. 4. “Paperless” is hard if you want to serve a large and diverse population.
  5. 5. We Serve Highly-Regulated Customers Insurance Government Health Federal Election Commission
  6. 6. …The TimeTo Disrupt Life Insurance Is Now… …Another dull year ahead for US life insurers… …Stagnant Life Insurance Industry Spells Changes for the Future… …The Life Insurance Industry Is Ripe ForThe Picking… …Transformation most likely path to sustain long-term growth…
  7. 7. Doc Prep Scanning Recognition Indexing Verification Release
  8. 8. Data Reality of Today’s Underwriting Process
  9. 9. A 6-Week Life Insurance Application Flow The underwriting process is long, expensive and invasive Complete Forms 1 Day Paramed Exam 1 Week Review 2-4 Weeks Policy Signed 2-3 Days 2-3 Days Planned In Force
  10. 10. So How Do We Bridge Reality with Expectations? A Century of Experience… to a Lifetime of Engagement? Apply for financial protection.
  11. 11. Existing Electronic Data Non-Traditional Data Unlocking Data from Historical Paper Electronic Health Records Step 1: Acquire an Arsenal of Data
  12. 12. POLL QUESTION #1 Which of these data sources are you actively collecting now (select all that apply)? •  Existing electronic data (operational data) •  Non-traditional data (ex: public records, marketing data) •  Electronic health records •  Data from historical paper
  13. 13. A Modern Approach to an Old Problem MACHINE LEARNINGCROWDSOURCING
  14. 14. How Captricity Works Capture Transform Deliver Machine + Human Hybrid-Intelligence 99%+ Accuracy Dynamic Scaling OR
  15. 15. A Robotic Process Automation Solution SET-UP UPLOAD SORT CROWD GUIDED MACHINE LEARNING First Name Last Name Phone Number Address City State Zip Code John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 DELIVER 1 Create a Template •  Highlight and name desired fields for data capture •  A one-time setup process that is self-serve and fully automated moving forward
  16. 16. SET-UP UPLOAD SORT CROWD GUIDED MACHINE LEARNING First Name Last Name Phone Number Address City State Zip Code John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 DELIVER 2 Upload documents •  Variety of structured/semi-structured formats supported •  Cloud-native platform can scale up and down automatically unlike restrictive licensed-based solutions i i Advanced integration options available to streamline process for enterprise level service A Robotic Process Automation Solution
  17. 17. a SET-UP UPLOAD SORT CROWD GUIDED MACHINE LEARNING First Name Last Name Phone Number Address City State Zip Code John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 DELIVER 3 Documents are automatically indexed •  Forms can be uploaded as-is and Captricity will classify and sort according to the pre-defined templates A Robotic Process Automation Solution
  18. 18. SET-UP UPLOAD SORT CROWD GUIDED MACHINE LEARNING First Name Last Name Phone Number Address City State Zip Code John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 DELIVER 4 Fields are “Shredded” and processed via crowd-guided machine learning •  Only one “Shred” of data is served up at a time for a worker to verify, ensuring PII and sensitive individual data remain confidential •  Platform and process is protected, HIPAA certified i Advanced integration options available to streamline process for enterprise level service A Robotic Process Automation Solution
  19. 19. SET-UP UPLOAD SORT CROWD GUIDED MACHINE LEARNING First Name Last Name Phone Number Address City State Zip Code John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 DELIVER 5 i i Advanced integration options available to streamline process for enterprise level service First Name Last Name Phone Number Address City State Zip Code John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 John Smith 555-555-5555 123 ABC St. New York NY 11222 Jane Doe 444-444-4444 345 ABC St. New York NY 11222 Electronic data is delivered at 99.5%+ accuracy •  Typically ready 4-12 hours after submission •  Simple click and download, just like an email attachment •  Export options include EDI, XML, ACORD XML, CSV file, etc., or load the data into business applications such as Salesforce. A Robotic Process Automation Solution
  20. 20. Finally, Accurate Handwriting Extraction! •  New Business Forms (Life + Annunities) •  Claims Forms •  Beneficiary Change Forms •  Death Claims / Death Certificates •  Policy Surrender Forms •  Lab / Exam Forms •  Electronic Payment Authorizations •  Business Reply Cards
  21. 21. POLL QUESTION #2 How do you digitize your paper data currently? •  In house manual data entry •  Outsourced BPO services •  Optical character recognition (OCR) or other digitization technologies •  We don’t use paper
  22. 22. CHALLENGE: No easy access to “cause of death” data from death certificates, which are submitted along with death claims but typically filed away without further analysis GOAL: Enable big-data analytics for underwriting innovation and fraud detection Extracting Data from 1M Death Claims
  23. 23. LA Death Certificate LA Death Certificate New York Life now has access to over 50 million new data points after digitizing ten years of legacy death certificates with Captricity Not Easy, But Now Possible
  24. 24. New (Old) Data Sources Application Forms Payment AuthorizationsDeath Claims Customer service efficiency, Analytics, Fraud detection
  25. 25. Data Access to Improve Underwriting Existing Electronic Data Non-Traditional Data Unlocking Data from Historical Paper EHR Death Certificates Applications Public Records Marketing Data Credit MVR RxMIB Electronic App Tele Interview Mortality Experience Probability of clean labs Auto-Issue Policy New Markets & Products Electronic Health Records
  26. 26. A Better UX. Happier Customers.
  27. 27. Thank You

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