Specialty lines insurtech firm OIP Robotics has partnered with automation start-up Hyperscience to boost data extraction capabilities in its automation portfolio.<\/p>\n
The partnership gives OIP Robotics access to Hypersciences intelligent document processing software, which is the first software-defined input-to-output platform used by private companies and government agencies around the world. These include QBE Insurance Group, TD Ameritrade, and Voya Financial.<\/p>\n
According to Hyperscience, the platform allows users to lower costs, reduce error rates by 67%, and increase employee capacity by 10 times. The firm is also optimistic that its partnership with OIP Robotics will open the door to the excess and surplus (E&S) insurance market, where the use of such technology has not been yet maximized.<\/p>\n
Integration into our existing systems will enable our clients to automate the entire data extraction process from the intake point to preparing the data for processing with over 99% accuracy and up to 95% automation, said Nemanja Jokic, director of business technology at OIP Robotics.<\/p>\n
Hyperscience, together with our technology can do something RPA hasnt easily achieved - create systems that can learn from humans and improve on their own; systems that know when to loop in humans and when to leave them out of a process, in a way that doesnt require a heavy touch from outside personnel, he added.<\/p>\n
Matt Grantham, assistant vice-president of global alliances at Hyperscience, also expressed excitement over the partnership.<\/p>\n
Together, we will very quickly help boost efficiency at insurance firms by radically improving organizational agility and accelerating digital transformation, he said.<\/p>\n
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OIP Robotics boosts automation portfolio with Hyperscience partnership - Insurance Business<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Specialty lines insurtech firm OIP Robotics has partnered with automation start-up Hyperscience to boost data extraction capabilities in its automation portfolio. The partnership gives OIP Robotics access to Hypersciences intelligent document processing software, which is the first software-defined input-to-output platform used by private companies and government agencies around the world. These include QBE Insurance Group, TD Ameritrade, and Voya Financial Continue reading