Omniscience, life insurance automation software, has released a new customer intelligence service to improve underwriting decisions.
The new service OmniExtract will enable the automated and sophisticated life insurance underwriting decisions on new customers, regardless of their history.
Traditionally, only customers with simple health and personal data have had quick insurance experiences, through OmniExtract, those with high risk or complex history can also take advantage of fast underwriting.
The new tool digitises data from scanned or faxes forms, photographs and other document types. It can also process information in low-resolution, diverse layouts and languages including English, Chinese and Japanese.
Omniscience co-founder and CEO Sunil Rawat said, “We are committed to enabling insurers to add new business quickly and without increased risk.
“Since each new insured person represents an extended opportunity, OmniExtract serves as the onramp to a multidecade, compounding opportunity.”
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