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Follow on Google News | Cortical.io announces Contract Intelligence 4.5Intelligent Document Processing software improves productivity of enterprise customers, insurance carriers and brokers
By: Cortical.io The latest capabilities include a new extraction service leveraging incremental learning, the ability to handle relations within documents (a key requirement for the insurance industry), enterprise-class access management, and further OCR improvements. The newest version has generated a lot of interest from the insurance industry, keen on automating the review and extraction of information from a wide variety of complex documents with a high level of confidence. "In production for over a year, we recently conducted an internal study that reported a decrease in the error rate of quotes generated by users and an overall improvement in quality by using Cortical.io Contract Intelligence," Other verticals which benefit greatly include management consulting, business process outsourcing and finance. From a horizontal market perspective, any organization that needs to review and extract information from many unstructured documents, such as large retailers with numerous leased outlets that need an automated process to manage their lease agreements, will see improved efficiencies. Off-the-shelf contract review and analysis software are often limited to pre-defined contract types, whereas Cortical.io easily customizes the extraction and classification to any type of document and to the specific corporate requirements with comparatively little training data. Because it is meaning-based, it reaches higher levels of accuracy even when extracting whole sentences and paragraphs, which makes it very reliable. It is the only solution on the market which can compare documents and interpret terms and provisions with a high level of confidence, reducing human intervention to a minimum. Benefits include:
Insurance industry information - https://www.cortical.io/ End
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