Contract Data Extraction for a leading Insurance Provider

Challenges.

• Extract important information from Contract Data 
• Multiple contracts have been scanned into single files. No information about number of contracts in each file 
• Multiple information also needs to be extracted from each contract and validated. 

Solution.

• The solution would establish a connection to the file server where the PDF files reside. It would then identify and access the relevant PDF files containing scanned contracts. 
• A single PDF file might contain multiple contracts, the IDP tool would employ document segmentation techniques 
• The IDP engine would leverage pre-trained models or custom configurations for contract data extraction. These models are trained on labeled data samples containing various contract types and the specific data points you want to extract (e.g., names, dates, values 
• Download all the fields for each contract into excel files and use them 

The Impact.

• Operationally easier to handle complex files. 
• Quick responses and turn around time 
• Combining a 5% effort of manual work, 100% accuracy been delivered.