Recently, RPA provider Roots Automation released InsurGPT™, a generative AI model tailored for the insurance industry. Currently, the product is integrated into Roots Automatio's product matrix to provide customers with generative AI automation services.
It is worth mentioning that every time customers interact with InsurGPT™, they will optimize the identification, output, generation and other capabilities of their models to enhance the efficiency of end-to-end automated business processes.
InsurGPT™ further extends the generative AI processing capabilities of the RPA digital workforce by using proprietary, fine-tuned Large Language Models (LLMs) to read and accurately extract data. InsurGPT™ can handle structured documents such as ACORD forms and medical claim forms, as well as unstructured documents (such as insurance applications, loss records, quotes, first notice of loss, claim demands, general letters, etc.).
InsurGPT™ leverages insurance industry-specific data and corpus, combined with system and process knowledge, to significantly improve the accuracy of data extraction and inference, while reducing false positives and artifacts generated by non-industry-specific generative AI models.
Roots Automation's customers are already delivering tangible results for insurance operators through InsurGPT™. For example, a national third-party claims management agency (TPA) is using InsurGPT™ to expand its First Notice of Loss (FNOL) process. The agency was challenged to standardize the claims setup and documentation process while meeting the diverse needs of underwriter partners and customers.
Traditional hard-coded rules, decision logic, and templates do not effectively address document complexity and the characteristics of special account instructions for insurers and customers. InsurGPT™ enables TPA to handle non-standard instructions and documentation in the FNOL process, improving accuracy without changing the underlying process.
As a state-of-the-art insurance-specific generative AI model, InsurGPT™ enables organizations to eliminate routine tasks, increase digitalization, and accelerate AI adoption.
John Cottongim, co-founder and CTO of Roots Automation, said: "During the development of InsurGPT™, we found that while companies like OpenAI and Google, as well as the open source community as a whole, have achieved some great results, they are not interested in going deep into the insurance sector and have not taken into account the security, data privacy, or heavily regulated nature of the insurance sector. And InsurGPT™ did it! "Importantly, InsurGPT's™ real-time interactions with customer teams are constantly improving, through our digital workforce."
Chaz Perera, co-founder and CEO of Roots Automation, said: "With InsurGPT™, we provide digital collaborators with in-depth insurance experience and knowledge. "InsurGPT™ can read insurance documents as easily as humans and produce accurate results quickly and at scale without the need to analyze and process templates for business documents or heavy OCR configuration."
About Roots Automation
Roots Automation was founded in 2018 and is headquartered in New York. The company is committed to combining machine intelligence and human ingenuity to provide organizations with AI-powered digital employees who can think, read, and perceive like humans. Digital employees are pre-trained to understand and interact with documents, systems, and processes common in the insurance industry, hoping to free up the human workforce from inefficient, boring jobs, thereby increasing their productivity and job satisfaction.
Article information source: Roots Automation official website, compiled and published by RPA China, if there is any infringement, please contact to delete.