Insurance Document Processing: A Conversation with Lisette Delgado

The Ever-Changing Insurance Landscape

One of the standout characteristics of the insurance industry is constantly evolving—factors like market fluctuations, entry and exit of carriers, and rampant fraud present ongoing challenges for insurance agents. Navigating these waters requires not only industry knowledge but also efficient processes. 

The Role of Technology and AI

While the insurance industry has historically been viewed as resistant to change, Delgado, a millennial in the field, embraces technology wholeheartedly. She recognizes that technology, including AI like GPT, can significantly improve efficiency and allow agents to focus on their core responsibilities—building client relationships.

AI in Document Processing

One area where AI, such as GPT, is proving invaluable for insurance agents is document processing. Insurance agents often deal with various forms and documents that need to be processed, which is where GPT comes into play. It can extract critical information from documents, reducing the need for manual data entry.

The Document Processing Workflow

Insurance agents can significantly improve their typical document processing workflow with tools like Documents with GPT. It first identifies the document type, such as an insurance accord form, and then uses GPT and proprietary ML models to extract relevant data points. Importantly, GPT doesn’t require extensive training on each document type; it can easily handle various document formats.

Integrating AI into RPA

Integrating AI, like GPT, into Robotic Process Automation (RPA) provides a powerful solution for insurance agents looking to optimize their workflows further. Bots can mimic human actions, such as retrieving documents, processing them using GPT, and then automating the subsequent steps, like data entry into databases, emails, or other systems.

Benefits of RPA and AI Integration

Integrating AI, such as GPT, into RPA allows insurance agents to streamline processes significantly. Tasks that would take hours for a human can be completed by a bot in a fraction of the time. This not only saves time but also reduces the margin for error, improving overall accuracy.

Common Challenges and Solutions

Automating processes precisely as a human performs them is difficult. Bots can often optimize the workflow differently, and it’s essential to adapt processes for maximum efficiency when transitioning from human to bot-driven tasks.

A Message for Insurance Companies

To insurance companies still on the fence about embracing AI and technology, Delgado offers a compelling message: Embrace technology, educate yourself, and understand it better. 

The world is evolving, and technology is a certainty. By embracing these changes, insurance agents can unlock new levels of efficiency, better client interactions, and a competitive edge in an ever-changing industry.

Conclusion

Lisette Delgado’s journey as an insurance agent illustrates the evolving landscape of the insurance industry. By integrating AI, such as GPT, into their workflows, insurance agents can streamline document processing, enhance client relationships, and adapt to the changing times. 

The message is clear: Embrace technology, and the future of insurance will be one of efficiency and opportunity.

Ready to streamline your insurance operations? Reach out to Fintech team to learn how similar firms are using this technology.