Key Obstacles Facing Modern Insurance Companies
Insurers face claims backlogs, policy management chaos, and delayed payouts. Claims take 5-7 days manually. Policy documents are scattered across systems. Underwriters waste hours on data entry instead of risk assessment.
Manual claims handling creates bottlenecks, delays customer payouts, and damages customer trust.
Claims Processing Takes Days
Policy declarations, endorsements, and renewals are stored in disconnected systems, making retrieval slow and error-prone.
Policy Documents Scattered Across Systems
Claims adjusters manually re-enter data from claim forms, medical reports, and inspection notes — introducing errors and delays.
Manual Data Entry Causes Claim Errors
Underwriters spend hours reviewing unstructured documents instead of assessing risk.
Underwriting Documentation is Unstructured
Manual invoice processing delays payments. Suppliers call constantly for status updates. Late payment penalties accumulate. Early payment discounts are missed. Supplier relationships suffer.
Supplier Disputes and Late Payment Penalties
How does AI automate insurance claims processing?
AI-powered claims automation extracts policyholder details, coverage terms, and incident data from claims forms and policy documents automatically. CoreNova’s solution processes claims with 99.9% accuracy while maintaining full audit trails for Insurance Authority compliance.
Smart Solutions for Modern Insurance Challenges
Automated Claims Processing
Extracts policyholder details, coverage terms, and incident data. Routes through the approval workflow.
Centralised Policy Management
DocuWare stores all policies with indexed metadata. Instant retrieval. |
Underwriting Automation
Extracts risk factors, exclusions, and coverage limits from submission documents.
AI-Powered Data Extraction
Kudra is trained on your claims forms. 99.9% extraction accuracy.
What Businesses Get with CoreNova
Claims processing time
Before Corenova
Days
After Corenova
Hours
Policy retrieval time
Before Corenova
Hours or days
After Corenova
Seconds
Underwriting review time
Before Corenova
Hours per application
After Corenova
Minutes per application
Data entry errors
Before Corenova
Manual entry
After Corenova
Eliminated
Unlocking Value with Digital Banking Innovations
Book a discovery call with our insurance automation team. We will:
- • Process 5 of your actual claims forms during the call
- • Show your extraction accuracy in real time
- • Map your current claims workflow to an automated process
