Real-time life insurance claims digitization
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About
Hanwha Life
Problem
The company had accumulated ten years of medical data in unstructured document formats, with an additional inflow of hundreds of thousands of documents each day. Without digitization, this data remained unsuitable for analysis, limiting valuable insights. Digitizing this vast dataset was crucial to enable meaningful data analytics.
Technical challenges
- Real-time processing: Meeting the demand for real-time customer requests posed a significant challenge, with hundreds of thousands of documents needing processing daily.
- Extracting thousands of key-value pairs: Classifying millions of unstructured documents and extracting numerous key-value pairs was a difficult problem. Existing OCR solutions often lacked the accuracy needed to process such documents effectively.
Solution
Upstage installed document classification and key information extraction models for five main insurance claim documents onto the Hanwha Life on-premises infrastructure.
Results
Business impact
- Enterprise-grade accuracy: Achieved over 97% accuracy in document classification and 96% accuracy in key-value extraction for primary document types.
- Digitized 240,000+ documents per day: Including ten years of historical medical billing data, paving the way for enhanced data analytics.
- Reduced FTE by ~70%: Decreased full-time equivalents (FTE) needed for digitizing claims documents by approximately 70%, allowing resources to be reallocated to strategic initiatives.
- Supported new insurance product development: Leveraged insights from digitized data to drive innovation in insurance offerings. (Related article in Korean)
Why Upstage
About
Hanwha Life
Problem
The company had accumulated ten years of medical data in unstructured document formats, with an additional inflow of hundreds of thousands of documents each day. Without digitization, this data remained unsuitable for analysis, limiting valuable insights. Digitizing this vast dataset was crucial to enable meaningful data analytics.
Technical challenges
- Real-time processing: Meeting the demand for real-time customer requests posed a significant challenge, with hundreds of thousands of documents needing processing daily.
- Extracting thousands of key-value pairs: Classifying millions of unstructured documents and extracting numerous key-value pairs was a difficult problem. Existing OCR solutions often lacked the accuracy needed to process such documents effectively.
Solution
Upstage installed document classification and key information extraction models for five main insurance claim documents onto the Hanwha Life on-premises infrastructure.
Results
Business impact
- Enterprise-grade accuracy: Achieved over 97% accuracy in document classification and 96% accuracy in key-value extraction for primary document types.
- Digitized 240,000+ documents per day: Including ten years of historical medical billing data, paving the way for enhanced data analytics.
- Reduced FTE by ~70%: Decreased full-time equivalents (FTE) needed for digitizing claims documents by approximately 70%, allowing resources to be reallocated to strategic initiatives.
- Supported new insurance product development: Leveraged insights from digitized data to drive innovation in insurance offerings. (Related article in Korean)
Why Upstage
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Real-time life insurance claims digitization
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