The insurtech startup, which launched in October 2020, provides a suite of AI-powered products that include AP (Accounts Payable) Invoice Automation and Insurance Document Processing products. Kanverse.ae also supports various use cases across the enterprise to remove bottlenecks, streamline business processes, and reduce manual touch points throughout document processing workflows.
Guidewire’s Insurtech Vanguards programme highlights and identifies new and disruptive insurtechs in the Property and Casualty (P&C) sector. The solution offers a direct channel that connects insurers with insurance technology companies, thus increasing business impact.
Kanverse.ai and hyperautomation tools
According to reports, Kanverse.ai enables Insurers to ‘reimagine the insurance submission process’. The hyperautomation platform offers solutions to help them process ACORD and other supplemental forms via the Kanverse Insurance Document Processing product. The tool ‘automates ACORD and supplemental forms' ingestion, classification, and data extraction, approvals and filing’. Meanwhile, the Kanverse.ai Package View categorises insurance forms for the submission intake process using artificial intelligence.
Additionally, Kanverse.ai automatically adapts to changes seen in insurance forms without manual intervention or tweaking the system.
Speaking about the new Guidewire partnership, Dr. Akhil Sahai, Kanverse.ai's CPO and Founding member, explained, “We are honoured to showcase our product as an Insurtech Vanguard,” said. “Carriers can turbocharge insurance forms processing workflows with Kanverse Hyperautomation. Insurers can seamlessly integrate Kanverse across their business environments and witness zero-touch processing of inbound ACORD and supplemental forms with 99.5% accuracy.”
Laura Drabik, chief evangelist, Guidewire also commented, saying, “We are thrilled to welcome Kanverse.ai to our Insurtech Vanguard Programme.”
She added, “We launched Insurtech Vanguards to help P&C insurers gain new visibility into insurtechs’ cutting-edge technology and we are excited to introduce Kanverse to our customers.”