Unlocking Data from Paper Forms

Featured Speakers:

Kuang Chen, Founder & CEO

Special Guest: Cheryl McKinnon, Principal Analyst

Unlocking Data from Paper Forms How Leading Insurers Leverage New Technology to

Automate Critical Business Processes

Speaker Introductions

Forrester 20 min

• Current State of Capture & Data Management

• Challenges & Opportunities for the Insurance Sector

• Latest Trends in Content & Data Management

Captricity 30 min

• Company Introduction

• Technology & Platform Overview

• Customer Stories - Insurance

Open Discussion 10 min

Agenda (60 min.)

Featured Speakers

Cheryl McKinnon – Guest SpeakerPRINCIPAL ANALYST SERVING ENTERPRISE ARCHITECTURE

PROFESSIONALS

Cheryl McKinnon is a principal analyst serving the needs of Enterprise

Architecture Professionals. She is an expert in records management, information

governance, and eDiscovery. Cheryl brings a broad perspective to this role, with

deep experience in many areas of content and information management,

including ECM, social media, collaboration, and standards.

Kuang ChenFOUNDER & CEO, CAPTRICITY

In founding Captricity in 2011, Kuang set out on a mission to help organizations

of all sizes gain non-disruptive access to high-quality business data by bridging

people and machines. He received a Ph.D. in computer science from University

of California, Berkeley, where he focused on the potential of data in the

developing world, and created the core technology behind Captricity. Prior to

graduate school, he was a founding team member of a computational work-flow

technology startup for drug discovery laboratories.


Forrester 20 min


• Challenges & Opportunities in Insurance

• Latest Trends in Data Management

Captricity 25 min





Agenda (60 min.)

© 2012 Forrester Research, Inc. Reproduction Prohibited

Empowered customers have given rise to a new era

Source: April 2014 “The Age Of The Customer Redefines Technology Management Archetypes”


Turn big data

into business

insights

Transform

the customer

experience

Accelerate

your digital

business

Age of the

Customer

Embrace

the mobile

mind shift

Four key market imperatives drive change


Priorities change in the age of the customer

Source: Top Technologies For Your BT Agenda, July 29, 2014


Paths to modernize for insurance


Biggest business benefits are from process automation

Base: 65 ECM professionals; Source: July 2014 Global Enterprise Content Management and Archiving Online Survey

14%

11%

8%

12%

25%

26%

37%

40%

52%

0% 10% 20% 30% 40% 50% 60%

Do not know

Other

Faster path to customer revenue

Reduction of staff

Faster delivery of products or…

Less expensive compliance

Paper savings

Archive consolidation

Process automation

“Where have you recognized ROI in ECM?” (Select all that apply)


Paper is part of a multichannel problem

o Managing volume and variety

• Forms, documents, digital pictures, electronic formats

o Inefficiency and expense

• Slow, sequential, “one-person-at-a-time” processing

o Inadequate information access

• Global, 360-degree access to customer data and business transactions needed

o Compliance

• Difficult to establish enterprise controls and comply with regulations


August 2012 “The Forrester Wave™: Multichannel Capture, Q3 2012”

Intelligent capture drives processes




Data quality is of utmost importance

34%

33%

28%

8%

9%

7%

8%

7%

5%

3%

1%

32%

37%

41%

58%

58%

63%

66%

67%

72%

83%

87%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%100%

Third-party data purchases

Outsourced data management and quality services

Consulting services for data governance

Reference data management

Data profiling

Data life-cycle management

Standardization and metadata management

Data governance management tools

Master data management

Data security and privacy

Data quality

How important do you rate the following aspects of an information governance strategy?

Important

Not Important

Base: 866 technology decision makers; Source: Forrester's Global Business Technographics Data And Analytics Survey, 2014


Forrester 20 min


• Challenges & Opportunities for the Insurance Sector

• Latest Trends in Content & Data Management

Captricity 25 min





Agenda (60 min.)

“Going paperless” vs. data access

• Paper is still often the best

tool for the job– Paper as transport, not storage

• Critical workflows require non-

disruptive onramps– Focus on access, not process change

Government agencies

Healthcare

Insurance

Utilities

Nonprofit

We serve organizations that serve everyone

Government Healthcare Captricity.orgInsurance

We serve organizations that serve everyone

Multi-Channel Capture Digital

Transformation

Actionable Data

Data-as-a-Service platform

Top layers trained to as custom

prediction engines per data field

Bottom layers pre-trained on entire Captricity corpus

Unique application of convolutional neural networks

Blank detectio

n

Multiple choice

recognition

Fixed-vocabulary handwritte

n recognition

Open handwritin

g recognition

Printed text

recognition

Number recognition

Deep learning + human intelligence = 99.9%+

accuracy

Secure by design: Shreddr™

Product Demo

What we are NOT …

o NOT an “OCR” engine• Captricity’s 99.9% accuracy and self-serve tools

can be deployed anytime, anywhere

o NOT an outsourced operation• Enables employees to focus on mission and increased profits,

not menial data entry

o NOT another big on-premise investment• Cloud service: faster time-to-value and higher ROI

• Scalable, on-demand cloud platform provides flexibility to meet your needs

Customer Stories

Automating business reply card processing

Challenges

• 100’s of BRC templates and versions

• Poor data quality (~90%)

• Slow turnaround times (days)

• Manual process was expensive

and difficult to scale

Solution

• Self-serve setup tools

• Improved accuracy to 99%+

• Improved turnaround time to hours

• 50%+ cost savings

• Directly integrated into legacy

backend DB

Application Forms Death CertificatesPayment Authorizations

Expanding across the enterprise

Automating medical claim + service forms

processing

(Top 5 P&C insurer)

Challenges

o Volume outpacing throughput capacity

o Errors in manual process causing

rework

o Slow turnaround = poor customer

experience

o Analytics team lacked access to

critical customer data

Solution

o Cloud-native SaaS model scales with

business need

o Replaced manual outsourced

operations

o Reduced turnaround time in half

o Unlocked actionable data for fraud

detection

Improving mortality modeling

(2 top-10 U.S. life insurers)

Challenges

• Need for better mortality models

• Necessary data resides only in

document images

• Alternatives require expensive

consultants

• Advanced analytics teams lacked data

access

Solution

• Cloud-native platform auto-scales to

handle large volumes of legacy

documents

• Extracted data from multitude of

historical templates

• Enabled big-data analytics

• Cost savings of $1M+ within first 12-

mo.

captricity.org

Higher Data

Quality

99%+ accuracy for

handwritten and/or

typed forms

Better Value

As much as 7.5X

less expensive

than existing

solutions

Improved

Productivity

Free up staff and

budget for higher-value

activities like improving

customer experience

Faster Time-to-

Value

SaaS model, self-serve

setup, improved customer

response times

Questions?

Thank you.

1.415.237.FORM

@captricity | captricity.com/resources

To schedule a demo, please contact us

via Captricity.com or email: [email protected]

Unlocking Data from Paper Forms

Technology

forrester research

big data

potential of data

highquality business

records management

new technology

reproduction prohibitedme

customer source