Loss Scan is a web-based platform that utilizes AI to extract data from PDF insurance loss runs, converting it into actionable formats like CSV in seconds. This technology eliminates the need for manual data entry, significantly reducing processing time and minimizing human errors for insurance carriers, MGAs, and brokers.
Funding
$1.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Insurance professionals face challenges in efficiently extracting and utilizing data from loss runs and other insurance documents due to the varying formats and the need for manual data entry. This process is time-consuming, prone to errors, and can delay critical workflows such as claims processing and underwriting.
Solution
Loss Scan is an AI-powered platform designed to automate the extraction, organization, and analysis of data from insurance documents, including loss runs, certificates of insurance, and ACORD forms. The platform eliminates manual data entry by using AI to convert unstructured data from PDFs and other formats into actionable formats like CSV. Loss Scan streamlines workflows for insurance carriers, MGAs, and brokers, reducing processing time, minimizing errors, and improving decision-making. The system supports a wide range of document types and offers customizable data outputs to integrate with existing systems.
Target Audience
Loss Scan primarily serves insurance carriers, MGAs, and brokers seeking to automate data extraction from insurance documents to improve efficiency and accuracy.
Features
- AI-driven data extraction from PDF, XLS, XLSX, and CSV insurance loss runs
- Support for a wide variety of insurance documents, including loss runs, certificates of insurance, and ACORD forms
- Customizable data export templates for systems like Applied, Vertafore, and Zywave
- User-friendly dashboard for data saving, organization, and extraction
- Secure data storage with role-based access controls
- Real-time data verification system with human oversight to ensure data integrity
- API integration for custom data extraction and synchronization with other services
- Multi-document support for PDFs, images, and poorly formatted scans