Instabase for Insurance
Insurance carriers and brokers handle large volumes of unstructured data that require manual processing and data extraction. Instabase helps to easily access data trapped in even the most complex and variable documents to automate end-to-end workflows.
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Use Cases
How Insurance Carriers and Brokers are using Instabase
Commercial Submissions

Commercial broker submissions, including broker presentations, schedules of value, and loss runs, are fundamentally unstructured.

Instabase helps to automatically extract relevant data out of these documents to automate an end-to-end workflow that improves underwriter capacity, cycle time, and customer service.

Complex Claims

Many complex claims require a field adjuster or a specialist to inspect damages on-site. This important work produces reports that are fundamentally unstructured.

Instabase helps automatically extract relevant data out of these documents to automate an end-to-end workflow that improves adjuster capacity, cycle time, and customer service.

Medical Claims Processing

Many P&C insurance products can result in medical claims. Examples are bodily injury claims and workers compensation claims. Medical records are highly unstructured with free text and handwriting.

Instabase helps automatically extract relevant data out of these documents to automate an end-to-end workflow that improves adjuster capacity, cycle time, and customer service.

P&C Insurance
Property & Casualty insurance carriers and brokers use Instabase to process commercial submissions, complex claims, medical claims such as bodily injury, and much more.
  • Commercial Submissions
  • Complex Claims
  • Medical Claims Processing
Life Insurance Claims

Life insurance claims typically require the original policy, a death certificate, first responder reports, and medical records. These documents are highly unstructured and require manual data extraction.

Instabase helps automatically extract relevant data out of these documents to automate an end-to-end workflow that improves adjuster capacity, cycle time, and customer service.

Life Insurance Underwriting

When the age & amount exceeds thresholds for simplified underwriting, life underwriters typically request an Attending Physician Statement (APS). This medical record is highly unstructured and frequently contains handwriting and tables.

Instabase helps automatically extract relevant data out of these documents to automate an end-to-end workflow that improves underwriter capacity, cycle time, and customer service.

Disability Claims

Disability claims frequently require medical records, first responder reports, and claims forms. These documents are typically unstructured or semi-structured, and frequently require manual processing.

Instabase helps automatically extract relevant data out of these documents to automate an end-to-end workflow that improves underwriter capacity, cycle time, and customer service.

Long Term Care

Long Term Care claims are essentially complex invoices and hourly statements. They are highly variable due to the number of medical providers and standards, and are also frequently faxed in low quality. As a result, they usually require manual processing.

Instabase helps automatically extract relevant data out of these documents to automate an end-to-end workflow that improves underwriter capacity, cycle time, and customer service.

Group Benefits

Group Benefits refer to a range of products such as life insurance, short-term disability, health, and more. Onboarding of employees requires an understanding of tax data, KYC, and census data. Claims nearly always involve medical documents. All this data has high variability requiring manual processing.

Instabase helps automatically extract relevant data out of these documents to automate an end-to-end workflow that improves underwriter capacity, cycle time, and customer service.

Life Insurance
Life insurance carriers use Instabase to help automate underwriting, process claims and automate administrative changes such as adding a dependent.
  • Life Insurance Claims
  • Life Insurance Underwriting
  • Disability Claims
  • Long Term Care
  • Group Benefits
Loss Runs

Loss Runs are complex tables containing the claims history on a business line basis. These documents are can come in any file format (e.g. PDF or Excel) and are highly variable in lay-out due to the large number of carriers. As a result, these documents usually need manual processing.

Instabase helps automatically extract relevant data out of these documents to automate an end-to-end workflow that improves underwriter capacity, cycle time, and customer service.

Quotation Documents

Quotation documents hold a lot of complex information, typically in tables, on information such as exposures, inclusions, and exclusions. They are highly variable. As a result, brokers typically need to process them manually.

Instabase helps automatically extract relevant data out of these documents to automate an end-to-end workflow that improves underwriter capacity, cycle time, and customer service.

Brokers & Agents
Brokers and Agents receive a large amount of information from their customers including exposure documents, quotation documents, loss runs, and schedules of value. These are frequently emailed in and have high variability. Brokers use Instabase to help process this information, make it structured, in order to reduce cycle time and increase capacity.
  • Loss Runs
  • Quotation Documents