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ITC London

08 Sep 2024

DeepOpinion: Put insurance operations on autopilot with GenAI and LLMs

Roger Peverelli and Reggy de Feniks - Founders The DIA Community

Imagine a device that does all those time-consuming tasks you dread, like processing emails, attachments, tickets, PDFs, scans, and forms. It frees you up to focus on your company's next big steps. But where do you even start with AI? AI seems broad and complex—can it be simplified?

DeepOpinion's Generative Automation platform is transforming the insurance industry by automating complex tasks involving unstructured data. This platform merges Generative AI, business process digitization, and no-code development, allowing teams to swiftly develop enterprise-level AI applications. As a result, it achieves over 90% straight-through processing for tasks related to text and documents. This means that almost no manual intervention is necessary. This approach enables the creation of intelligent digital replicas of target processes that handle repetitive manual tasks with minimal human intervention.

How it works

Traditional Optical Character Recognition (OCR) solutions can struggle with the diverse layouts of unstructured data. In contrast, DeepOpinion processes documents accurately regardless of layout or language, achieving a 98.3% accuracy with a single model. Its pre-tuned zero-shot generative models can be deployed and customized quickly using minimal data or simple language instructions.

Compared to LLMs, DeepOpinion offers two key advantages: accuracy with unstructured data due to domain-specific model pre-training for insurance use cases, and the ability to process LLM data autonomously using Generative Confidence scores. This ensures AI outputs without extensive manual review, achieving data quality with minimal human intervention. Moreover, DeepOpinion’s modular AI apps facilitate the rapid development of custom automation solutions. Customers can deploy functional automations for complex tasks, such as claims processing, in only 3 to 4 weeks, compared to the typical 6-12+ months required by other solutions.

The DeepOpinion platform enables enterprises to develop custom AI applications that simplify the handling of unstructured data within a user-friendly, no-code environment. This makes advanced automation accessible to non-technical teams. Users can choose to use an existing AI app template or create one from scratch to address specific tasks like managing claims from FNOL to settlement. The intuitive interface allows users to build AI apps in minutes using a drag-and-drop system that aligns with their business rules and system integrations.

Furthermore, these AI apps can be integrated with existing business process management or robotic process automation tools, enhancing workflows without the need for additional infrastructure.

Why did we select DeepOpinion for ITC DIA Europe?

There’s an ongoing trend towards low-code and no-code technology, which simplifies the building of custom applications. DeepOpinion is a great example of making self-service AI simple. It allows people to create AI models without needing a lot of expertise, saving both time and resources.

At ITC DIA Europe, DeepOpinion showcased its platform's impact on enterprise insurance operations, particularly in managing complex claims. The company is trusted by global insurance leaders such as Allianz, Markel, CED Group, Uelzener, and Dentolo. It earned multiple recognitions, including the ITC DIAmond Award in both 2022 and 2024, and has been recognized by Forrester and IDC as a 'Vendor to Watch.'

Who is DeepOpinion?

DeepOpinion was founded in Innsbruck, Austria, in 2019, by Stefan Engl and Stefan Ramershoven. DeepOpinion is a B2B SaaS platform specializing in Generative Automation. With a solid presence across EMEA, it is engineered to securely and efficiently automate complex knowledge work in the insurance industry.

“We are building the intelligent infrastructure that will drive human prosperity while giving people the freedom to shift from monotonous work to personally meaningful pursuits" - Stefan Engl, CEO & Co-Founder DeepOpinion

Learn more on their website

Company

DeepOpinion
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