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.
Speaker Introductions
Forrester 20 min
• Current State of Capture & Data Management
• Challenges & Opportunities in Insurance
• Latest Trends in Data Management
Captricity 25 min
• Company Introduction
• Technology & Platform Overview
• Customer Stories - Insurance
Open Discussion 10 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”
© 2012 Forrester Research, Inc. Reproduction Prohibited
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
© 2012 Forrester Research, Inc. Reproduction Prohibited
Priorities change in the age of the customer
Source: Top Technologies For Your BT Agenda, July 29, 2014
© 2012 Forrester Research, Inc. Reproduction Prohibited
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)
© 2012 Forrester Research, Inc. Reproduction Prohibited
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
© 2012 Forrester Research, Inc. Reproduction Prohibited
August 2012 “The Forrester Wave™: Multichannel Capture, Q3 2012”
Intelligent capture drives processes
© 2012 Forrester Research, Inc. Reproduction Prohibited
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
Speaker Introductions
Forrester 20 min
• Current State of Capture & Data Management
• Challenges & Opportunities for the Insurance Sector
• Latest Trends in Content & Data Management
Captricity 25 min
• Company Introduction
• Technology & Platform Overview
• Customer Stories - Insurance
Open Discussion 10 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
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
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
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
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.
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]
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