SilverBridge incorporates sophisticated OCR functionality into Exergy

As testament to its ongoing commitment of delivering digital features that enhance the client experience, SilverBridge has incorporated Azure Form Recognizer technology into the Exergy product suite. This enables insurers to automate the extraction of information from forms, images, and documents.

“As a Microsoft Managed Partner, SilverBridge remains at the cutting-edge of technology innovation and focuses on ways to modernise and digitalise Exergy to reflect the digital transformation needs of our customers. Using machine learning technology to identify and extract text and structure from your documents, will significantly increase the customer experience and result in accelerated business processes,” says Annalie Terblanche, Head of Product at SilverBridge.

Even though key insurance processes such as client onboarding and claims management have already been automated in Exergy, they still required human intervention to verify the quality and correctness of the documents received. Incorporating text extraction (OCR) into the Exergy product suite, enables SilverBridge to drive straight through processing and move even further away from manual processes. You can focus more time acting on the information rather than compiling it, resulting in reduced turnaround times with new client applications, amendments or claims assessments.

“Supporting documents submitted during onboarding, amendments and claims processes can now be automatically verified using this OCR functionality integrated into Exergy to automate underwriting and other administrative requirements. Our clients are excited about the potential of this enhancement and are looking forward to efficiencies it will introduce in their digital processes,” says Terblanche.

Azure Form Recognizer applies advanced machine learning to accurately extract text, key-value pairs, tables, and structures from documents. Users can quickly get accurate results that are tailored to their specific content without heavy manual intervention or extensive data science expertise.

“We are in a time where technology is one of the core ways that our partner ecosystem can better serve its customers. It brings with it an opportunity for innovation, and partners like SilverBridge, continue to look for ways to help their customers realise true digital transformation through solutions like Exergy,” says Lionel Moyal, Commercial Partner Director at Microsoft South Africa.