Customer Story

How Arbor automates insurance compliance using Docsumo's smart data extraction APIs

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Best Document AI solution that comes with pre-trained APIs a CRE lender needs.

“Amongst others, the biggest advantage of partnering with Docsumo is the data capture accuracy they’re able to deliver. We’re witnessing a 95%+ STP rate, that means we don’t even have to look at risk assessment documents 95 out of 100 times, and the extracted data is directly pushed into the database.”

Howard Leiner

CTO, Arbor Realty Trust

About the customer

Arbor Realty Trust, Inc. is a real estate investment trust and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets all across the United States.
Industry
Commercial Real Estate
Company size
500+ Employees
Customers served
10,000+ per Year
Portfolio
1 Bn+

The case study: In a nutshell

Before

Manually scanning Acord forms and flood cerficates
A team of data entry operators spends hours manually extracting data from unstructured documents
Elevation certificates are highly unstructured that require more processing time than usual
Little to no validation done on captured data
All documents had to undergo double manual entry

After

Using intelligent document processing
software to extract data
Employees review only exceptions
Certificates are now digitized with key data extracted from them
Docsumo's algorithms auto-classify documents and validate data with custom rules in real-time
95%+ straight through processing

The Challenge

Process large amounts of insurance documents
  • Arbor receive insurance claim settlement and application documents in varying formats across different channels.
  • A team of agents were stretched as they tried to manually capture data from these documents, and push for analysis.
Extract accurate data from Acord forms
  • Arbor had to scan and extract accurate data from semi-structured Acord forms and elevation certificates
  • Capturing data for a single application takes up to 30 minutes with a possible error rate of 20%.
Elevation certificates have varying structures
  • Not only did the certificates vary for different vendors, but the field to capture often varies in term of position in the document.
  • Some of them were in tabular formats.
No in-built validation procedures
  • The manual extraction lacked a logical validation of captured data

The Docsumo Solution

Ingesting unstructured documents
API-based direct integration that seamlessly ingests Acord 25, Acord 28, and Elevation certificates onto Docsumo.
Pre-processing and getting ready for data extraction
Inbuilt document pre-processors identified the letter formats (JPG, PDF, PNG etc.) and queued them up for data extraction.
Data extraction from unstructured text
Docsumo's OCR module used the vectorized position reference in a letter to extract data.
The OCR not only parsed through letters with varying fonts, layouts, image quality, and resolution; it even extracted data from the tables with 95%+ accuracy.
Intelligent categorization of key value pairs
Our proprietary NLP-based classification framework started rapidly learning from the debt settlement letter templates. It was trained to categorize key value pairs and line items.
Another algorithm started making intelligent predictions to identify the data within a letter.
Rule-based data validation
Once the data was extracted, a rule-based validation engine applied contextual data validation and correction algorithms.
Integration with downstream software
The data was extracted in a JSON format that was easily integrated into downstream software for analysis

Result: 99%+ Data extraction accuracy

10x
Faster processing of unstructured data
95%
Touchless processing using smart validation rules
99%
Data accuracy with intelligent automation
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