GRABBER boasts expertise in comprehending, extracting, and validating data from diverse sources like invoices, bank statements, utility bills, quotes, and order forms, aiming to eliminate manual intervention in repetitive and error-prone tasks within insurance processes. This innovative tool enhances automation, reduces errors, and addresses fraud concerns.
Building on the success of DGTAL’s DRILLER technology, the solution uses advanced techniques in optical character recognition (OCR), natural language processing (NLP), computer vision, machine learning (ML), and artificial intelligence (AI). It effectively handles a substantial volume of documents across entire claims portfolios, similar to DRILLER.
However, according to its creators, GRABBER differentiates itself by employing AI approaches that delve deeper into specific documents. In the health insurance sector, the tool can automatically calculate private vs. social security contributions, validate invoice charges against price catalogues, cross-check ICD codes with medical examination protocols, and identify financial discrepancies with precision.
GRABBER also achieves an impressive accuracy rate of over 95% in data extraction and Straight Through Processing (STP), concurrently slashing processing time by 80%. The insurtech firm highlighted the transformative impact of both GRABBER and DRILLER, showcasing the substantial potential of AI in gleaning valuable insights from the extensive realm of unstructured data accessible to insurance companies.
Moreover, the solution boasts multi-language support and exceptional universality, enabling the software to effectively categorise and extract data from various document types, irrespective of format, text style, or complexity. This versatile tool is available as a standalone product or can be seamlessly integrated as an add-on to the existing DRILLER platform.
Arndt Gossmann, DGTAL’s CEO, said: “GRABBER has been spawned by our first DRILLER clients. Amazed by how AI supports proactive management of claims portfolios, our clients want to go deeper. If it is possible to flag 132 critical cases from 500,000 claims files within milliseconds, claims experts obviously ask how AI can allow a deeper dive.”
He continued: “Today, I am proud to present our value proposition to address this need. GRABBER answers specific questions on specific documents after DRILLER answered the questions across entire portfolios. Both products deliver unprecedented insights from unstructured data and can be used independently.”
Gossmann added: “As to GRABBER, we even predict interest from other industries. I am confident that GRABBER will hit €1 million revenues within the next 12 to 18 months.”
