DAIA (Document Artificial Intelligence Analysis)

Context

The insurance industry is facing a long list of challenges complicated by overly-complex contracts, making it difficult for policyholders to understand what should be clear and concise information.

As of today, managing and updating contracts is often time-consuming, and comparing multiple versions of these contacts is potentially prone to natural human error.

In response to these challenges, In Clear Terms—a specialist in the transformation of contractual insurance documents—and PALO IT have created DAIA.

Challenge

DAIA is a collaboration between PALO IT engineers' mastery of generative AI, and In Clear Terms' dual proficiency in contract substance and form.

This synergy between technical know-how and hands-on industry experience has made all the difference in building a SaaS solution that’s at once tailored to the insurance sector’s age-old problems, and taps into new innovation to solve these problems.

At its core, DAIA leverages generative AI to simplify insurance contracts. Its value lies in its ability to quickly analyze and enhance document quality, suggest areas for improvement, and eliminate jargon by using clear language that speaks directly to policy holders. What’s more, by automating document comparison and standard contract creation, DAIA simplifies and speeds up contract management.

Outcomes

Since PALO IT’s engagement began, DAIA has shown to have a significant impact, reducing document processing time from a week to just 90 seconds. This refinement has massive implications for business processes, customer retention, and team culture alike – freeing up operational teams to spend their time on more valuable tasks in their day to day.

Want to experience first-hand the simplicity, efficiency, and transparency that DAIA brings to the insurance sector? Get in touch with our team of experts to request a product demo.