Kanverse.ai Launches Fluorite Release of its AI-Powered IDP Product for Insurance, Strengthens AP Invoice Automation Offering

SAN JOSE, Calif.--(BUSINESS WIRE)--Kanverse, a hyper-automation company, has announced the global launch of the Fluorite release of its patent-pending AI-powered Intelligent Document Processing Product for Enterprises.

Kanverse IDP combines multiple AI technologies with Optical Character Recognition (OCR) and Automation to provide an end-to-end product that digitizes enterprise document processing from ingestion, classification, extraction, validation to filing. The entire process is powered by Natural Language Processing (NLP), Fuzzy Logic, and advanced Machine Learning (ML) algorithms to make business processes more efficient, optimize cost, eliminate human error, and mitigate risk.

Fluorite release revolutionizes Insurance Forms Processing (ACORD & Supplemental Forms) with:

• Multi-channel ingestion of Insurance forms
• Automated AI-powered classification
• Data extraction with up to 99.5% accuracy using AI
• Automated validation of extracted data against business rules
• In-App collaboration in the context of insurance documents and
• Automated filing of validated records in insurance software systems

“Kanverse.ai, with its AI-powered automation, delivers game-changing innovation to the Insurance Industry. I am excited to see Kanverse.ai release the Fluorite version of their product to support end-to-end processing of ACORD and supplemental forms. This AI-powered product will enable digital transformation and enable efficiency improvements for Insurance industry players of all sizes.” said Tom Bakewell, an Insurance Industry veteran.

Fluorite release also introduces new and powerful capabilities to its existing AP Invoice Automation product to make Invoice Processing – a safe & frictionless experience for Enterprises

• AP Fraud alerting based on Invoice amount spikes.
• All new Error Analytics dashboard to detect invoicing errors and alerts.
• New powerful UI to perform 2-way or 3-way invoice and PO matching
• Up to 99.5% accuracy across document categories
• And much more!

“With the Fluorite release of Kanverse, we are bringing the latest innovations in AI-powered automation to the Insurance industry. We have also significantly enhanced our AP Invoice Automation product that has already delivered unprecedented productivity gains and orders of magnitude of processing time improvements to Finance and Accounting teams across industries.“ said Karan Yaramada, CEO of Kanverse.ai.

Kanverse.ai Overview

Kanverse is a cognitive automation cloud offering that can support various use cases across the enterprise to remove bottlenecks, streamline business processes, and minimize manual touchpoints across workflows. Kanverse provides a decisioning and analytics engine, conversational and programmatic interface and out of box connectors for interfacing with users and system of records where enterprise data is maintained. Learn more at: www.kanverse.ai