Kanverse Garnet Release – Launches AI-powered Product for Insurance Submission Intake Process and Introduces Advanced AP Fraud Prevention Features to AP Invoice Automation Offering

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

Garnet release intelligently automates Insurance Forms Submission Process for (ACORD & Supplemental - Forms) with up to 99.5% extraction accuracy.

• End to end automation of ingestion, detection, classification, extraction, and filing.
• Automated AI-powered classification of ACORD and supplemental forms
• Out-of-the box new generation business rules to validate extracted data
• Low code platform to build new data validation logic through intuitive UI
• Effortless building of new workflows to automate insurance processes

Kanverse IDP combines multiple AI technologies with Optical Character Recognition (OCR) and Automation to provide an end-to-end product that digitizes document processing for enterprises 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, abolish human error, and mitigate risk.

Garnet release enables UiPath customers to experience Kanverse.

• Garnet release introduces new connector for UiPath; UiPath customers can install and deploy Kanverse across their business environments and enjoy seamless document processing with up to 99.5% extraction accuracy

Garnet release also introduces new and powerful capabilities to its existing AP Invoice Automation product to transform the invoice processing experience.

• Out-of-the-box AP fraud detection use cases
• New fraud analytics dashboards
• Revamped error analytics dashboard
• Support for new document and table types
• Invoice mapping and matching with purchase orders through a user interface
• Up to 99.5% accuracy across new document categories
• And much more!

“Kanverse is on a mission to change how enterprises do business today. Kanverse Garnet release continues to bring the latest innovations in AI powered Automation to transform enterprise business processes in Finance and Accounting as well as in the Insurance Industry,” said Karan Yaramada (Chief Executive Officer & Founder).

“Kanverse Garnet release changes the paradigm for submission intake for insurance industry by automating the end-to-end process. It also delivers game changing innovations in AP Fraud for Finance and Accounting teams,” said Dr. Akhil Sahai (Chief Product Officer, Founding Member).

Kanverse.ai Overview

Kanverse is a Hyperautomation platform and a suite of products that can support various use cases across the enterprise to remove bottlenecks, streamline business processes, and minimize manual touchpoints across workflows. Kanverse provides end to end automation through AI-powered cognitive extraction, decisioning and analytics, workflows and out of box connectors for interfacing with users and system of records where enterprise data is maintained. Learn more at: www.kanverse.ai