CHICAGO, Sept. 23, 2020 /PRNewswire/ -- The insurance industry spends a significant amount of manual effort, time and money analyzing PDF and Excel loss runs that are in nonstandard, carrier-specific, unstructured document formats. The CogniSure patent pending algorithms extract data with high accuracy levels and normalize to a common loss run format. It further converts this data into actionable insights that can be a valuable input into the risk management decision-making process. CogniSure has trained the top 25 carrier loss run formats and expects to have the top 100 insurance carrier loss runs trained in the platform by the end of 2020. The CogniSure AI LossRun Insights platform is currently being piloted by commercial insurance carriers, brokers/MGAs, and lenders.
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