Automated Insurance Data Extraction and XML Conversion
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Solution Overview
Problem
The insurance industry faces challenges in efficiently extracting and converting insurance data from various file formats into a usable XML format, leading to errors, delays, and increased costs due to manual extraction methods and limitations in existing systems that can only process specific file formats.
Innovation Solution
A system and method that automatically extracts insurance data from multiple file formats, including PDF and spreadsheet formats, by using a user interface, business type classification, format classification, and an extraction and conversion module to match headers, isolate data blocks, and convert data into XML format, supporting multiple submission channels and file formats.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If manual extraction of insurance data from multiple documents is used, then data can be extracted from varied file formats, but extraction is prone to errors, leads to duplicate entries, and results in poor data quality
Solution Approach 1:
The system performs self-service by automatically extracting data from documents and converting it to XML format without human intervention. The automated extraction module identifies and extracts relevant insurance data from multiple file formats (PDF, images, spreadsheets) and the conversion module transforms it into the required XML structure, eliminating manual errors and improving both reliability and productivity simultaneously.
Solution Approach 2:
The patent replaces the mechanical manual extraction process with an automated computer-based system. The automated extraction module uses optical character recognition (OCR) and pattern matching to identify and extract data from documents, while the conversion module automatically transforms the extracted data into XML format, substituting human labor with automated technological processes that improve both accuracy and efficiency.
2Productivity
If existing automatic extraction systems are used, then extraction speed is improved, but they can only process specific file formats requiring manual intervention for varied formats
Solution Approach 1:
The system achieves universality by implementing multiple specialized modules within the automated extraction module: a PDF processing module for PDF files, an image processing module for image files, and a spreadsheet processing module for spreadsheet files. This multi-functional architecture enables the system to automatically process varied file formats without manual intervention, maintaining both high extraction speed and broad format compatibility.
Solution Approach 2:
The automated extraction system is segmented into specialized processing modules, each designed to handle specific file formats. The PDF processing module, image processing module, and spreadsheet processing module operate independently to extract data from their respective formats, allowing the system to maintain high efficiency for each format type while collectively supporting diverse file types.
3Adaptability or versatility
If manual conversion of extracted data to XML format is performed, then data can be adapted to insurance carrier systems, but the process is cumbersome and time-consuming
Solution Approach 1:
The conversion module performs preliminary action by automatically transforming extracted insurance data into XML format immediately after extraction, before data submission to insurance carrier systems. The module uses pre-configured XML schemas and templates to structure the data according to required formats, eliminating the need for subsequent manual conversion and reducing overall processing time while maintaining format compatibility.
4Productivity
If automated extraction from multiple file formats is implemented, then processing speed increases, but system complexity increases to handle various formats
Solution Approach 1:
The system manages complexity through segmentation by dividing the automated extraction module into separate processing modules for different file formats (PDF, images, spreadsheets). Each module handles its specific format independently using specialized algorithms, which simplifies the overall system architecture compared to a single complex universal processor, while maintaining high processing speed for all formats.
Data Source
AI summary
A system, a computer-implemented method and a computer program product for extracting insurance data from one or more documents having one or more file formats and converting into Extensible Markup Language (XML) format is provided. The system comprises a user interface configured to facilitate one or more users to submit one or more documents related to insurance. The system further comprises a business type classification module configured to identify the one or more submitted documents based on a business type. Further, the system comprises a format classification module configured to identify file format of the one or more submitted documents. Furthermore, the system comprises an extraction and conversion module configured to match one or more headers in the one or more submitted documents with one or more pre-stored headers, extract insurance data corresponding to the one or more matched headers and convert the extracted insurance data into XML format.