Argo adopts ACORD Transcriber to automate documentation process

20-11-2020

Argo Group has adopted ACORD Transcriber as its fully integrated solution for dynamic document delivery and automation. 

ACORD Data Standards are widely used throughout the insurance industry, accounting for half of global gross written premium. The industry-owned ACORD Transcriber solution implements these standards to automatically download, extract and populate data in various document formats, enabling direct systems integration and straight-through processing. 

Argo will use ACORD Transcriber to automatically extract key fields from Adobe Acrobat documents and import the structured data output into various Argo work streams, thereby greatly speeding up data acquisition, as well as intake and submission processing.

It plans to automate more than 600,000 pages of manual data entry over the next year by integrating ACORD Transcriber. Argo said it will mean cost savings and reduced E&O exposure by decreasing errors caused by human data entry. 

Toby Jackson, head of digital at Argo Group, said: “By using our own digital tools coupled with ACORD Solutions Group’s innovative AI product, we will be able to access and respond to customer inquiries more efficiently.”

Argo, ACORD Transcriber, Toby Jackson

Bermuda Re