By Karabo Moloko, CEO – Sybrin SA
For Sybrin SA, each customer interaction presents an opportunity to reflect on Africa, and specifically South Africa’s potential, and to consider the urgency of our continent’s digital transformation.
As a software developer, implementor, and innovator, Africa is Sybrin’s home – our stage from where we create new and better ways to drive digital progress, and from where we draw our inspiration.
In 2020, we restructured our business to prioritise digital transformation through more efficient alignment of our core methodologies with target markets and their diverse demographics.
Today, Sybrin has a greater software development and innovation focus on solving relevant business challenges in South Africa, the rest of Africa, as well as globally.
We have the tools, products, and niche applications to lay the foundations of a digital superhighway on which we’ll accelerate Africa through the fourth industrial revolution straight towards the fifth, with an eye on Industry 5.0.
There is a focus on creating better balanced relationships between increasingly smart tech and humans, allowing humans to leverage their innate creativity to augment the uses of said technologies in new and exciting ways.
Sybrin SA has its sights set on bringing its innovation to the insurance sector to leapfrog insurers on their digital journey with fit-for-purpose AI-powered innovation.
Sybrin SA’s Intelligent Document Processing (IDP) Solution for Insurers
We believe Sybrin’s Intelligent Document Processing (IDP) solution is an example of timely innovation driving digital transformation in insurance.
Document processing is an integral part of any business operation, with as much as 15% of an organisation’s revenue spent on creating, managing, and distributing documents.
The insurance journey involves an exchange of large amounts of information and interactions between customers, agents, brokers, and insurers.
The insurance sector is also one of the largest adopters of IDP solutions, driven by the need to process significant volumes of documents including policy schedules, claims forms, invoices, receipts, and more.
Claims and their associated expenses, comprise approximately 70 percent of insurance carriers’ total expenditures.
In addition to being pricey, data recapturing and processing are also time-consuming and often inaccurate, which reduces trust in the data for decision-making.
According to Karabo Moloko, Sybrin SA’s CEO, “Today, more and more businesses are harnessing automation processes to streamline operations and, through AI’s ability to process documents more efficiently, turning that information into high-quality insights faster than ever.”
“This is the only way forward for insurance companies – adopting IDP solutions should be a first major step in attempts at business optimisation in this digital age.”
While IDP solutions are often used by enterprises that are already familiar with automated workflows, Sybrin helps solve the more complex challenges in data extraction, enabling end-to-end automation across insurance operations.
Our Intelligent Document Processing solution is assisting the insurance sector gain a competitive advantage and reduce processing costs – all through the automation of document classification and content extraction from structured and unstructured documents, files, emails, and more.
The IDP solution then categorises such extracted information according to insurance priorities and regulations in a secure ecosystem where access is limited, and client data is protected.
Central to an IDP system, where quick processing is key, is its potential to enhance the customer experience by helping insurers make faster and more accurate decisions.
IDP also assists organisations in complying with industry rules and guidelines accurately, through the quick access and maintenance of auditable records previously stored in multiple filing systems.
Over a relatively short period, IDP has become a game-changer for businesses across all sectors and today it is essential to navigating this new digital normal.
Sybrin SA’s IDP solution is just one of many solutions we offer to organisations aspiring to digitally optimise their operations and drive success in an increasingly competitive digital market.
“From a South Africa and Africa perspective, Sybrin SA is excited to be part of this digital renaissance. We’ll keep developing fit for purpose solutions for organisations across various sectors,” says Moloko.
You can find out more about Sybrin SA’s other digital products and services here.
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