Optical character recognition technology converts unstructured data into machine-readable text. Simply put, it transforms the content in a physical document (printed or handwritten) into a digital format. (Credit: Elnur Amikishiyev/Adobe Stock)
Today's digital technology is driving massive changes in the insurance industry as insurers aim to increase work efficiency and productivity while improving the customer experience at the same time. One technological advancement that has become key to helping agents remain more competitive and retain more business is optical character recognition or OCR.
What Is OCR and how does it work?
OCR technology converts unstructured data into machine-readable text. Simply put, it transforms the content in a physical document (printed or handwritten) into a digital format. The process is easy. A document is scanned and uploaded, and the data is read and converted into a digital file. Once the information is in the system, it can be further used for other data processing needs, such as applications, supplemental forms and proposals.
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