Loadsure partnered with Google Cloud to develop an artificial intelligence (AI)-powered claims verification system. By leveraging Google Cloud's Document AI, Loadsure was able to automate the extraction of relevant data from various claim documents, such as bills of lading, invoices, and shipping documents.
“We are all about delivering value to the freight community, which is the principle of insurance and risk management in general,” says Loadsure’s CEO and founder, Johnny McCord.
Key takeaways:
- Loadsure’s Claim Automation is based on classification of documents and using different document extractors per document type, leading to more than 95% extraction confidence scores.
- Google Cloud's platform provided a user-friendly interface and tools purpose-built for rapid prototyping and experimentation. Loadsure was able to seamlessly test different workflows using generative AI models and various Document AI processors.
- Other key benefits include faster processing time, increased accuracy and improved customer satisfaction.
“Using the labeling tool in Document AI significantly enhanced our collaboration with the domain specialists,” says Estefany Montoya, data team lead at Loadsure. "The tool made it simple to involve them, ensuring high-quality, consistent labels. Additionally, uptraining new models was remarkably quick and easy. The UI allowed us to monitor key metrics seamlessly, and by utilizing pre-trained processors for domain-specific documents, we were able to achieve high F1 scores with minimal adjustments.”
