News | February 27, 2020

Parascript & Redshift Partner To Automate Insurance Document Processing In Portugal

Transforming Handwritten Forms into Accessible, High-Quality Data

Longmont, CO (GLOBE NEWSWIRE) - Parascript, which supplies the digital workforce with automated data entry solutions that process over 100 billion documents annually, announced today its partnership with Redshift. An expert consulting and solutions firm in Portugal, RedShift focuses on information management using intelligent document capture technology as well as delivering cyber security and data networking solutions. This partnership will help guarantee the insurance industry has access to the most accurate handwriting recognition leveraging Parascript FormXtra.AI with Smart Learning.

Founded in 2010, Redshift has been offering solutions and services to the Portuguese government and businesses across the country. Redshift has a dedicated team of Information Management experts specializing in enterprise content management (ECM) and business process management (BPM) project implementation.

“One of our major goals is to augment our customers’ workforce. We significantly reduce their manual data entry through document process automation,” said Pedro Correia, Director at Redshift. “Parascript is renown for its machine learning capabilities and handwriting recognition so we decided to partner with Parascript since we deal with highly complex documents and handwritten forms. Parascript has a strong delivery track record with a large number of Fortune 1000 clients.”

Parascript Smart Learning’s use of multiple machine learning techniques—each tuned to a specific task—equips Redshift with a comprehensive, high-performance system that outperforms other products on the market. Parascript Smart Learning collects and analyzes data in production to adapt and improve document classification, data location, extraction and verification performance over time.

“We are very pleased about our partnership with Redshift, a tier-one solution provider for Portugal,” said Bill Johnson, Vice President of Global Sales at Parascript. “Much of the enterprise content that Redshift’s customers deal with is unstructured, which can now be analyzed at an accelerated pace because Parascript software handles the complexity of extracting that information. This quality data can then be fed directly into Redshift customers’ ECM, BPM and robotic process automation (RPA) systems.”

The insurance industry is heavily document-driven whether these documents are paper or born-digital. Even today, much of the insurance industry has only automated select document processes. Much of the onboarding, claims and compliance document-centric workflows remain manual.

“RPA with intelligent capture at its core to ensure data integrity can assist with these rote tasks,” Mr. Johnson explained. “Redshift is helping lead the way in this insurance automation toward higher efficiency and more rapid, accurate processing that can significantly improve response time for insurance customers. This means a better customer experience.”

About Redshift
Redshift provides solutions and services specializing in Cyber Security, Networking and Information Management. Redshift delivers our solutions to various market sectors such as Public Administration, Banking, Industry, Health, Insurance, Telecommunications, Transportation and Utilities. The Redshift Consulting team has highly trained teams with many years of experience across industries. In Information Management, Redshift equips clients with process automation and optimization in ECM, BPM and RPA, providing significant savings. Visit Redshift.

About Parascript, LLC
Parascript supplies the digital workforce with AI-based software that automates human tasks involved with document-based information. Parascript provides intelligent capture leveraging machine learning with real-time adaptability and auto-configuration. Our software offers easy-to-use, image-based analysis, classification, data location, extraction and verification. More than 100 billion documents for financial services, government organizations and the healthcare industry are analyzed annually by Parascript software. Parascript offers its technology both as software products and as software-enabled services to our partners. Our BPO, service provider, OEM and value-added reseller network partners leverage, integrate and distribute Parascript software in the U.S. and across the world. Visit Parascript.

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Source: Parascript