Policy Data Extraction

Policy schedules carry the core facts of a policy — sums insured, premiums, coverage periods, endorsements — in a layout that differs by insurer. Policy Data Extraction applies PolicyIQ | Extract's Insurance Document OCR specifically to these schedules.

Retyping a policy schedule's fields by hand is one of the most repetitive tasks in insurance operations, and one of the easiest places for a transcription error to slip into a record that gets relied on later. Policy Data Extraction turns that manual step into an automated read of the same document.

What challenges does Policy Data Extraction address?

• Policy schedule fields buried in dense, inconsistent layouts
• Manually re-typing sums insured, premiums and coverage periods
• Errors that carry through to downstream records
• No easy way to feed extracted data into a broking system

How does it fit into PolicyIQ | Extract?

Extracted policy data passes through Data Validation before it reaches a brokerage's systems, and can feed directly into PolicyIQ | One's Policy Management through the OCR API.

What does Policy Data Extraction include?

• Field-level extraction of sums insured, premiums and coverage periods
• Endorsement details captured alongside the base policy
• Output validated before use
• A direct connection into systems like PolicyIQ | One via the OCR API

What outcomes does Policy Data Extraction support?

• Faster policy data entry
• Fewer transcription errors in core policy fields
• Structured data ready for policy management systems

Related PolicyIQ | Extract capabilities

• Insurance Document OCR — the general reading capability behind this feature
• Data Validation — checks extracted policy fields for consistency
• Back to the PolicyIQ | Extract overview