A huge area of need for many industries is the need to automate document processing. RPA (robotic process automation) platforms are helping drive efficiency for industries that still use paper forms to interact with consumers and Y Combinator has a 2020 cohort member that is tackling this head on with an impressive suite of products, we are excited to introduce you to Handl.ai.
Handl.ai’s current suite of products focus on two main areas, Insurance and Finance where there is still plenty of paper documentation. Claims, forms, identification, signatures and other key data points in these industries are still done through paper. Typically humans have to manually enter this data into systems that would then add that data to a database. This is a time consuming and error prone process that not only is slowing these businesses down, it is costing them money due to missing information.
Enter co-founders, Dmitry Matskevich, Alexey Hahunov, and team with their suite of RPA tools that utilize OCR and AI combines with an easy to use workflow interface to help build jobs that will extract data from paper documents and add that data into your database. The ability to build these jobs also can give businesses instant insight into these pipelines and spot abnormalities and when there might be an issue. It also enables them to offer a better customer experience because a customers data is instantly added to your system and decisions such as insurance claims, credit card applications, and other data-driven products can have near instantaneous results for the customer.
We discussed automation and RPA a few weeks back (link to article here), but we are generally bullish on the RPA vertical as new players continue to innovate in the space and operational efficiency will always be something that businesses are looking to implement and improve within their organization. Startups like HyperScience, Olive, and Spruce have all brought RPA to different industries and then all have continued to grow and drive fresh funding and Handl.ai is on a similar path.