In one of our previous posts, we discussed what OCR (Optica Character Recognition) is. Now let's some applications.

Here are a few common use cases OCR across industries:

• Healthcare: OCR is used to extract patient information from scanned documents and electronic medical records, such as insurance claims and medical reports.
• Finance: OCR is used to process invoices, extract data from financial statements, and process check and credit card payments.
• Legal: OCR is used to digitize and organize legal documents, such as contracts and court filings.
• Government: OCR is used to process passports, visas, and other identification documents, as well as to extract data from census records and voter registration forms.
• Retail: OCR is used to process and track customer orders, as well as to extract data from receipts and invoices.
• Manufacturing: OCR is used to extract data from production reports, quality control documents, and shipping manifests.
• Transportation: OCR is used to process shipping labels and track packages, as well as to extract data from vehicle registration and maintenance documents.
• Education: OCR is used to digitize and organize student records, such as transcripts and enrollment documents.

At Sense6, we have the most expertise using this technology within the insurance industry. Here are a few more applications:

• Claims processing: Extracting information from insurance claims forms and supporting documentation, such as medical bills and repair estimates. Verifying the accuracy of the information on the claims forms. Identifying and flagging potentially fraudulent claims. Routing the claim to the appropriate department or adjuster for further review
• Underwriting: Extracting information from insurance applications and supporting documentation, such as medical records and driving records. Verifying the accuracy of the information on the application. Evaluating the risk of insuring a particular individual or business based on the extracted data to determine the appropriate premium for the insurance policy
• Other insurance applications: Extracting data from policy documents and other legal documents. Digitizing and organizing paper-based records, such as policy manuals and customer files. Generating reports and analytics based on extracted data.

We hope the above applications have given you ideas of how to use OCR (and subsequent classification analytics) to improve your workflows, whether you are a small business owner looking to streamline your operations or a large corporation looking to digitize your records. We believe in the power of OCR!