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Solutions

Correspondence Management

Overview
Ripcord provides correspondence management to the insurance and financial services markets. The Ripcord solution places focus on digitization of information of digitally native content (email, FTP servers) and paper documents. With full capability to support the mail room operations of opening, scanning, processing, data verification to the data classification, indexing and entity extraction. This is complemented by a full content services platform, providing data accessibility with multiple views, data export and API integration capabilities to other systems.
Who we serve and how to learn more

Are you a line of claims leader, customer correspondence process owner or delivery leader of these vital services, we can help!

Do you drive Strategy, Innovation, Finance, Compliance or Customer Operations within your company? 

Let’s talk and discuss how Ripcord help.

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Business challenges we address
Rising consumer expectations continue to drive the need for multi-channel communication and to ensure a more unified and responsive end customer management experience. With 30 percent of customers switching carriers within a year of having a bad claims experience, having a 360 degree view of customer information and documents is vital. Access to key content and utilizing content for swifter customer engagement is a necessity in a competitive landscape.
Ripcord helps our customers:

  • Improve customer correspondence management and communication with customers focused on customer retention, revenue growth and overall customer satisfaction

  • Make sense of different content types and structures of information for correspondence categorization

  • Manage an end to end digitization to business services enablement

  • Easily access and manage the content and data using deep contextual awareness to aid in the improvement of the customer experience and lifetime customer value

  • Integration services to connect with ERP’s, CRM’s and other approval workflows to support shorter underwriting cycles, customized plans and flexible policy administration

  • Create greater transparency and the ability to provide more regular updates to teams and the customers they support

Source on the lending growth:Deloitte
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Benefits and our differientiation
Greater efficiency

Ability to quickly digitize and access content using automated software, is vital when businesses experience an increase in remote working. As a whole, having less reliance on physical data storage and the inefficiencies this creates; instead relying on robotic digitization to allow for faster access and higher quality digital content that preserves and enhances the business content value.

Laser focus on adding value to your business outcomes

Deeper content understanding helps our clients drive business process improvement and informed cross functional decision making. In addition to classification, extraction and tagging content: smarter analysis and contextual awareness using ML and AI models allow for stronger processes and RPA enablement resulting in flexible export and transfer capabilities. The outcome is a better understanding and use of unstructured content in more consistent formats to allow for improved leverage of the content across the business.

Infusing Innovation

Our Integrated approach can be further enhanced with Ripcord’s Content Services platform Canopy creating a layered software approach enabling new services and microservices. Choosing this approach creates a strong digital native aggregated experience resulting in improved connectivity and business process enablement.

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Our offering features
Digitization

Computer vision guided robots.

Offer automated digitization at scale managing high volumes lowering labor costs and increasing productivity.

High quality resolution images up to 1000 dpi.

Document assembly software using sensors to understand content structures.

Data Extraction

Best of breed OCR, classification tools to address different content structures automated using ML and AI models.

Reduction in manual interventions leveraging heavier automatic data extraction and system- based approvals.

On-going automation through ML for all core document and content types.

Content & Process Services

Centralized cloud first content services platform.

Focused on Customer Experience with strong data presentment and taxonomy features.

Integration Services.

Content lifecycle, compliance and simple approvals workflows.

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