Multibagger IT Stock engaged in the business of software development and providing software product licenses, related services, and many more jumped 2 percent upon announcing the World’s first no-touch loss run extraction technology.
With a market capitalization of Rs. 14,632 Crores, the shares of Intellect Design Arena Limited were trading at Rs. 1070, up 1.15 percent from its previous day’s close price of Rs. 1,057.
Intellect Design Arena Limited’s Insurtech and Wealthtech brand named IntellectAI today announced the release of the world’s first no-touch loss run extraction technology powered by Gen AI and built on Intellect’s eMACH.ai architecture.
This ground-breaking technology utilizes the strength of Large Language Models to extract data from loss runs in an instant with greater than 95 percent accuracy across all document formats.
Insurers should be able to extract loss data quickly, with outcomes that are easy to read, easy to follow, and with a high rate of accuracy. We’ve been able to make this possible through our advanced use of Gen AI technology.
Following this Insurance Business Head, of IntellectAI, said “We have solved a problem that the industry has struggled with since generating the first loss run output, and we are now able to accurately extract the loss run information and summarize it. Using AI, we’ve created this capability that now allows insurers, agents, brokers, wholesalers, and MGAs to start saving time and money right away
Intellect Design Arena Limited is engaged in the business of software development and providing software product licenses, related services, and many more. It has a product portfolio across global transaction banking, global consumer banking, intellect AI, etc.
Its revenue from operations grew by 18.80 percent from Rs. 1,878 Crores in FY22 to Rs. 2,231 Crores in FY23, accompanied by profits of Rs. 350 Crores to Rs. 269 Crores.
Written by: Bharath K.S
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