KoiReader Technologies, the pioneer of Autonomous OCR AI technology, proudly announces its strategic collaboration with Loadsure, a forward-thinking Insurtech MGA, providing revolutionary insurance solutions to the cargo and logistics community.
By natively integrating KoiReader’s autonomous Optical Character Recognition (OCR) API – which was purpose built for the logistics industry – in its insurance platform, Loadsure enhances its insurance claims processing capabilities, giving supply chain assured’s the quickest resolution possible.
KoiReader’s cutting-edge technology enables automated ingestion and validation of cargo claims information, through real-time, autonomous processing of complex, multipage documents, with zero touch in a lights out operation. The transformative solution went live in 2023 and automates the digitalization of information from a wide range of cargo documents, including commercial invoices, packing lists, inland bills of lading, consignment notes, and delivery receipts.
Notably, KoiReader’s Autonomous OCR API excels in its ability to conquer complexity, even with multi-page documents, giving Digital Freight Forwarding, Drayage, Cargo Insurance, and other Logistics platforms (TMS, Global Trade, Customs, etc.) a solution that will modernize and in-source their document processing workflows.
Unlike traditional OCR solutions that struggle with layout variations, document complexity, AI model training, or poor image quality, KoiReader’s Computational Engine overcomes common discrepancies to deliver accurate data extraction. This empowers Loadsure to process even the most intricate documents with astonishing accuracy, regardless of inconsistencies or irregularities.
“When two industry disruptors come together, you can expect real value creation. This is just the start of our strategic partnership, and we are working on a much broader collaboration across multiple transportation modes and several cargo industry use cases,” said Ashutosh Prasad, Founder & CEO of KoiReader Technologies.
“We’re delighted to integrate KoiReader into the Loadsure platform – reliably automating the ingestion of claims information relieves our customers of an unnecessary time-burden and enables the quickest-possible review, approval and payment of claims; making our assureds whole and delivering best-in-class claims service.” says Justin Murphy, EVP of Claims at Loadsure.