A cutting-edge application was developed and delivered to accelerate the detection of issues in restoration invoices. Leveraging the latest AI/ML technologies and process management techniques, the application extracts and evaluates data to ensure invoices are compliant, appropriate, and payments are reasonable. This solution helps property owners, insurance companies, building restoration contractors, and brokerage firms eliminate and negotiate invoice irregularities more efficiently, adhering to industry standards.
Key features of the solution include:
Minimizing Manual Data Entry: Reduces the time required for invoice evaluation by automating data extraction and analysis, lowering risk for insurance companies and creating additional capacity for auditors. This enables faster payments to restoration companies.
Automated Audit Execution: Provides consistent, detailed assessments for invoices of all sizes, even during peak periods such as CAT season, ensuring a thorough and reliable review process.
Rules-Based, Transparent Platform: Rest-Assured’s data-driven, independent platform ensures fair and consistent invoice assessments, eliminating biases and providing a clear audit trail.
Data-Centric Technology: Utilizes advanced tools for data extraction, cleansing, and evaluation, while also anonymizing data to offer insights into industry patterns and trends.
High Security Standards: Built with industry-leading practices for data protection and service continuity, ensuring the security of sensitive information.