The ACORD 125 Commercial Insurance Application skill extracts data from the ACORD® standard form for commercial insurance applications - a four-page document used to record general information about the client, such as: business location and contact details, business description, prior insurance, and loss history. The skill can be used by insurers as part of an automated customer onboarding process, which allows for applications to be processed quickly and required data to be collected and validated without time-consuming and costly manual effort.

• Vantage document skills are extraction models, based on ABBYY's purpose-built AI, designed and trained to extract key data from business documents.
• Preview document skills provide a quick-start basis for conducting proof of concept and automating document-centric processes, without wasting time to train a new skill from the ground up. In most preview skills the main data fields have been labeled and the skill has been trained on a small document set to provide a starting point for further training on customer side. Preview skills generally come at no additional cost, but consume page volume from the base Vantage Core Skills volume.
• The model automatically detects all fields on the ACORD 125 form and extracts relevant information (date, agency, underwriter, applicant name and address, proposed effective date, nature of business etc.). For a full list of extracted fields, please see the skill documentation.
• Includes validation and data normalization rules. Further business rules can be added as required.
• Can be augmented by human-in-the-loop review and verification based on accuracy thresholds, missing or incorrect information.
• Requires further training in order to ensure sufficient accuracy levels on customer-specific documents. Training can be done up-front or during runtime as documents arrive and go through manual verification.