July 15, 2014

New York Life Direct has announced that it is working with Captricity, a software-as-a-service document capture company, to digitize up to half a million paper sales leads per year.

"Captricity's unique business model enabled us to quickly pilot the technology, which we are now rolling out across the organization," says Josephine Saletto, Corporate Vice President of Accounting at New York Life Direct, in a statement.

Captricity, which also works with Humana, uses machine learning to supplement human intelligence in converting paper documents to digital forms.

"We're excited to … partner with New York Life as we continue to expand the work we do in heavily regulated markets with serious enterprise demands, especially government, healthcare and insurance, which are paper-intensive and have strict security and compliance requirements," says Captricity founder Kuang Chen, in a statement.

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Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, ...