Omniscience recently disclosed that it has been granted a patent for the first use of Augmented Reality (AR) for a key Computational Enterprise™ enabling application. The Computational Enterprise is a next-generation model for modern businesses.
This patent allows businesses to capture and process hand-written or typed material using a cell phone or mobile device. With this capability, end-customers and consumers can provide substantial information to insurance companies or other business that need information about their customers. This data-liberation advance is one of many technologies that underpin the Omniscience platform.
The potential uses for insurers are varied, from capturing notes made at the scene of an incident by policyholders or loss adjusters, to letting consumers submit various contractual or legal text as part of an ongoing claim, especially one that onvolves third parties.
“The future of nearly all enterprises is to be able to use the vast amounts of data – from consumers, information agencies, medical sources, regulators, and the entire company – regardless of its original format or medium — to tailor the services offered to individual customers,” said Manu Shukla, Co-Founder and CTO of Omniscience. “The capability made possible by this patent makes it easy for customers to provide their personal information in a private, digitized manner and is a critical entry point for our vision of the Computational Enterprise.”
One of the breakthroughs in this patent is to use principles of augmented reality to digitize the data from each form, regardless of its complexity, at the source. These techniques have been used in the past for mapping, check deposits, and games but never for multifaceted business forms.
Omniscience (www.omniscience.com) is the first company to enable the Computational Insurance™ business. Because of unique breakthrough distributed technology that can process many layers of business and data complexity completely and rapidly, Omniscience customers can approach their businesses in entirely new ways. Instead of this complexity inhibiting good decisions, insurance customers can use the vast amounts of data from inside and outside sources to make good business decisions that continuously improve the entire company while increasing transactional speed.
Ultimately, Omniscience Computational Insurance solutions optimize insurance and financial services companies grow market share, save on costs, boost return on equity, and increase regulatory compliance. Over time many additional Computational Enterprise™ markets will benefit from Omniscience to handle the chaos in their environments. Based in Palo Alto, CA, investors in Omniscience include Guardian Life Insurance Company of America, TD Bank, Translink Capital, and others