The SDC solution uses Optical Character Recognition (OCR) software to extract data items from documents and structure the data to conform to the ACORD GRLC 2013-06 standard.
The data extracted by the OCR process is then quality checked by Operators to ensure the OCR is accurate and complete.
The OCR process and Operators validate against extraction ‘rules’ for each data item that gets extracted. See the SDC Extraction and Mapping document for these rules and the ACORD data mappings.
SDC is designed around the MRC standards which allows SDC to extract information from fixed ‘headings’ within the document, e.g., SUM INSURED and PREMIUM. The Service is therefore reliant on documents complying with the guidelines. Not following the guidelines will likely result in a poorer quality extraction or even a rejection.
Where documents cannot be processed, they will be rejected with a reason for the rejection.
The following are the more common rejection reasons:
The turnaround of documents to data available to carriers is often under four hours.
The published SLA’s for the SDC service are:
Business days taking into account all weekends and bank holidays.
Read the guidelines for all documents (including Lloyd’s Europe) on the LMG website.
Find out what document types and functionality are currently supported in SDC.
Visit our contact page if you have a query.