KoiReader Technologies has teamed with Loadsure to provide its autonomous OCR AI technology solutions to the cargo and logistics community.

By natively integrating KoiReader’s autonomous optical character recognition API – which the technology firm says was purpose built for the logistics industry – insurtech MGA Loadsure aims to enhance its insurance claims processing capabilities and give supply chain assureds faster resolution.

KoiReader’s technology enables automated ingestion and validation of cargo claims information, through real-time processing of complex, multipage documents. The solution went live in 2023 and automates the digitalisation of information from a wide range of cargo documents, including commercial invoices, packing lists, inland bills of lading, consignment notes, and delivery receipts.

Ashutosh Prasad, founder and CEO of KoiReader Technologies, said: “When two industry disruptors come together, you can expect real value creation. This is just the start of our strategic partnership, and we are working on a much broader collaboration across multiple transportation modes and several cargo industry use cases.”

Justin Murphy, EVP of claims at Loadsure, added: “We’re delighted to integrate KoiReader into the Loadsure platform. Reliably automating the ingestion of claims information relieves our customers of an unnecessary time-burden and enables the quickest-possible review, approval and payment of claims; making our assureds whole and delivering best-in-class claims service.”