Case Summary
A leading P&C insurer needed to reduce manual intervention in managing documentation. SLK implemented AI-driven automation for data extraction from unstructured documents, strategically involving human oversight to ensure accuracy. This approach accelerated turnaround times, reduced person-hours, and significantly improved operational efficiency.
The Challenge
- Managing extensive documentation requirements with high manual intervention.
- Processing 40-page policies required significant human involvement, causing delays.
- Long client wait times impacted net promoter scores.
- Conventional technologies like OCR and RPA were inadequate for unstructured documents.
- Needed a partner to automate processes, reduce human effort, and improve efficiency.
The Solution
- Implemented novel extraction techniques using NLP/OCR/computer-based vision-based geometry and synonyms from structured and unstructured application forms.
- Helped extract data from diverse sources like email submissions and attachments.
- AI-based classification ensured accurate document version control.
- Human in the Loop was used for handling exceptions and approvals.
- Streamlined and automated processes reduced delays and improved efficiency.
Business Impact
> 90%
Accuracy
10x
Improvement
in efficiency
40%
Submissions
automated
15 Min
Processing time to extract 145 parameters
