Automating Insurance Claim Resolution
Insurance
Business Impacts
Reduced turnaround time to process claims within one day
Cost Saving and Operational Efficiency
Improved Customer Satisfaction
Customer Key Facts
- Location : North America
- Industry : Insurance
Problem Context
Customer, an American insurance company providing financial protection to more than 50 million customers worldwide, processes ~13M claims annually. The need for manual review of unlabeled and semi-structured documents made the data gathering process slow, inconsistent, and difficult to align with business priorities.
Challenges
- Information extraction from unstructured documents
- Input data preparation from legacy databases
Technologies
Neptune
Texttract
Sagemaker
Lambda
Amazon S3
Amazon RDS
Solution
Quantiphi built an end-to-end Claim Adjudication Platform to extract, classify, annotate and index the documents submitted for proof of loss and other relevant information. The platform further leverages predictive analytics for claims decisioning and conversational AI for customer communication.
Result
- Simplified and Digitized Claims Capture
- Reduction in Error Rates across Claims Paid
