Digital Transformation Consulting

The case study details how a client in the insurance underwriting industry faced significant challenges due to increasing underwriting submissions, a growing talent gap caused by an aging workforce, and heightened customer expectations for rapid sales and service. These issues led to difficulties in maintaining efficiency and quality in the underwriting process. To address these niche issues, the solution involved implementing AI and generative AI technologies to automate and augment underwriting tasks. Specifically, an intelligent ingestion system was developed to extract key data from emailed submission documents, which was then used to populate a user-friendly dashboard for underwriters. This targeted approach helped streamline administrative tasks that previously consumed about 40% of an underwriter’s time, allowing underwriters to focus on core decision-making activities.

As a result of this tailored solution, the client experienced a 2x improvement in submission-to-quote rates, significantly enhancing their capacity to process more submissions efficiently. The automation and augmentation of workflows enabled underwriters to work more quickly and accurately, ultimately increasing revenue by allowing them to identify and pursue more suitable submissions aligned with their risk appetite. Furthermore, this implementation helped scale AI investments across the underwriting function by establishing disciplined practices for reusing AI solutions with consistent UI/UX. These efficiencies not only reduced workloads but also positioned the client to better meet evolving customer expectations and gain a competitive edge in the market.