Legal Services
Professional Legal Services
Full Credential Description
A leading insurance firm in the Nordics faced significant challenges in its claims management process, primarily due to the manual handling of claims that involved labor-intensive tasks such as analyzing unstructured data from various sources, including bills, invoices, and medical documents. This cumbersome workflow not only slowed down the processing of claims but also negatively impacted customer service efficiency, as agents struggled to keep up with the demands of their roles using outdated technology. To address these issues, the insurance company partnered with EY to develop a tailored AI-based solution aimed at modernizing its claims management process. The objective was to automate routine tasks, allowing agents to focus on building stronger customer relationships. EY introduced the EY Fabric Document Intelligence, an AI-powered product designed to convert semi-structured and unstructured documents into actionable structured data. This solution utilized advanced technologies such as machine learning, optical character recognition (OCR), and natural language processing (NLP) to streamline the claims processing workflow. Since the implementation of this AI solution, the insurance firm has experienced remarkable improvements. Approximately 70% of the documents processed by the system are now correctly extracted and interpreted, significantly accelerating claim processing times. This enhancement has allowed agents to dedicate more time to personalized customer interactions, fostering deeper relationships and trust. Furthermore, the solution has empowered the insurer to explore additional modernization opportunities, aligning with their long-term business goals and facilitating their expansion into new markets. The collaboration with EY has not only transformed the insurer's operations but has also demonstrated the potential of AI to drive exponential transformation within the industry.
Qualifications & Expertise
Leading international law firm with verified case studies