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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negatively impacted customer service efficiency, as agents struggled to keep up with the demands of their roles using outdated technology.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 decision-making. This efficiency gain has allowed agents to dedicate more time to personalized customer interactions, thereby enhancing customer relationships and trust. Furthermore, the solution has positioned the insurer for global expansion, as the operational efficiencies gained have sparked interest in exploring additional modernization opportunities across the organization. Overall, the collaboration with EY has not only streamlined the insurer's processes but has also catalyzed a broader transformation within the enterprise, demonstrating the potential of AI to drive significant value in the insurance industry.
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