Key highlights
>40 percent
reduction in underwriting document time
>35 percent
cost optimization
>50 percent
reduction in error
Challenges
1.
Manual underwriting of large volumes of diagnostic reports took up considerable time and led to frequent errors.
2.
Report extraction and processing lacked adaptability, causing inconsistencies and delays that impacted client service.
3
Underwriters and agents/brokers struggled with complex collaboration.
Solution
1.
The solution uploaded medical diagnostic reports to a central repository, triggering automated document processing.
2.
The solution extracted information in a standard format and verified it automatically, processing documents based on predefined criteria.
3
The solution generated decision documents and shared them with human reviewers to approve or override the decisions when necessary.
4
The solution sent automated notifications to agents once the final decision was confirmed and submitted.
Impact
Reduced manual effort and improved accuracy The solution reduced manual effort, improved accuracy, and accelerated decision-making.
Clarity and consistency Structured reports offered clarity and consistency.
Auto-underwriting for simple cases The solution auto-underwrote simple cases without manual intervention.
Seamless collaboration Underwriters and agents collaborated seamlessly.