Digitizing the Insurance Lifecycle: End-to-End Underwriting and Claims Automation for a Leading Indian Insurer
Quantiphi empowered a customer to slash manual effort by 50%, shifting their focus to high-value strategy. By leveraging 98.7% classification and 96.8% extraction accuracy, their speed-to-market was accelerated: quotes now take under 3 minutes, while policy issuance drops to under 10 minutes (STP) and less than 20 minutes for complex cases.
About the Client
The client is a prominent general insurance powerhouse in India. They manage an expansive portfolio and provide mission-critical coverage to millions of retail and enterprise customers.
Problem Statement
One of India’s largest general insurance providers faced operational bottlenecks due to fragmented, manual workflows across underwriting and claims. By deploying Dociphi, Quantiphi’s AI-led Intelligent Document Processing (IDP) solution, the client transitioned from labor-intensive manual entry to a seamless, automated ecosystem—significantly reducing “Time-to-Quote” and enhancing risk oversight.
Challenges
Despite its market-leading position, the client’s back-end operations struggled with several critical inefficiencies:
- Manual Overload: Quotes and policy creation relied on heavy manual data entry from diverse document types (Fire, Marine, Motor, Health, etc.).
- Fragmented Communication: Broker and client interactions via email were often unlogged, leading to data silos.
- Resource Misallocation: Skilled underwriters spent more time on data extraction than on complex risk assessment.
- Oversight Gaps: A lack of centralized tracking created unrecognized risks and slowed down the claims settlement process.
The Solution: End-to-End Digitization via Dociphi
Quantiphi implemented a multi-modular solution using Dociphi to automate the document-heavy stages of the insurance lifecycle.
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Automated Policy Creation & Underwriting
Dociphi acts as the “intelligent gateway” for all incoming business:
- Ingestion & Extraction: Automatically monitors email inboxes to ingest broker/client documents, classifying them and extracting key entities with high accuracy.
- The Underwriting Workbench: Provides a centralized dashboard where underwriters can modify premium ratings and approve quotes quickly in real time.
- Instant Quote Generation: Automatically generates formal quotes and triggers them back to the client/broker for approval.
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Dynamic Endorsements & Certificates
The solution streamlined the often-tedious process of policy mid-term adjustments:
- Real-time Processing: Ingests change requests and applies automated, rule-based reviews.
- Collaborative Creation: Sales, Underwriting, and Ops teams can now issue endorsements and certificates through an intelligent, rule-governed framework.
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Seamless Claims Processing
The AI extension ensures the “moment of truth” for the customer is handled swiftly:
- Inbox Monitoring: Dociphi identifies claim requests dynamically and effectively route them
- Automated Review: Uses pre-defined business rules to review claim validity, facilitating faster approvals or flagging anomalies for human intervention.
Results and Impact Created
By leveraging automated processing and high-accuracy data handling, the solution delivers the following key business advantages:
- Significant Operational Efficiency: Achieves a 50% reduction in manual effort, allowing the team to pivot from tedious data entry to high-value strategic tasks.
- Rapid Speed-to-Market: Accelerates core processes with Straight-Through Processing (STP) delivering quotes in under 3 minutes and policy issuance in under 10 minutes.
- Enhanced Precision: Minimizes human error through industry-leading reliability, with a 98.7% average classification accuracy and 96.8% extraction accuracy.
- Streamlined Non-STP Workflows: Even complex cases (NSTP) see a performance boost, with policy issuance completed in less than 20 minutes.
- Cost-Effective Scalability: Provides a stable, automated framework that reduces overhead costs while ensuring the business remains agile and competitive.