Major European Insurance Company
AI-Powered Claims Processing for European Insurance Company
The Challenge
An insurance company processed 100,000+ claims annually with 5-day average processing time, 12% error rate, and €1.2M annual operational costs. Manual document review and data entry created bottlenecks, delayed payouts, and customer dissatisfaction.
Our Solution
We developed a custom ML system that automatically extracts claim information from documents (photos, PDFs, handwritten forms), validates against policy terms, and routes to appropriate handlers. The system learns from historical claims to improve accuracy and reduce false positives. Integrated with their legacy claims management system.
Results
- 4 hours
- Processing Time
- 0.8%
- Error Rate
- €280K/year
- Cost Savings
- 4 months
- ROI Timeline
Reduced from 5 days to 4 hours average
Decreased from 12% to 0.8%
Annual savings in labor and error costs
Full return on investment achieved