The Challenge
The regional insurance agency was on the brink of substantial growth but faced a critical roadblock: the difficulty in finding qualified candidates to support this expansion. A significant portion of their time was consumed by the manual processing of ACORD documents, which was not only time-intensive—taking up to 30 minutes per document—but also prone to errors. This inefficiency was a major bottleneck, preventing the agency from scaling effectively and leveraging their existing employees to their fullest potential.
The Solution
In search of a solution, the agency turned to an AI and automation accelerator that leverages RPA bots, OCR, and custom-trained AI models to automate the extraction of data from ACORD documents and integrate it into AMS360. After evaluating various solutions, the agency selected this AI-driven tool for its robustness and seamless integration capabilities. The implementation process was smooth and quick, allowing the agency to start reaping the benefits almost immediately. John Doe, the Agency Manager, noted, 'The AI and automation solution has been a game-changer for our agency. We can now process ACORD documents in a fraction of the time, with greater accuracy, and without adding headcount.'
The Results
The results were nothing short of transformative. The time required to process each ACORD document was slashed from 30 minutes to just 3 minutes. This drastic reduction in processing time not only eliminated errors but also significantly improved operational efficiency. Remarkably, these improvements were achieved without the need to increase headcount, allowing the agency to grow and scale seamlessly. The enhanced efficiency enabled the agency to better leverage their existing workforce, positioning them for continued growth and success.
