Case Study: a leading insurance brokerage firm in the U.S. cuts COI processing time with EXL XTRAKTO.AI

a leading insurance brokerage firm in the U.S. cuts COI processing time by 50% with EXL

EXL helped a leading insurance brokerage firm in the U.S. overcome a highly manual and inefficient process for issuing Certificates of Insurance. The client was manually processing about 500,000 email requests annually, which contained unstructured data and various attachment types. This process was costly, made capacity planning difficult, and negatively impacted service turnaround times.

The solution centered on EXL XTRAKTO.AI, which used NLP and computer vision to automate data extraction and processing. EXL integrated the platform with the client's systems and provided supporting services. The results included a 50% reduction in both processing time and operating costs, leading to annual savings of approximately $2 million, while also improving accuracy and enhancing the customer experience.