Case Study: a leading insurance brokerage firm accelerates COI processing with EXL XTRAKTO.AI

EXL helps large insurance broker process Certificates of Insurance with speed and efficiency

A leading insurance brokerage firm in the U.S. faced the challenge of manually processing over 500,000 unstructured email requests for Certificates of Insurance (COIs) annually. This highly inefficient process made capacity planning difficult and severely impacted turnaround times, creating a need for an automated solution. The firm selected vendor EXL to address this capital-intensive challenge.

EXL implemented its EXL XTRAKTO.AI solution, which used natural language processing and computer vision to automate COI processing. The EXL system integrated with the client's technology, slashing processing time and cost. Within three months, EXL's solution achieved an 80% accuracy rate, reducing operating costs and turnaround time by 50%, generating ~$2M in annual savings, and allowing for a 50% reduction in dedicated staff.