Case Study: a leading US specialty property and casualty company automates 85% of claims document indexing with Foundation AI

Foundation AI Helps Specialty Insurance Company Automate 85% of Inbound Claims Document Indexing with No Human Intervention

A leading US specialty property and casualty company faced a significant challenge with its claims department, which was inundated with thousands of daily correspondence items, nearly 30% of which were missing claim numbers. This required a team of Claims Coordinators to spend the majority of their time on the manual, repetitive task of searching for and indexing documents, leaving little room for higher-value work. They turned to Foundation AI's claims indexing automation solution to address this issue.

Foundation AI implemented its AI-powered software to automatically classify, match, and index documents. The solution integrates with existing systems, using deep learning models to find claim numbers or extract other identifiers to search the database. This automated 85% of inbound document indexing with no human intervention. For the remaining documents, a human-in-the-loop process greatly expedites handling. The results saved the company thousands of FTE hours per year, reduced operating expenses, and allowed staff to refocus on customer service and revenue generation.