Case Study: Insurance Company reduces KYC inspection costs by 50% with Nanonets

Insurance Company - Customer Case Study

Insurance Company faced a slow, manual KYC onboarding process for savings accounts, fixed deposits, mutual funds, and insurance applications. Reviewers had to inspect uploaded identity documents such as PAN cards, driver’s licenses, and Aadhaar cards for quality, completeness, and signs of fraud, then manually enter the data into internal systems. This created delays of up to two weeks and left room for human error in both verification and data entry.

Nanonets provided KYC automation through its API, using OCR and fraud detection to validate document images, flag issues instantly, and extract data automatically into the company database. With Nanonets, the Insurance Company reduced manual review time from days to seconds and cut inspection costs by more than 50%, while also improving the customer onboarding experience and increasing automation accuracy.