Case Study: a leading multinational reinsurance corporation achieves $3.3M cost reduction with Neudesic's Document Intelligence Platform

a major reinsurance company cuts processing errors by 95% with Neudesic

The client, a leading multinational reinsurance corporation, faced a significant challenge in manually processing nearly 10,000 complex life insurance applications each month. This arduous task required a team of 60 processors and took an hour per application, leading to high costs and potential for errors. To address this, they partnered with Neudesic to implement an automated document processing and classification system that could handle sensitive data while maintaining security and compliance.

Neudesic implemented its Document Intelligence Platform, built on Microsoft Azure, to automate the extraction and classification of data from the complex application documents. The solution delivered exceptional results, including an estimated $3.3 million in cost savings, a 99% increase in processing speed, and a 95% reduction in manual errors for the client. The success of this initial phase has positioned Neudesic's platform to be expanded across other geographies and use cases within the organization.