Case Study: a leading insurance company achieves instant automated underwriting decisions with RapidValue Solutions

Leading Insurance Company - Customer Case Study

The leading insurance company, a major provider in India, was struggling with an outdated and costly proprietary underwriting system. Unable to handle over 1,000 daily applications, the process required extensive manual review, leading to significant business loss due to slow response times that frustrated customers. The company engaged RapidValue Solutions to overcome these technology limitations and implement a new automated solution.

RapidValue implemented a scalable Underwriting Decision Engine (UDE) utilizing RPA, AI, and ML. This new system automated 97% of applications, allowing for instant decisions and enabling non-technical staff to author rules easily. The measurable results included a dramatic reduction in manual processing effort and a significant increase in applications approved in under five minutes. The solution was rolled out in just four months, allowing the insurer's underwriters to focus on complex cases.