Case Study: a largest global P&C insurance company expedites claims resolution with Ripcord

Leader In Sciences Mitigating Risk and Enabling Cost Savings

A major global property and casualty insurance company faced the challenge of managing a high volume of claims-related documents through an inaccurate, slow, and labor-intensive manual process. Their previous system took up to ten days for a document to reach the claims team, creating delays and potential compliance issues. To expedite claims resolution, they partnered with Ripcord for its digitization, AI data extraction, and data reconciliation solutions.

Ripcord implemented a solution that uses robotic digitization and machine learning to automatically classify documents, extract key metadata like claim numbers, and reconcile data with legacy systems. This drastically reduced the manual effort, as each document no longer needed to be handled four times by contractors. The results were significant, with Ripcord slashing processing time from up to ten days to under 48 hours, enabling faster claims resolution and eliminating human error through built-in quality reviews.