Case Study: a Fortune 500 insurance company achieves faster policy booking and higher underwriter productivity with Soroco Scout AI

Fortune 500 Insurance Company boosts straight-through processing by 30% with Soroco

A Fortune 500 insurance company with over 34,000 employees faced critical challenges in its underwriting functions. Increased workloads led to errors and miscalculations, high customer dissatisfaction from missed SLAs, and significant reputation risks. The company engaged Soroco to deploy its Scout AI platform to find and fix these issues.

Soroco's Scout AI analyzed the underwriting team's work patterns and identified that only 30% of effort was spent on core activities, with the rest lost to information silos and toggling between over 50 applications. Scout recommended and helped implement both quick fixes, like user training and a document repository, and deep fixes, including a new workflow system and an intelligent underwriting assistant. The solution led to a 33% reduction in time to book new policies, a 30% increase in straight-through processing, and an estimated $3.75 million in annual savings for the customer.