Case Study: Tokio Marine HCC cuts manual data entry by 80% with ValueMomentum's intelligent document processing

Tokio Marine HCC cuts manual data entry time by 80% with ValueMomentum

Tokio Marine HCC, a specialty insurer, faced challenges with its manual claims intake process. The insurer's system for extracting data from emails and attachments from various TPAs was time-consuming, error-prone, and lacked standardization, leading to inconsistencies in First Notice of Loss (FNOL) creation and claim classification. To modernize its operations and reduce loss adjustment expenses (LAE), the company partnered with ValueMomentum for an Intelligent Document Processing (IDP) solution.

ValueMomentum implemented an AI-powered IDP solution to automate data extraction from diverse document formats and integrate it with the claims workflow. The system featured human-in-the-loop validation before FNOL creation in Guidewire ClaimCenter, ensuring accuracy and standardizing claim categorization. This initiative by ValueMomentum resulted in an 80% reduction in manual data entry time and a significant decrease in LAE, while also establishing a framework for future AI-driven projects.

Tokio Marine HCC