Challenge

To effectively service its growing client base, one of the leading insurance brokerage firms in the U.S. had to find a more efficient way of issuing Certificates of Insurance (COIs) to insurance requestors. Requestors require certificate holders to present adequate proof of insurance to reduce their own liabilities and exposures before conducting business.

The client’s process of providing COIs was painfully manual and capital intensive. The primary means of exchanging information with their Requestors was through emails where the necessary details were sent through any means possible. The client also lacked the technology necessary to extract meaningful data from such unstructured requests.

Instead, they were manually processing approximately 500K email requests from 8K+ policy holding companies annually. These emails typically contain a wide assortment of attachments, including spreadsheets, PDFs, text documents, images, including handwritten content. What’s more, the ad-hoc nature of these requests made capacity planning difficult, further impacting turnaround time. The situation called for a more effective, automated, real-time COI solution.