Digital Intake Solution For Insurance
Digital intake solution for insurance
Digital intake solution for insurance
The insurance industry spends countless hours and billions of dollars on capturing information from more than 3B documents and rekeying data into multiple downstream systems. From 5 to 10% of enterprise bandwidth and related costs are engaged in the processing of content.
EXL’s Digital Intake solution is a key enabler to drive contactless experience and a catalyst to unlock value from automation, analytics, and AI-based digital transformation. Insurers can improve their customer experience with greater savings. We have seen an improvement of automation throughout by up to 70% straight-through processing, resulting in improved customer experience and savings.
What we do
EXL has developed a machine learning-based Digital Intake solution for insurance that blends the experience and knowledge of high-performing employees with the precision and effectiveness of a well-oiled machine.
Today, smart digital intake solutions are improving customer experience, reducing operating costs, accelerating digital transformation, and maximizing operational resiliency across business functions. As machine learning models continue to evolve, we find the best results are coming from narrowly defined use cases, such as underwriting, claims processing, and policy maintenance, to yield rapid results.
EXL’s solution is tailored to business requirements through leveraging a combination of tools and technologies instead of a specific, off-the-shelf product that might not yield best results in different business contexts.
Improve customer experience
- Omnichannel support
- Real-time tracking of service requests
Reduce operating cost
- Saves manual effort by 45-50%
- Capacity creation for highly skilled resources
Enable digital transformation
- Improve end-to-end automation rates
- Support business decisions through improved analytics
Build resiliency
- Reduce COVID-19 exposure by elimination of paper
- Eliminate potential bottlenecks
in paper processing
Proven outcomes
Across several large insurance clients, EXL was able to deliver the below sampling of delivered value and results:
How is EXL's Digital Intake different?
Modular and flexible solution to select best-fit digital capabilities based on content variability
Training models to enrich OCR/ICR, knowledge base, improve extraction quality, and increase STP%
End-to-end workflow transformation with deep domain expertise
Multiple implementation options, including cloud based architecture, to suit client requirements and accelerate time to value
