Insurance company launches AI offensive for smart contract management

Goal: Reduce complexity of legacy portfolio, accelerate support processes, centralise knowledge – realised with in-manas

Overview

Problem

  • Large number of complex, individual insurance contracts
  • Finding information in these contracts is time-consuming and requires specialist knowledge
  • Contract-specific knowledge is often personalised – risk during staff changes and peak periods

Solution

  • AI-based contract analysis with INNO-VERSE / in-manas
  • Relevant information is extracted, provided with metadata and made available to all employees
  • AI answers customer inquiries based on contracts

Benefits

  • Massive time saving
  • Relief and empowerment in support
  • Securing knowledge and scalability for the future

The starting point

An AI-supported platform as an intelligent funding navigator

As a growth-orientated insurance company, a large number of products have been developed, adapted and expanded over the years. Particularly in the old portfolio, there are contracts with complex, customised conditions, some of which differ significantly in terms of structure and language.

This diversity creates significant challenges in day-to-day business:

  1. Contract terms have to be extracted manually – often by legally trained staff.
  2. Support staff need extensive experience to be able to provide competent information.
  3. Customer enquiries about old contracts can sometimes take days to research.
  4. The effort is high, the processes are difficult to scale and prone to error.

What's more, knowledge is very much tied to individuals, which increases risks when staff change or during peak periods.

The project

AI-powered contract analysis with in-manas

The insurance company's CEO has a clear vision: innovative AI solutions and an overarching AI strategy should not only make the insurance company more efficient, but also more successful and forward-looking.
A key project within this strategy is the introduction of an AI-based platform for policy analysis, which has been implemented together with technology partner in-manas. The aim is to modernise the database, automate processes and significantly speed up customer service.

The focus is on the introduction of a solution based on the Central Intelligence Unit (CIU), which is designed to automatically capture, structure and utilise contract content.

Download use case now

If you would like to know how we overcame the challenges and found the optimal solution for the company, enter your email in this form to receive the full use case.

Thanks, here is your document
Download file
Oops! Something went wrong while submitting the form.