UCONNIC-Insurance
- Category: UCONNIC-Insurance
- Client: Academic UConn
- Project date: Spring 2022
- Project URL: Project Link
Currently, the process of extracting information from emails and their attachments is time-consuming, labor-intensive, and prone to human errors, resulting in significant operational costs. This project seeks to address this issue by implementing an AI-driven solution. The primary objective is to streamline this process and reduce the labor-intensive work by 40%, resulting in annual savings of $240,000. This will be achieved by automating the interpretation of emails and attachments, significantly decreasing human intervention and potential errors. The initiative, with a discounted payback period of 1.37 years, will not only lead to substantial cost savings but also enhance efficiency and accuracy in data extraction, ultimately optimizing underwriting processes and improving overall business performance.