Indico Data releases industry-first large language model benchmark for document understanding tasks
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  Everest Group IDP
             PEAK Matrix® 2022  
Indico Named as Major Contender and Star Performer in Everest Group's PEAK Matrix® for Intelligent Document Processing (IDP)
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Driving efficiency by automating the data intake process across the enterprise

Speed or accuracy when it comes to data intake? With Indico Data, you don’t have to choose. Confidently and quickly automate unstructured document intake with GenAI and LLM to accelerate your workflows.

As Chubb CEO Evan Greenberg mentioned in a recent Insurance Business article, Chubb has already been experimenting with AI across a variety of use cases across the business. Chubb has consistently been the leading insurer across multiple lines, and has also seen strong underwriting activities in recent quarters. 

Indico’s Intelligent Intake platform can support Chubb’s digital transformation initiative while continuing to drive GWP and lower the combined ratio. By automating data intake, Chubb will be enabled to drive underwriting efficiency to reduce quote-to-bind times, accelerate decision processes, and more by being able to quickly intake data from highly unstructured documents. 

By harnessing the latest Generative AI and LLM technology – all built into a safe, secure, and scalable platform, Chubb can unlock new insights at massive scale and speed. Indico’s LLM technology and architecture allows for 

  • Highest accuracy when it comes to document understanding to drive decisioning
  • Fastest time to value to enable SME to create custom ML models with as little as 200 sample documents
  • Strongest ROI – allowing non-technical users to create custom models with the “bionic-arm” approach to stay in the loop of the process that they are automating.

Automating data intake workflows enhance Chubb’s capabilities in several key areas – allowing  for more selective triaging of submissions, better detection of claims fraud, quicker decision-making, and improved customer experience. This technology provides Chubb a competitive edge by fostering faster, data-driven decisions; improving risk management, and enabling a customer-centric approach to their digital transformation journey.

Joe Emde

Regional Sales Director, Indico Data

If you’d like to further explore what a partnership with Indico would look like, feel free to book a meeting with me.

I look forward to hearing from you. Thanks!

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Benefits of intelligent intake for insurance claims and underwriting processes:

Expand capacity up to 70%

Increase process capacity and revenue – without adding headcount

Reduce process cycles times up to 85%

Reduce process cycles times up to 85%

Increase customer satisfaction

Faster claims processing and underwriting decisions keep customers happy

Everest Group IDP PEAK Matrix® 2023

Indico Data was named a Leader in both the overall IDP market assessment as well as the IDP for unstructured data market assessment. We demonstrate the ‘strongest year-over-year movement’ of any provider evaluated in the 2023 PEAK Matrix® Assessment, highlighting our significant progress and continued innovation in market impact, vision and capabilities.

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