CASE STUDY


F50 Insurance company achieves 300% return on investment with Indico Data

This organization is a leading innovator and leader in protection planning and retirement and savings solutions worldwide. Their subsidiaries offer life, accident, health insurance, retirement, and savings products through agents, third-party distributors such as banks and brokers, and direct marketing channels. This Fortune 50 insurance company serves more than 90 of the top 100 FORTUNE 500® companies in the United States.

Our CoE is in the business of scaling – it's not enough for us to have a point solution to a single or small number of use cases…we want to continue expanding our automation scope. To that end, we need a solution that covers the broadest number of problems in the organization.

-VP of Strategy and Planning

100M

in projected savings

86%

reduced time on tasks

Problem

They began their automation journey to digitize valuable content accumulated over decades. Starting with RPA, they digitized structured data but quickly hit a roadblock. "While we had captured major efficiencies with our RPA programs, we were seeing a graveyard of use cases involving unstructured data that we couldn't touch."

Solution

They chose Indico's platform, allowing the reading and understanding of unstructured content. They appreciated that employees could use the platform to build models with a point and click low-code application interface. So, their CoE could focus on finding automation opportunities.

Results

Their team identified 134,000 documents containing valuable information for risk modeling. Based on a training set of 200 samples, the model classified all the attributes needed in just a few days. They saved 5,400 hours with the Indico platform and expect to save $100 million over the next few years. They plan to use the Indico platform to expand their use cases across multiple business lines.

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