Redefining the ‘Brokerage of the Future’
Persistent is proud to partner with one of the fastest-growing insurance brokers in the U.S., to pioneer a GenAI-powered transformation. This collaboration, recognized by Reetika Fleming, Executive Research Leader at HFS Research, serves as a blueprint for leveraging artificial intelligence to tackle industry challenges and unlock new opportunities.
The Challenge: Fragmented Systems and Complexity
Despite rapid growth, the brokerage firm faced operational challenges due to:
- Fragmented Systems: Disparate workflows across carriers.
- Complex Documents: Varied formats and terminologies from multiple insurance providers.
- Limitations of Traditional Tools: Existing automation solutions struggled to scale and adapt to the client’s evolving needs.
The Solution: Persistent’s GenAI-Powered Platform
Leveraging our deep expertise in Generative AI and BFSI innovation, we delivered a tailored solution that:
- Automates Document Processing in Real Time: Reduces manual effort by classifying and extracting information seamlessly.
- Adapts Dynamically: Features model-agnostic capabilities to accommodate evolving AI requirements.
- Ensures Compliance: Embeds transparency and regulatory adherence into every workflow.
The Outcome: Setting New Industry Benchmarks
The collaboration delivered measurable results that revolutionized the client’s operations:
- Operational Efficiency: Streamlined processes improved speed and accuracy across insurance workflows.
- Faster Revenue Realization: Accelerated processing times for insurance policies enabled quicker client onboarding and service delivery.
- Enhanced Broker-Client Experience: AI-driven insights empowered brokers to make better decisions, enhancing client satisfaction.
This transformation is a guiding example for the insurance sector, showcasing how GenAI can redefine operational excellence.
Persistent’s innovative work with the client has been featured in HFS Research’s latest report, “Building the Brokerage of the Future.” This acknowledgment underscores our commitment to pushing the boundaries of digital engineering in BFSI.
