Insurance: AI-Accelerated Workflows
ICICI Lombard
Location
Mumbai, India
Team Size
Enterprise Insurance Provider
Duration
8 Months
Main Result
80% Process Acceleration
The Challenge
ICICI Lombard, one of India's largest insurance providers, was struggling with manual insurance application processing that took weeks and involved multiple disconnected systems. Policy searches, risk geocoding, and RFQ processing were time-consuming and error-prone, leading to customer dissatisfaction and operational inefficiencies. They needed a secure, enterprise-ready AI solution to accelerate their entire insurance workflow lifecycle.
The Solution
We developed a comprehensive full-stack AI platform that revolutionized ICICI Lombard's insurance operations:
Full-Stack AI Platform:
• AI-Powered Policy Search — Intelligent document processing and instant policy retrieval across millions of records
• Geocoding & Risk Analysis — Automated location-based risk assessment with real-time mapping and hazard analysis
• RFQ Processing Automation — AI agents that handle request-for-quote workflows end-to-end with smart routing
• Agentic Compliance System — Autonomous AI agents ensuring regulatory compliance and fraud detection
• Complete Application Lifecycle — From initial inquiry to policy issuance, fully automated with human oversight
• Enterprise Integration — Seamless integration with existing ERP, CRM, and data warehouse systems
• Secure & Traceable AI — All AI decisions logged and auditable for regulatory compliance
• Multi-Channel API Layer — RESTful APIs enabling integration across web, mobile, and partner systems
Results
Process Acceleration
Insurance application processing time
Compliance Accuracy
Automated risk and compliance checks
Cost Reduction
Operational and processing expenses
Customer Satisfaction
Improved customer experience scores
Key Insights
- ✓AI agents reduced manual policy processing from 14 days to 2.8 days on average
- ✓Geocoding integration improved risk assessment accuracy by 40%
- ✓Traceable AI decisions ensured full regulatory compliance and auditability
- ✓Multi-system integration eliminated data silos and improved workflow visibility
- ✓Enterprise-scale deployment handled 10,000+ concurrent insurance applications
- ✓Agentic compliance system reduced fraud detection time from hours to minutes
- ✓ROI achieved within 6 months through reduced operational costs and increased throughput
Ready to achieve similar results?
Let us show you how Nurahex can transform your business like we did for ICICI Lombard.