The Challenge: Navigating Complexity in a High-Stakes Industry
In the fast-paced world of marine insurance, speed and accuracy are critical. The insurer faced mounting pressure from:
- Slow response times to frequently asked questions, causing underwriting delays.
- Inconsistent claims handling, driven by varying levels of employee expertise.
- Inefficient knowledge retrieval, with staff struggling to access accurate information from a vast internal knowledge base.
These challenges not only risked client satisfaction but also exposed the organisation to potential regulatory scrutiny and lost business opportunities.
The Solution: AI-Powered Knowledge Discovery at Scale
To address these issues, the company partnered with Advancing Analytics to implement an AI-powered knowledge assistant for its Claims and Loss Prevention teams. The solution leveraged Generative AI (Gen AI) powered by a Large Language Model (LLM) enhanced with Retrieval-Augmented Generation (RAG) to deliver accurate, contextually relevant answers to employees’ queries.
Key Features:
- Semantic Search & Natural Language Understanding: Enables employees to ask questions in plain English and receive precise, relevant responses.
- Integrated Internal & External Knowledge Sources: Pulls from both internal documentation and trusted external web sources for comprehensive insights.
- Human-in-the-Loop Feedback: Staff can rate the usefulness of responses, continuously improving the system’s accuracy and reliability.
This GenAI solution empowers employees to find, understand, and apply knowledge faster than ever before—without compromising on accuracy or transparency.
The Results: From One Day to One Minute
The impact was immediate and measurable:
- Processing times reduced from up to 24 hours to under 60 seconds
- Significant boost in operational efficiency and employee productivity
- Faster, more confident decision-making across Claims and Loss Prevention teams
- Improved client satisfaction and reduced regulatory risk
By unlocking the full value of its internal knowledge base, the insurer has positioned itself as a digital pioneer in the marine insurance sector—ready to navigate the future with confidence.
