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Title
EXL Transforms Insurance Underwriting with Generative AI Assistant Built on Amazon Bedrock
…ormation with expert guidance and packaged solutions AWS Solutions Case Studies EXL Transforms Insurance Underwriting with Generative AI Assistant Built on Amazon Bedrock Learn how EXL helped insurers reduce the cost of underwriting by 80 percent wit…
Company
EXL
…, which has helped EXL drive growth and deliver greater value to its customers. About EXL EXL is a global data and AI company that offers services and solutions to reinv…
Description
EXL, a global data analytics and digital solutions company, built LDS Underwriting Assist, a retrieval-augmented generation chatbot integrated into its Life Digital Suite (LDS) platform to help insurers streamline the underwriting assessment and review stages that previously required underwriters to manually review hundreds of pages of documents. The service uses Anthropic Claude 3 Sonnet on Amazon Bedrock with Amazon Kendra as the chatbot interface, Amazon Textract to extract data from scanned documents, and Amazon Comprehend to analyze text and redact PII and protected health information for compliance with regulations such as India's PII guidelines. EXL tested multiple foundation models (Mistral AI, Claude 2, Sonnet 3, Amazon Titan) to minimize hallucinations before launching the service in August 2024, just 60 days after starting development. EXL reports the solution reduces underwriting processing time from several days to a few hours and has the potential to cut underwriting costs by up to 80%.
…alls, “which helped us move efficiently through the development process.” Next, EXL developed LDS ™ Underwriting Assist, a retrieval-augmented generation chatbot that helps insurers streamline assessment and review stages. Integrated into the LDS ™ platform suite, the service uses Anthropic Claude 3 S…
Problem
Underwriters were still spending days reviewing hundreds of pages of documents as part of the initial assessment and review stages. EXL was aware that generative AI hallucinations could impact the reliability of results, and it was critical to maintain the confidentiality and integrity of all data, including sensitive healthcare information.
…ed manual. Kamal Deep Singh, senior assistant vice president of EXL, explains, “Underwriters were still spending days reviewing hundreds of pages of documents as part of the initial assessment and review stages.” EXL sought to reduce the workload on underwriters by using generative AI to pr…
Implementation approach
EXL tested multiple foundation models (Mistral AI, Claude 2, Sonnet 3, Amazon Titan) to minimize hallucinations before launching the service in August 2024, just 60 days after starting development. To simplify deployments for customers, EXL built a custom API layer with FastAPI and containerization.
…asier for us to comply with regulations such as PII here in India,” says Singh. The EXL digital team experimented with various LLMs and foundational models, including Mistral AI, Claude 2, Sonnet 3, and Amazon Titan . Working closely with Amazon solutions architects and other…
Business value
Several existing LDS customers onboarded the assistant service in the first couple of months after it went live, and the growing adoption has also driven an increase in the number of deals signed with customers.
…ncy of insurance underwriting while lowering the associated costs,” says Singh. Several existing LDS ™ customers onboarded the assistant service in the first couple of months after it went live. Ajmal Malik, product manager of LDS ™ at EXL, adds, “We’re excited to work with…
Industry
Financial Services
…s and accelerate the development of innovative renewable energy business models Financial Services Develop innovative and secure solutions across banking, capital markets, insurance, and payments Games Enable game development for every genre and platform, from AAA titles to…
Technology
Amazon Bedrock, Anthropic Claude 3 Sonnet, Amazon Kendra, Amazon Textract, Amazon Comprehend
…tically lowering the associated costs. Ajmal Malik Product Manager of LDS™, EXL AWS Services Used Amazon Bedrock Amazon Bedrock is a comprehensive, secure, and flexible service for building ge…
Business functions
Finance & Accounting
…ed manual. Kamal Deep Singh, senior assistant vice president of EXL, explains, “Underwriters were still spending days reviewing hundreds of pages of documents as part of the initial assessment and review stages.” EXL sought to reduce the…
AI capabilities
Generative AI, Conversational AI, Document Intelligence
…hrough the development process.” Next, EXL developed LDS ™ Underwriting Assist, a retrieval-augmented generation chatbot that helps insurers streamline assessment and review stages. Integrated into the LDS ™ platform suite, the service uses Anthropic Claude 3…
Deployment options
cloud
…EXL’s new platform is not only reliable and scalable, but also cost-efficient— the company pays for Amazon Bedrock and other AWS services only when customers use the chatbot solution. Plus, by building on AWS, EXL eliminates the need to manage underlying infrast…
