About Customer
bolttech is an international Insurtech with a mission to build the world’s
leading, technology-enabled ecosystem for protection and insurance. bolttech
serves customers in more than 35+ markets across North America, Asia,
Europe, and Africa.
With a full suite of digital and data-driven capabilities, bolttech powers
connections between insurers, distributors, and customers to make it easier
and more efficient to buy and sell insurance and protection products.
The Challenge
As the digital age continues to evolve, companies are challenged with providing resilient & scalable solutions for better customer experience. bolttech, a leading insurance technology provider, proactively saw an opportunity to further improve their Service Request(s) review process which required intensive manual steps and up to 2 hours per service request, resulting in a slow and costly process.
Automation Challenges
Accurate Decisions | Automation can lead to wrong decisions
Benevolence | An AI model must not defer a valid request
Compliance | AI models must be fair and comply with regulation
Scalability | A/B Testing will allocate A or B to users without considering individual
Speed | Exception handling can take time and increase claim settlement timeThe Solution
bolttech needed a solution that could automate their service request approval process, reduce human interaction, and enhance their customer experience. They turned to an automation model powered by Vertex AI and hosted on Google Cloud Platform (GCP).
bolttech led the design thought process and collaborated with Blazeclan to align the right engineering skillset to set up GCP infrastructure that includes GCP services like Compute engine, Vertex AI, storage, networking etc. to set up automation AI model.
The results were remarkable. The automation model accepted requests that progressed automatically, while operators reviewed deferred requests. By implementing this solution, bolttech saved costs and expedited the process for their customer’s service journey. The automation model achieved proven performance and demonstrated the effectiveness of the solution and the positive impact it had on the process to enhance customer experience.
Key Highlights
- Deep Learning algorithm continuously retrained and constantly monitored
- An operator checks any rejection from the system
- Personal data is automatically masked before going through the decision process​
- The status of a service is determined in less than 1 second
- The platform can serve multiple countries or be easily redeployed in a specific location
Business Benefits
With the solution implemented, the company can –
Save cost by reducing human interaction
Enhance customer experience by expediting the process
