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Global Investment & Insurance Provider Uses AI to Help 62M Clients

October 5 2023

For more than 150 years, this global investment management company has provided financial products and services to businesses, individuals and institutional clients. They’re dedicated to improving the wealth and well-being of people and businesses around the world—helping more than 62M customers plan, protect, invest, and retire.

The Problem

This Global Investment & Insurance Provider was struggling with inefficient, error-prone document processing. Inaccurate data extraction from handwritten and complex document formats created bottlenecks, and relying on manual entry for forms with many fields was time-consuming. They needed to improve accuracy and automation to speed up processing.

The Solution

To solve these challenges, the firm implemented Hyperscience for AI-powered document classification and data extraction. Hyperscience is used to process claims, IRA rollovers, electronic check deposits, and more. The automated data feeds downstream systems for further processing.

The Results

By adopting Hyperscience, the company significantly reduced the need for manual data entry across use cases, accelerating document turnaround times. The platform delivered high accuracy even when extracting handwritten input from complex forms.

Additionally, multiple high-volume departments at the organization rapidly saw productivity gains from Hyperscience, spurring plans to onboard more document types. Though specific ROI metrics are internal, positive ROI is attributed to workload reduction across adopted departments. Given these benefits, the firm plans to continue expanding Hyperscience to more of their document processing needs.

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