How GenAI Transformed Quote Processing for a Top Insurance Broker

Client

A Global Insurance Leader at the Top of Its Game

Our client is one of the world’s top three insurance broking firms, helping global corporations secure tailored coverage from multiple insurers. Every day, their brokers juggle countless quote documents—each with its own form, format, terminology, and template.

In this fast-paced world, speed and precision are non-negotiable. But the quote extraction process wasn’t keeping up.

Challenge

Data Complexity Was Slowing Brokers Down

Brokers spent hours digging through quotes from different insurers, all formatted differently. No two documents looked alike. Some were templated, many weren’t. And almost all had complex calculations and numbers embedded in the text and spread across the document that traditional tools just couldn’t read and decipher.

The problems piled up:

• Manual extraction = slow response times
• Error-prone processes = rework and risk
• Limited accuracy = poor comparisons
• Manual drawing of risk coverage = tremendous time and effort wastage in addition to inaccuracies
• Less time with clients = missed opportunities

The existing AI-based tools could only deliver around 60% accuracy, hardly reliable for a business where precision is everything.

Solution

A GenAI Engine Built to Think Like a Broker

Hexaware introduced a purpose-built, GenAI-powered data extraction engine—designed not just for insurance quote processing automation, but to elevate it.

Here’s what made it stand out:

• Universal input handling: Processed any quote—structured, unstructured, or in unpredictable and untemplated formats
• Configurable extraction: Pulled exactly the data brokers care about—nothing more, nothing less
• Human-in-the-loop validation (HITL): Enabled brokers to review and approve outputs, training the AI in insurance brokerage along the way
• Continuous learning: Improved the engine with every quote through HITL
• Visualized quote comparisons: Gave brokers side-by-side comparisons and highlighted coverage gaps through downstream systems
• Visualized coverage completeness: Enabled brokers with a fully automated visualization of the risk coverage, saving significant time and effort while ensuring high accuracy

It wasn’t just smarter insurance technology. It was smarter brokering.

Benefits

Making Brokers Smarter, Faster, and Future-Ready

The digital transformation in insurance was as fast as it was measurable:

• 98% accuracy in quote data extraction
• 50% increase in broker productivity and TAT
• Significant drop in processing errors and manual effort
• Real-time summaries for quick, confident decision-making
• Automated quote comparisons and visual risk analysis

Instead of wrestling with data, brokers were now focused on what they do best—serving clients.

Summary

Redefining Broker Productivity with GenAI

With Hexaware’s GenAI capabilities, the client didn’t just fix a process—they redefined what brokerage excellence looks like in a digital age.

Manual quote extraction was slowing brokers down. Hexaware’s GenAI-powered engine changed the game—accurately parsing even the most complex quotes, automating comparisons, and giving brokers their time back. The result? 98% accuracy, 50% productivity lift, and faster, sharper client service.

Ready to reimagine your broker workflows with GenAI? Visit our Insurance IT Services and Solutions page,  and reach out to one of our insurance experts to explore how Hexaware can help you streamline broker workflows. Contact us today!