Streamlining Product Filing with Generative AI

This guide outlines the implementation of generative AI to enhance the product filing process for a global insurance company. The traditional manual method of extracting relevant details from product filings and rate files was inefficient and prone to human error, often taking several months to complete. The document details the challenges faced, including data extraction complexity and scalability issues. LTIMindtree developed a Companion Bot using Amazon Bedrock, which automates the analysis of multiple documents to generate comprehensive risk, eligibility, coverage, and pricing details. This innovation significantly reduces the time required for product filing, achieving a 50% improvement in overall document processing efficiency. Additionally, the solution enhances data accuracy by minimizing the risk of misinterpretation, leading to more reliable information for business decision-making. The guide emphasizes the adaptability of the solution to various input file combinations, ensuring scalability and robustness in processing increasing document volumes and complexities.