Loadsure, a global Insurtech firm based in London, has built a solution to expedite the claims processing using Google Cloud’s generative AI and Document AI. This automated process has made a significant difference to their business, resulting in faster processing times, increased accuracy, and improved customer satisfaction. Traditionally, insurance claims processing has been a labor-intensive and time-consuming process, often involving manual verification of documents and data entry. This can lead to delays in claim settlements and a frustrating experience for policyholders. Loadsure recognized the need to address these challenges and sought a solution that would enable them to process claims more efficiently and accurately. By leveraging Google Cloud's Document AI, Loadsure was able to automate the extraction of relevant data from various claim documents, such as bills of lading, invoices, and shipping documents. This has significantly reduced processing times, enabling them to settle claims faster, providing policyholders with quicker access to funds and improving their overall experience. In addition, Loadsure has minimized the risk of human error, leading to greater accuracy in claims processing. This ensures that policyholders receive the correct settlement amounts and reduces the potential for disputes. The Loadsure and Google Cloud team are now exploring how to bring this and other generative AI technology to other insurance flows, such as underwriting and pricing.