AI-Powered Insurance Policy
Case Study
Newcleus - AI-powered platform for insurance data extraction and financial analysis.
We partnered with Newcleus, a U.S.-based financial strategy firm, to develop an AI-driven solution for extracting and analyzing insurance policy data from PDFs. The platform automates data extraction, validation, and financial analysis, enabling faster, more accurate decision-making and reducing manual effort for insurance advisors.
The Vision
To design and deliver an automated AI-driven solution that extracts detailed insurance policy data from PDF documents, structures the data for analysis, and performs comprehensive financial comparisons to support business decisions on insurance carrier switching.
Scenario
Transforming Policy Review through Intelligent Automation
at Newcleus
Newcleus aimed to modernize the way insurance policy data is extracted and evaluated. Historically, this process involved extensive manual data entry from complex PDFs and required labor-intensive comparisons to assess whether a policy should be maintained, surrendered, or switched. The envisioned solution needed to automate data extraction, validate it against existing records, perform financial calculations, and generate reports-all with a high degree of accuracy and efficiency.
What we did
We developed a comprehensive, AI-powered tool that automated the end-to-end process of insurance policy evaluation:
Automated Document Parsing: Built an AI engine to extract structured data fields (e.g., Insured Name, DOB, Policy Number, Premiums) from unstructured PDF documents and convert them into JSON format.
Data Validation: Integrated comparison logic to verify extracted fields against manually maintained Excel records for accuracy.
Financial Modeling: Leveraged Databricks to perform in-depth financial analyses including surrender value calculations, premium evaluations, payout assessments, and tax implication modeling.
Insightful Reporting: Automatically generated professional-grade presentations (PPTs) summarizing policy analytics and recommending strategic actions.
Key features of the experience
The Impact
Driving Results with Newcleus: Real Impact, Real Innovation cultural legacy
Increased Accuracy
Minimized human error by automating complex data extraction and validation processes.
Cost Savings
Lowered labor costs and reduced risk exposure due to incorrect policy data handling.
Scalable Architecture
Designed to handle increasing document volume and policy complexity with consistent performance.