United StatesFinance and insurance2024 – ongoingArbor Realty Trust
AI extraction of data from insurance certificates for loan files
Arbor Realty Trust cut insurance certificate processing from 20 minutes to 30 seconds with Docsumo
Problem
Arbor Realty Trust, a multifamily and commercial real estate lender, had to read insurance documents attached to its loans. Staff processed each certificate by hand, which took time and slowed loan servicing.
Approach
Arbor partnered with Docsumo, a document AI vendor, to pull data automatically from certificates of insurance. Docsumo announced the partnership in December 2024. The release gave no rollout details or dates for the start of use.
Results
Takeaway
The only time figure comes from the vendor's own release, and it covers one document type. Arbor's own measurement was not published.
Categories
- Industry
- Finance and insurance
- Business function
- Production and quality
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and ML
- Adoption
- Vendor solution
- Evidence
- Vendor case study
Sources
Source summaries
Docsumo's press release says Arbor Realty Trust partnered with it to improve insurance document processing. It reports that certificate of insurance processing fell from 20 minutes to 30 seconds and that Arbor can process more than 25,000 pages. It gives no accuracy percentage.
Full details are in the original sources.