Fast facts
Business: Felix
Industry: Vendor management and procurement technology
Challenge: Manual data entry of complex insurance documents
Solution: Custom AI Document Processing Platform
Results:
- 76% reduction in manual datainput
- 30%+ reduction in compliance dataerrors
- 85,000+ compliance documents processed annually
- Integrated straight through processing for seamless onboarding
The challenges
Felix is a leading vendor management and procurement platform, supporting over 6,000 users across industries like construction, mining, and government. It helps organisations manage more than 60,000enterprise vendors worldwide, including big names like CPB Contractors, Laing O’Rourke Australia and Fulton Hogan.
For each new vendor onboarding with Felix, insurance documents must be uploaded and verified to ensure compliance. These documents vary widely in format, length and content, with many containing multiple insurance policies in a single file. A single document might cover both motor vehicle and public liability insurance, with distinct policy numbers, brokers, coverage amounts and expiry dates.
Previously, Felix required vendors to manually enter all insurance policy details into its web application – a tedious process that frequently led to errors, delays and a poor onboarding experience.
The process became increasingly inefficient and error-prone, prompting Felix to seek a more intelligent way to manage insurance document data at scale.
“We set out with an initial aim to cut down on document handling associated with the onboarding process for our vendors and improve submission accuracy for our contractor customers.”
Steve O’Keeffe, Chief Technology Officer at Felix
The Affinda solution
Felix partnered with Affinda to develop a custom AI-powered document processing platform capable of accurately interpreting and extracting key data from complex insurance policies. Initially, Felix expected this to be a large, complex process, but the team at Affinda worked with them to break it down, explain the ROI and simplify the project to ensure it made sense for Felix to proceed.
“Affinda worked with Felix to deeply understand our product positioning and market opportunities. They provided technical expertise during execution as part of the overall project to develop a custom AI-driven solution.”
Steve O’Keeffe, Chief Technology Officer at Felix
The tailored solution included:
- Custom AI data extraction model
Built to handle the nuance and complexity of insurance documents, the model links policy elements (e.g. insurer name, ABN, policy number) with features (e.g. coverage amount, type, number of workers) to ensure correct field associations. - Seamless integration
Affinda’s platform was embedded directly into Felix’s web app. When vendors upload their insurance documents, the system instantly processes them and pre-populates the required fields with extracted data. - Straight through processing (STP)
With minimal manual input required, Felix’s platform now enables STP, significantly reducing human error and eliminating unnecessary vendor follow-ups.
The result? A highly efficient, low-friction onboarding process that simplifies compliance for vendors and reduces back-and-forth for Felix's customers.
The outcome
With Affinda’s technology integrated, Felix now processes more than 85,000 compliance documents a year with impressive accuracy and speed.
Key results include:
- 76% reduction in time spent on manual data entry
- 30%+ decrease in compliance data errors
- Dramatically improved vendor experience with faster onboarding
- Reduced friction for clients, with fewer interventions required
“The results have spoken for themselves. We look forward to future work with Affinda as we mature in the AI space. I recommend them to anyone looking to enhance their product or business with AI capability.”
Steve O’Keeffe, Chief Technology Officer at Felix
By reducing administrative burden and increasing accuracy, Felix has strengthened vendor relationships, enhanced its reputation and demonstrated its commitment to continuous innovation.
Ready to see how Affinda’s AI-powered document processing products can help your business? Chat with one of our experts today.