XBP Global Inks $24M Deal to Revolutionize Insurance Payments with AI

IRVING, TX – December 29, 2025 – In a significant move signaling the insurance industry's accelerating shift toward digital transformation, workflow automation leader XBP Global Holdings, Inc. has announced a landmark partnership with a major U.S. property and casualty (P&C) insurer. The multi-year engagement, valued at approximately $24 million over a five-year term, is set to completely overhaul the insurer's payment processing infrastructure through the deployment of advanced artificial intelligence and automation technologies.

The strategic collaboration will see XBP Global, a NASDAQ-listed company known for its expertise in business process automation, implement a suite of its proprietary solutions to create a modern, efficient, and customer-centric payments ecosystem. This initiative reflects a growing trend within the traditionally paper-intensive insurance sector to adopt cutting-edge technology to enhance operational efficiency, reduce costs, and meet the rising expectations of today's digitally-native consumers.

The Core of the Transformation: AI and Automation

At the heart of this partnership lies XBP Global’s hyper-automation platform, a sophisticated framework that integrates agentic AI with Robotic Process Automation (RPA) to digitize and streamline payment operations from end to end. The solution is specifically tailored for the complex workflows inherent in P&C insurance processing, which often involve a high volume of transactions, diverse document types, and stringent regulatory requirements.

A key pillar of the transformation is the implementation of XBP's Intelligent Document Processing (IDP) technology. This AI-powered tool is designed to automatically ingest, classify, and extract critical data from a wide array of payment-related documents, such as checks, remittance advice, and correspondence. By automating the capture and validation of this information, the insurer aims to drastically reduce its reliance on manual data entry—a process that is not only time-consuming and costly but also prone to human error. This automation is expected to significantly accelerate payment reconciliation cycles and improve data accuracy across the board.

Furthermore, the engagement will leverage RPA to handle repetitive, rules-based tasks within the payment workflow. These software "bots" can perform functions like data validation, system entries, and report generation around the clock, freeing up human employees to focus on more complex, value-added activities such as customer service and strategic analysis. The synergy between AI's cognitive capabilities and RPA's process efficiency is designed to create a seamless, highly automated operational environment.

Modernizing the Customer and Back-Office Experience

This technological overhaul is not just about back-office efficiency; it is equally focused on delivering a superior experience for policyholders. A cornerstone of the new framework is the deployment of XBP’s Mobile Payment solution. This will empower the insurer’s customers to make secure, seamless, and compliant payments directly from their mobile devices. In an era where consumers expect on-demand services, providing a convenient and intuitive mobile transaction channel is critical for customer satisfaction and retention. The solution is built to enhance both the speed and convenience of making payments, aligning the insurer with modern consumer behavior.

Internally, the benefits are projected to be just as profound. XBP will implement its specialized Exception Platform, an intelligent system designed to proactively identify and manage deviations from standard payment workflows. Instead of exceptions causing bottlenecks and requiring manual investigation, the platform will automatically flag issues, gather relevant data, and route them to the appropriate personnel for swift resolution. This targeted approach ensures that problems are addressed faster, improving overall processing accuracy and minimizing delays in the remittance and payment lifecycle.

Another crucial component of the initiative is the digitization of paper-based correspondence. The partnership will convert vast amounts of physical mail into secure, searchable digital formats. This move promises to boost operational efficiency by eliminating the burdens of manual paper handling, storage, and retrieval. It also strengthens the insurer's compliance posture by creating a clear, auditable digital trail of all communications and reducing the risk associated with managing sensitive physical documents.

A Strategic Move in a Shifting Industry

The $24 million deal is more than just a technology upgrade; it represents a strategic investment in future-readiness. The P&C insurance industry is at a critical inflection point, facing pressure from agile insurtech startups and changing customer demands. Legacy systems and paper-based processes are increasingly seen as liabilities that hinder growth, innovation, and competitiveness. Insurers that fail to modernize risk falling behind in service quality, operational agility, and cost management.

This partnership exemplifies the proactive approach leading insurers are taking to build a resilient and scalable operational foundation. By blending AI, RPA, and mobile-first innovation, XBP Global is creating a payments framework that can not only handle current transaction volumes but also scale to accommodate future growth and adapt to evolving client expectations. The new ecosystem is designed to be flexible, allowing for the integration of future technologies and services as they emerge.

Lakshmi Narayanan, President – Bills and Payments, XBP Americas, commented on the broader industry implications in the official announcement. “We are proud to partner with a leading insurer to reimagine payment operations through our AI-driven, hyper-automation enabled ecosystem,” he stated. “This engagement highlights the growing demand for intelligent, mobile-enabled payment solutions that deliver efficiency, accuracy, and an improved customer experience at scale.” His comments underscore the market-wide recognition that intelligent automation is no longer a luxury but a necessity for survival and success in the modern financial services landscape. The collaboration is poised to serve as a powerful case study for how established insurers can successfully navigate their digital transformation journey, ultimately enhancing their value proposition for customers and stakeholders alike.

This comprehensive modernization effort will touch nearly every aspect of the insurer's payment operations, from initial customer interaction to final back-end reconciliation. By embracing a secure, mobile-enabled, and automation-led approach, the insurance provider is not only streamlining its current processes but also strategically positioning itself for sustained growth and leadership in a rapidly evolving market. The five-year term of the agreement ensures a long-term commitment to continuous improvement and innovation, promising lasting benefits for the insurer and its policyholders.