SLK Software, a global technology services firm, and AI company V-Labs, have partnered with CNA Insurance, a US-based insurance provider, to deploy an enterprise-wide AI-led intelligent automation solution.
SLK Software is a global technology services provider focused on bringing AI, intelligent automation, and analytics together to create technology solutions for its customers.
V-Labs is a passionate team of scientists, engineers and entrepreneurs with deep expertise in Computer Vison, Natural Language Processing, Signal Processing and Sensor-based AI Platforms and Solutions.
As insurance companies accelerate their adoption of next generation technologies around AI and machine learning, the challenge of rapid intake and processing of structured and unstructured data and documents has taken centre stage.
The AI-based automation technology has reduced the average processing time in targeted areas from several hours or days to a few minutes. Applicable across the insurance value chain, this AI-led solution will create value to all players in the insurance industry — customers, brokers, insurers, reinsurers, and claims processors.
Jane Possell, chief information officer, CNA said, “CNA embarked on several initiatives to help take important steps towards AI-augmented underwriting, endorsement, and claim processing,” said. “In collaboration with SLK and V-Labs, CNA plans to accelerate its adoption of AI technologies to help transform the intake and other business processes across our enterprise.”
Ajay Kumar, chief executive officer, SLK Software, added, “Both SLK and CNA are committed to driving high-levels of data accuracy, acceleration towards business closure, providing deeper insights to increase revenue, and rapidly scaling AI across the enterprise. At SLK, we challenge the status quo with our unique and differentiated solutions and IPs, bringing together our expertise in automation, analytics and AI that provide unparalleled value to our customers.”
COVU, an AI-enabled digital platform for insurance agencies, earlier this month reported that generative artificial intelligence (AI) tools, such as ChatGPT, will play a significant role in the digital transformation of the insurance industry.