SLK Software and V-Labs join with CNA to Deploy AI Technologies for Intelligent Automation of Insurance Business Processes
The companies commit to achieving high-level performance, efficiency, and turnaround time
Cincinnati, Ohio (U.S.) Jan. 30,2023 SLK Software, a global technology services firm, and V-Labs, an AI company, aligned with CNA Insurance, a leading U.S.-based insurance provider, to deploy an enterprise-wide AI-led intelligent automation solution to accelerate and transform CNA’s intake automation for new business submissions, claims, and other critical business processes.
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 center stage.
“CNA embarked on several initiatives to help take important steps towards AI-augmented underwriting, endorsement, and claim processing,” said Jane Possell, Chief Information Officer, CNA. “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.”
“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,” said Ajay Kumar, Chief Executive Officer, SLK Software.
“We are delighted to work with CNA on their business transformation journey. V-Labs has built AI-products that are beginning to transform traditional business processes and legacy systems, by leveraging fundamental AI/ML technologies, including NLP and Computer Vision. The rapid acceleration in real-time data extraction and contextualization will lead to high levels of business process automation, real-time decision-making systems, market insights, and new product creation. This is enabling true business transformation across many industries,” said Dr. Murali Kota, Founder and CEO of V-Labs.
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 cutting-edge solution will create value to all players in the insurance industry — customers, brokers, insurers, reinsurers, and claims processors.
About SLK Software:
SLK Software is a global technology services provider focused on bringing AI, intelligent automation, and analytics together to create leading-edge technology solutions for our customers through a culture of partnership with them, led by an evolutionary mindset. For over 20 years, we’ve helped organizations across diverse industries — insurance providers, financial service organizations, investment management companies, and manufacturers — reimagine their business and solve their present and future needs. Certified as a Great Place To Work®, we encourage an approach of constructively challenging the status quo in all that we do to enable peak business performance for our customers and for ourselves, through disruptive technologies, applied innovation, and purposeful automation. Find out how we help leading organizations reimagine their business at slksoftware.com
About V-Labs 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. V-Labs is committed to reimagining businesses with the power of responsible AI and building the future of Intelligent Automation. V-Labs has many success stories leveraging Video/Image Processing, Contextual Analysis with NLP and Sensor-Physics based AI Automation. For more information, please visit V-Labs at www.v-labs.ai
