American Family Insurance spin-out Arturo innovates proptech
’s solution utilises artificial intelligence (AI) and predictive analytics to gather property insights from aerial photographs, including those taken from satellites, drones, and atmospheric balloons.
The ‘’ or value proposition is based around accuracy, speed, and cost-efficiency. Inspections can be carried out in as little as five seconds and the frequency required for quality is significantly reduced. Other key differentiators include:
- Multi-source imagery
- Constantly refreshed and updated information
- On-demand property analytics
- Deep learning data models
Bolstering insurance with tech
Using its newly acquired capital, Arturo plans to expand and develop its technology portfolio, establish new partnerships in the European and APAC markets, and grow its client base.
The company’s distinctly digital approach to property insurance matches the to move away from legacy work methods. As such, it has recently found favour among the top five P&C providers in the US and Australian markets. For Sunir Kapoor, Operating Partner at Atlantic Bridge, Arturo’s recent growth is encouraging:
“Over the past twelve months, Arturo increased its revenue by more than 300%, which speaks directly to the tangible value it offers to leading insurers.
“With the success that JC [John-Isaac Clark, CEO of Arturo] and his team have had onboarding several new clients fully remotely over the past year, we’re confident in Arturo’s continued expansion in bringing AI to the insurance industry and beyond.”
AI continues to gain traction
The consensus among insurers is that traditional insurance risks falling into obsolescence as tech companies and ecosystems meet customer needs with cheaper and more customer-centric solutions.
Arturo’s highly innovative approach to property insurance is placing it firmly at the vanguard of the industry’s new paradigm, and Clark is adamant that it should remain so.
“Arturo’s vision is to revolutionise the way businesses interact with properties by providing greater transparency into a building’s physical make-up, and we believe we’re only scratching the surface in terms of the level of value we can bring to our customers,” he said.
SLK Software: Optimising performance in the digital economy
Established in 2000 in Bengaluru, India, SLK Software recognises that fast-paced digital transformation is creating an unprecedentedly fertile period of opportunity for global businesses.
As such, with a firm belief in the power of simplification and automation to yield new and exciting experiences, the company has been challenging the status quo for over 20 years through an approach that is:
- Relationship oriented
- Strategically focused on a desired outcome
- Reliant on automation tech
Believing in purposeful automation
SLK’s specialisation in automation tech is full spectrum: artificial intelligence (AI) and machine learning (ML), Computer Vision, Natural Language Processing (NLP), Robotic Process Automation (RPA), and more, are all part of its core competencies.
Citing 90% productivity improvements, 30% business growth through better customer experiences, and up to 20x faster go-to-market capabilities, the reasons for its focus are clear.
The company currently serves the banking, financial services, insurance, retirement services, M&A, manufacturing, and supply chain sectors. Solutions offered include:
- Intelligent Business Transformation
- Agile IT Automation
Accelerating workflow processes
The latter is a tool specifically calibrated to enable business users an easy method for capturing document processes. This can occur across any application, with these individual tasks then seamlessly combined for both improved compliance and governance.
Carol Castelloni, VP of Transformation at CNA Insurance, highlighted this as providing critical support in helping the company meet its business objectives:
“SLK’s Avo Discover tool accelerates how we can document workflow processes, measure impacts on enhancements, and identifies future automation opportunities.” Liberated from having to focus on these process-driven aspects of business, CNA Insurance has been able to refocus its attention on creative problem-solving instead.
Ultimately, this is the most important benefit that SLK brings: it optimises the back end so that clients can channel their energy towards what matters the most, customers.
Read more about SLK Software and CNA Insurance in the June 2021 edition of FinTech Magazine.
Pictured: SLK Software team (source)