Apr 30, 2021

Artesian Solutions experiences record growth of 135%

AI
Data
Insurtech
businessintelligence
Joanna England
3 min
Artesian Solutions experiences record growth of 135%
The UK-based intelligence and risk solutions provider outperformed its initial fiscal goal by 135%, say executives...

A leading provider of client intelligence, Artesian Solutions, has announced a stratospheric growth rate in its 2020/21 fiscal year - hitting 135% above its projected targets.

The technology company, which serves clients including leading banking, financial service and insurance providers across all vertical sectors, was founded in 2006 and recently grew its team of specialists to expand its current operations. 

Artesian Solutions reads, aggregates and interprets data from millions of sources online, creating meaningful insights from them for B2B customers. 

The COVID-19 pandemic has resulted in a massive business for Artesian Solutions, which works with fintech and insurtech companies to provide client pre-screening for risks and opportunities, triage and credit scoring, underwriting risks, accelerated client on-boarding, screening and remediation of back-book, monitoring for early warning indicators and enhanced lead indicators.

Data analytics 

Artesian has invested over a decade creating leading technology which can read and interpret millions of sources of unstructured content published online which it can combine with factual data about companies. 

The financial services sector accounted for 91% of Artesian’s revenue during the 2020/21 period, with the company welcoming 70 new customers and delivering larger deals with longer contract terms. 

The pandemic has also meant Artesian’s service – which allows users to track their customers – also resulted in strong customer retention rates, achieving a net retention number above 110%.  

Artesian also proudly maintained EBITDA’s profitability, returning a real-terms cash-conversion ratio greater than 100%.

New technology for insurtechs

In January 2021 Artesian announced the launch of Artesian Connect. The new platform combines the latest advances in data-science with the world’s best business information to solve complex, high-value frontline execution challenges 

Artesian also announced new strategic data partnerships with Experian, D&B, Refinitiv, LexisNexis, Graydons and many others making it easy for customers to use their preferred data providers as part of the Artesian Connect framework.

Intelligence solutions

According to reports, Artesian’s Risk and Compliance Hub (ARCH) uses a sophisticated, programmable decision engine to monitor real-time credit risk and KYC data sources. It also applies a company’s own internal policies to immediately flag potential issues so they can be resolved by the front-line teams who are best placed to engage with the client.

Speaking about the recent fiscal report and the company’s growth strategy, Artesian Solution’s CEO Andrew Yates, explained, “It’s been a pivotal and transformational year for Artesian. We’ve set new benchmarks in terms of growth and profitability by addressing head-on the disruption caused by COVID-19, being in a strong position to help our customers help theirs,” he commented. 

Yates said that by harnessing the world’s largest source of intelligence in combination with the latest advances in data science, Artesian Solutions has been able to help their customers solve the most complex challenges. 

“As we move through 2021 and beyond, we will continue to help our customers create more time to spend with their clients by better anticipating needs and navigating the road ahead,” he added.

During 2020/2021, Artesian increased new business bookings by 22%, achieving a series of notable customer wins, including Connect Platform deals with Lombard, QBE Insurance, Triodos Bank, Premium Credit and Metro Bank among others. 

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Jun 11, 2021

SLK Software: Optimising performance in the digital economy

SLKSoftware
AI
Automation
CNAInsurance
2 min
Recently featured in our profile of CNA Insurance, we take a closer look at how SLK Software is powering disruption in the digital era

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:

Accelerating workflow processes

In addition to these services, SLK offers three products/platforms: Avo Assist - RPA, Avo Assure - Test Automation, and Avo Discover - Process Discovery.

 

 

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)

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