NAIROBI, Kenya- Peslac, a Kenya-founded startup incorporated in the United States, is redefining efficiency in document management for the insurance and financial sectors.
Since its 2023 launch, the company has leveraged artificial intelligence (AI) to automate the labor-intensive task of data extraction and organization, slashing processing times and boosting accuracy.
Peslac’s core mission is simple yet transformative: automate tedious manual processes with cutting-edge AI.
According to CEO Jibril Kala, traditional methods in insurance claims and financial document processing are not only time-consuming but also prone to inefficiencies and fraud.
“For example, analyzing a 500-page bank statement manually is daunting. With our AI platform, this task takes just 30 minutes, allowing banks to focus on actionable insights like client income streams and expenditures,” Kala explained.
In the insurance sector, Peslac’s technology accelerates the review of medical claims. By identifying straightforward cases for automatic processing, the platform leaves only complex claims requiring human intervention.
“Our tools boast an impressive 97pc accuracy rate, saving companies both time and money,” Kala noted.
Peslac offers new users a free trial covering the processing of up to 1,000 pages. Afterward, customers can choose from customized pricing plans tailored to their specific document processing needs.
Since its inception, the startup has attracted a growing list of clients, including two insurance companies, a bank, two microfinance institutions, and two fintech firms.
This impressive traction underscores the demand for AI solutions in industries that have long relied on manual workflows.
With $150,000 in equity funding and $300,000 in debt raised from Africa-focused venture capital firm 54 Collective, Peslac is well-positioned for growth. Its next frontier? Expanding to Nigeria and South Africa, key markets in the continent’s financial landscape.
“Our vision is to establish Peslac as a pan-African leader in AI-driven document processing,” Kala said, emphasizing the company’s commitment to transforming how businesses manage data across the region.
Peslac is a game-changer for the finance and insurance sectors. By combining innovative AI solutions with user-friendly pricing, the company is setting a new standard for efficiency and reliability.
