First AI-enabled ‘Annual Report Analyzer’ by Softlogic Life with bold tech features

Further raising the bar, Softlogic Life, the country’s leading life insurer with the largest customer base in Sri Lanka has strengthened its ‘Annual Report Analyzer’ by embedding groundbreaking features, including its voice-enabled, AI (artificial intelligence) and machine learning-based AI-Agent “Lifey” and automatic visual interpretation of data.

These features make Softlogic Life the first company in Sri Lanka to integrate AI capabilities of this magnitude into annual report analysis, setting a new benchmark in corporate reporting landscape in Sri Lanka.

Softlogic Life introduced the Annual Report Analyzer earlier this year as Sri Lanka’s first AI-powered tool that analyses and interprets information from its Annual Reports by employing advanced AI capabilities and machine learning algorithms to swiftly process vast amounts of data. This offered stakeholders a quicker, simpler, and more efficient means of accessing critical information. With this introduction, the traditional approach to reading annual reports underwent a profound transformation.

As part of the new features embedded into the Annual Report Analyzer, the Artificially Intelligent agent termed Lifey, serves as a centrepiece of this tool. This upgraded feature “Lifey” is an advanced AI assistant capable of interacting with users through voice and text in real-time to extract, analyse, and present data from the company’s annual report. With its ability to perform complex analysis, this AI agent offers a seamless and intuitive experience, empowering stakeholders to explore and understand key financial and operational metrics without the need for manual searches or technical expertise.

“Softlogic Life has always been in the forefront of introducing many industry-firsts and Sri Lanka-firsts. Sri Lanka’s first video annual report, ‘Generate Your Own Report’ feature, the interactive dashboard are some amongst them. We developed the Annual Report Analyzer to empower our stakeholders with rapid, efficient access to extensive data, eliminating the time-intensive process of manual analysis,” said Softlogic Life Chief Financial Officer Nuwan Withanage.

“This tool translates complex information into clear, actionable insights, making even the most intricate details easily understandable. As we continue our journey with AI, we are now strengthening this tool with new features to further streamline access. As the Life insurer with the largest customer base in Sri Lanka (1.5 m), we have a significant responsibility towards transparency and governance. Making our information easily accessible to every stakeholder in a smarter, more sustainable way, reflects our commitment to this responsibility.”

Softlogic Life’s innovative approach to presenting corporate information sets a new benchmark. By integrating features like a voice-enabled AI agent and dynamic visualisations into their Annual Report Analyzer, they continue to enhance technological excellence.

“Inclusion of voice-enabled queries and analysis truly underscores our commitment to driving convenience and accessibility in everything we do,” said Softlogic Life Chief Digital Innovation Officer Saranga Wijayarathne. “Whether someone is unable to type or is on the go, this tool is equipped to respond to voice commands, providing immediate and accurate answers at any time anywhere. Combined with automatic visualization that simplifies data-heavy queries and transforms complex data into dynamic, easy-to-understand graphs, the Annual Report Analyzer offers stakeholders a seamless experience, delivering clarity, efficiency, and actionable insights to meet their needs effortlessly.”

Softlogic Life portrays a clear focus towards creating solutions to meet the evolving demands of an ever-changing digital world. As a result, the company progresses unlike any other, setting new standards and becoming the benchmark for the industry. Recently, Softlogic Life made history by becoming Sri Lanka’s only company to secure two top-three awards at the prestigious SAFA Best Presented Annual Report Awards 2023, a testament to its excellence in financial reporting and corporate transparency. At CA Sri Lanka 57th TAGS Annual Report Awards Softlogic Life was placed overall second for the third consecutive year and emerged as Overall winner at 2023 CMA Sri Lanka – Integrated Reporting Awards. This remarkable achievement underscores the company’s commitment to leveraging cutting-edge digital solutions, which extend to its approach to financial reporting.