Indian IT company LTIMindtree has introduced the new AI-Smart Underwriter solution, designed to enhance the underwriting process with data and AI-driven insights.
This AI-powered offering has been developed in partnership with ServiceNow.
Go deeper with GlobalData
It aims to ease the decision-making process and enhance efficiency for underwriters via intelligent automation.
The solution, as a Strategic Platform Build Partner, provides a unified and integrated view of risk.
It automates processes from submission intake to policy binding and renewals, enabling underwriting teams to redirect their efforts from manual tasks to critical business decisions including risk selection, eligibility and pricing.
As a central hub, the new platform allows underwriters to access and manage all pertinent information, supported by tools and resources for assessing risks.
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By GlobalDataThis platform is expected to ‘revolutionise’ traditional insurance underwriting by leveraging advanced data analytics, AI and digital tools to deliver fast, accurate and scalable services, while also facilitating efficient agent collaboration.
ServiceNow’s partner ecosystem and partner programme are said to play a pivotal role in harnessing the forecasted $275bn market opportunity through 2026 for the new platform.
The ServiceNow Partner Programme rewards partners for their ability to drive opportunities, penetrate new markets and assist customers in transforming their businesses across the enterprise.
Commenting on the alliance with LTIMindtree, ServiceNow Global Partnerships senior vice-president Erica Volini said: “By combining LTIMindtree’s digital consulting expertise with our unified AI platform, we are providing a more agile, adaptive and intelligent underwriting solution for employees and clients that will redefine industry standards.”
In August 2023, US insurance company Aflac chose LTIMindtree to digitally transform its business.
With a workforce of more than 84,000 across more than 30 countries, LTIMindtree is a digital transformation partner to over 700 clients.
