Sun Life will share its industry expertise with the Indian Institute of Technology (IIT), facilitating the creation and testing of new algorithms and models in a practical setting. Credit: T. Schneider/Shutterstock.

Sun Life Global Solutions has collaborated with IIT Indore to leverage technologies such as AI/machine learning, data analytics and generative AI in the insurance industry.  

The two parties aim to revolutionise various aspects of insurance, including risk assessment, claims handling and customer segmentation.  

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Sun Life’s objective is to improve client journeys by integrating technology and nurturing a skilled workforce adept at navigating the technological landscape of the global capability centre (GCC) sector within the insurance industry. 

Students at IIT Indore will benefit from this by gaining practical data analysis skills, solving real-world problems and obtaining industry-relevant experience.  

This hands-on approach is expected to increase their employability and provide them with opportunities for internships at Sun Life Global Solutions. 

The development of a capable workforce to address emerging challenges in the insurance industry is a key goal of the partnership.  

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Sun Life will share its industry expertise with IIT Indore, facilitating the creation and testing of new algorithms and models in a practical setting.  

The partnership will encompass joint research projects, technology transfer and support for India’s start-up ecosystem.  

IIT Indore director and professor Suhas S. Joshi said: ” The partnership is particularly important given the expanding influence of GCCs in India, which include a significant number of insurance and BFSI companies driving innovation, client excellence and technological progress.  

“Working closely with GCCs like Sun Life Global Solutions can help strengthen the culture of innovation and build a strong talent pool to meet the industry’s future needs.” 

Sun Life Global Solutions MD Tarun Sareen said: “By joining forces with India’s leading minds in research and engineering, we are accelerating our ability to deliver cutting-edge solutions that address our clients’ evolving needs. This partnership will fuel innovation across AI, cloud computing and emerging technologies, enabling us to set new industry standards and drive growth in key areas like claims prevention and biometrics.”