Hexaware Technologies has launched advanced insurance solutions on Google Cloud, strengthening their partnership. These AI-driven solutions focus on Claims Management, and Insurance Product Delivery and Management. The new offerings aim to accelerate digital transformation through automation, AI, and cloud-native architectures for the insurance industry, promising enhanced efficiency and speed.
New AI-Driven Insurance Solutions
Hexaware Technologies (NSE: HEXT) has expanded its collaboration with Google Cloud by launching two new insurance solutions developed exclusively for the platform. The solutions are designed to modernize critical aspects of the insurance value chain through automation and AI. These offerings address the increasing need for digital transformation in the insurance sector with scalable, cloud-native architectures.
Parametric Claims Solution
Hexaware’s parametric claims solution automates the full life cycle of parametric insurance claims. The platform integrates real-time data from sources like IMD, NOAA, and Google Earth Engine. It employs self-governing AI agents to handle trigger detection, data validation, and claims settlement, reducing settlement timelines significantly. This integrated approach enhances efficiency and transparency throughout the claims process. All operational data is unified within Google BigQuery.
Intelligent Product Delivery Platform
The intelligent platform from Hexaware transforms the insurance product delivery lifecycle. It provides brokers, (re)insurers, and MGAs with an AI-assisted, low-code environment. Powered by Vertex AI and Gemini Enterprise, it enables the autonomous creation and configuration of new insurance products directly from natural-language prompts and unstructured documentation. This innovation facilitates faster and more flexible product development, optimizing business insights through real-time analytics via Looker and a BigQuery data foundation.
Executive Commentary
Shantanu Baruah, President & Global Head – Healthcare, Life Sciences & Insurance, Hexaware, stated that the solutions enhance their Google Cloud partnership and aim to help brokers, (re)insurers, and MGAs modernize claims and product development. Christina Lucas, Global Director & Market Leader, Insurance, Google, added that the collaboration applies Google Cloud’s AI capabilities to deliver measurable impact in the insurance industry. Apurva Kadakia, Global Head of Cloud, Hexaware, mentioned the deepening partnership with Google Cloud, aligning insurance solutions natively to industry needs for scale and governance.
Source: BSE
