Platform to revolutionize the underwriting process, enabling profitable growth for insurers
Mumbai, India, October 22, 2024: LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced the launch of an ‘AI-Smart Underwriter’ solution developed in collaboration with ServiceNow to empower underwriters to make more informed, data- and AI-driven decisions while driving efficiency through intelligent automation. Through this effort, LTIMindtree will create better experiences and drive value for insurers.
As a Strategic Platform Build Partner, the certified AI-Smart Underwriting solution simplifies insurance underwriting with a single, seamless, and integrated view of risk and automation of processes. From submission intake to policy binding and renewals, AI-Smart Underwriting from LTIMindtree and powered by the ServiceNow platform will enable underwriting teams to save efforts on manual tasks and focus on making business-critical decisions such as risk selection, eligibility, and pricing.
Nachiket Deshpande, Chief Operating Officer and Whole-time Director, LTIMindtree, said, “We are excited to partner with ServiceNow to help insurance underwriters achieve the elusive profitable growth by providing a single window to the risk, intelligent automation, and data-driven autonomous insights. Our investments in the AI-Smart solution are consistent with our strategy of empowering ‘Everyone with AI’ by embedding ‘AI in Everything’ and providing a comprehensive platform with ‘Everything in AI’ capabilities.”
ServiceNow is committed to transforming and simplifying the complex insurance underwriter experience through the power of technology and AI capabilities, said Erica Volini, Senior Vice President of Global Partnerships at ServiceNow. “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,” she added.
The AI-Smart Underwriting platform serves as a central hub where underwriters can access and manage all relevant information, assisted by tools and resources to evaluate risks and make informed decisions. This will revolutionize traditional insurance underwriting by automating their work with advanced data analytics, AI, and digital tools to provide fast, accurate, and scalable services. AI-Smart Underwriting will enable efficient agent collaboration and empower underwriters with critical insights to make quicker decisions. This solution will be available in the ServiceNow Store here.
ServiceNow’s expansive partner ecosystem and partner program is critical in supporting the $275 billion forecasted market opportunity through 2026 for the Now Platform. The ServiceNow Partner Program recognizes and rewards partners for their varied expertise and experience to drive opportunities, open new markets, and help customers transform their business across the enterprise. Please refer to the appropriate ServiceNow solution page HERE to access the latest public descriptions of ServiceNow solutions.
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