LTIMindtree Unveils AI-Smart Underwriter to Revolutionise Insurance

LTIMindtree, a global tech consulting and digital solutions company, launched the ‘AI-Smart Underwriter’ solution on October 22, 2024. Developed in collaboration with ServiceNow, this tool helps underwriters make smarter, AI-powered decisions by automating tasks and improving efficiency. The solution aims to create a better experience for insurers by streamlining processes.

As a Strategic Platform Build Partner, LTIMindtree’s AI-Smart Underwriting simplifies the insurance process by offering a unified view of risks and automating tasks from policy submissions to renewals. This allows underwriters to focus on key decisions like risk assessment, eligibility, and pricing.

Nachiket Deshpande, Chief Operating Officer and Whole-time Director of LTIMindtree said, “We are excited to partner with ServiceNow to help insurance underwriters achieve elusive profitable growth by providing a single window to the risk, intelligent automation and data-driven autonomous insights. Our investments in AI-smart solutions 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.” 

The AI-Smart Underwriting platform acts as a central hub where underwriters can access and manage all important information, supported by tools and resources to assess risks and make well-informed decisions. This platform transforms traditional insurance underwriting by using advanced data analytics, AI, and digital tools to automate tasks, delivering faster, more accurate, and scalable services. It also improves collaboration between agents and equips underwriters with critical insights for quicker decision-making. The solution is available on the ServiceNow Store.

ServiceNow’s wide network of partners plays a key role in supporting the projected $275 billion market opportunity for the Now Platform by 2026. The ServiceNow Partner Program recognises and rewards partners for their expertise, helping to drive new opportunities and support business transformation.

About LTIMindtree

LTIMindtree is a global tech consulting and digital solutions company that helps businesses across industries rethink their models, boost innovation, and achieve growth through digital technology. As a digital transformation partner to over 700 clients, LTIMindtree leverages its technology and industry expertise to provide unique customer experiences and drive business success. With over 84,000 professionals in 30+ countries, LTIMindtree, part of the Larsen & Toubro Group, solves complex business problems and delivers large-scale transformations.

On October 22, 2024, LTIMindtree’s share price opened at ₹5,968.95, touching the day’s high of ₹5,996.80  as of 02:14 PM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.