Hexaware Technologies Limited has announced the launch of two AI-driven insurance solutions on Google Cloud, further strengthening their partnership with the tech giant. These innovative offerings aim to accelerate digital transformation in the insurance sector by leveraging automation and scalable cloud-native architectures. The new solutions include a parametric claims management platform and an intelligent insurance product delivery system designed to enhance operational efficiency and drive significant improvements in the claims lifecycle.

The parametric claims solution automates the entire lifecycle of claims processing by integrating real-time data from sources like the India Meteorological Department (IMD), NOAA, and Google Earth Engine. This technology allows for rapid claims settlement, reducing timelines from weeks to mere hours through the use of self-governing AI agents that autonomously handle trigger detection and data validation. Operational data is consolidated within Google BigQuery, ensuring transparency and comprehensive auditability throughout the claims process. Meanwhile, the intelligent platform transforms the insurance product development lifecycle, enabling brokers and insurers to innovate quickly and efficiently with a no-code environment powered by Vertex AI and Gemini Enterprise.

Shantanu Baruah, President & Global Head of Healthcare, Life Sciences & Insurance at Hexaware, emphasized the solutions' potential to modernize critical segments of the insurance value chain. Christina Lucas, Global Director at Google, expressed excitement about the collaboration, stating that the combination of Hexaware's industry expertise and Google Cloud's capabilities will empower insurers to operate with greater speed, transparency, and agility. This launch is a key part of Hexaware's strategy to develop cloud-first capabilities that meet the evolving needs of the insurance industry.