6 days ago
- Business
- Business Standard
Mphasis inks pact with Sixfold to enhance AI-led underwriting
Mphasis announced that it has entered into a strategic partnership with Sixfold, an AI underwriting specialist, to integrate Sixfold's platform into insurers' systems.
Sixfold develops AI tools that enable insurance companies to assess risk more efficientlya key component in determining policy issuance and pricing. Its platform facilitates faster submission intake and automates underwriting, thereby allowing insurers to make quicker and more confident decisions.
Through this collaboration, Mphasis aims to streamline underwriting processes, enhance operational efficiency, and drive intelligent decision-making by leveraging Sixfolds advanced AI capabilities.
Srikumar Ramanathan, Chief Solutions Officer, Mphasis, said, Mphasis is excited to partner with Sixfold to accelerate AI adoption in the insurance industry. By leveraging Sixfolds AI expertise in combination with expertise from and our insurance technology capabilities, we are able to deliver advanced, data-driven automation solutions for global insurers, driving efficiency, accuracy, and innovation across the insurance value chain.
Alex Schmelkin, Founder & CEO of Sixfold, said, Sixfold was built to solve real problems for underwritersand to make the entire process better for brokers and customers. That means making implementation simple and fast. Mphasis has a great track record of getting technology live inside real-world insurance workflows. With them, insurers can move quickly, see impact fast, and do it all without adding extra work to their teams. Thats a win for everyone involved.
Mphasis is a leading Information Technology (IT) solutions provider specializing in cloud and cognitive services.
The companys consolidated net profit advanced 13.5% to Rs 446.49 crore on an 8.7% jump in net sales to Rs 3,710.04 crore in Q4 FY25 over Q4 FY24.
Shares of Mphasis rose 0.27% to Rs 2,708.95 on the BSE.
