LTIMindtree, a global technology consulting firm, launched its ‘AI-Smart Underwriter’ solution today in collaboration with ServiceNow, aimed at modernizing insurance underwriting processes. The new platform combines artificial intelligence and automation to streamline risk assessment and policy decisions.
The shares of LTIMindtree Limited were trading at ₹5,892.80 down by ₹50.30 or 0.85 per cent on the NSE today at 2.45 pm.
The solution, available through the ServiceNow Store, provides underwriters with a centralized hub for managing information and evaluating risks. It automates manual tasks throughout the underwriting process, from submission intake to policy binding and renewals.
Nachiket Deshpande, Chief Operating Officer at LTIMindtree, emphasized the solution’s alignment with their strategy of “Everyone with AI” and “AI in Everything.” Erica Volini, Senior Vice President of Global Partnerships at ServiceNow, highlighted how the partnership combines LTIMindtree’s digital consulting expertise with ServiceNow’s unified AI platform.
The platform is part of ServiceNow’s broader partner ecosystem, which supports a forecasted market opportunity of $275 billion through 2026 for the Now Platform. LTIMindtree, a Larsen & Toubro Group company with 84,000 professionals across 30 countries, currently serves over 700 clients globally.
The new solution aims to help insurance companies achieve profitable growth by providing underwriters with autonomous insights and intelligent automation capabilities while reducing time spent on routine tasks.