This collaboration aims to enhance underwriting practices, improve efficiency, reduce losses, and ensure regulatory compliance, while providing a competitive edge through more effective pricing strategies.
Hexaware’s approach focuses on transforming underwriting practices across various lines of business and pricing models for insurers, brokers, and MGAs. Intelligent pricing plays a key role in enabling more accurate risk assessments and premium settings.
Emerging AI and machine learning (ML) technologies are revolutionising insurance pricing. With Earnix’s advanced data analytics and AI-driven models, insurers can precisely evaluate individual risk factors, leading to more accurate and dynamic pricing models. These customised premiums enhance underwriting accuracy and customer satisfaction by adapting to real-time data and promptly reflecting changes in risk profiles.
Sandesh Shetti, Global Leader of Insurance at Hexaware, said, “Hexaware’s expertise in AI and ML, combined with Earnix’s pricing and underwriting solutions, will help our clients refine pricing strategies, improve customer satisfaction, and maintain a competitive edge.”
Ruth Fisk, Head of Business Development at Earnix, said, “Earnix is excited to join forces with Hexaware to drive significant advancements in the insurance industry. By combining our expertise, we can offer a comprehensive suite of solutions that helps insurers optimise their pricing and risk management strategies, improve customer experience, and ultimately drive growth and profitability.”
