Hexaware unveils AI insurance tools with Google Cloud backing
Hexaware has introduced two new artificial intelligence-powered solutions for the insurance sector, both built on Google Cloud. The offerings target claims management and insurance product development, with the aim of automating core industry processes.
Claims automation
The new parametric claims platform brings automation to the entire life cycle of an insurance claim. This system draws on real-time data from global sources including satellite networks and weather agencies, combined with Google Earth Engine, to monitor environmental triggers that may result in insurance claims.
Using a framework of autonomous AI agents, the platform manages trigger detection, validates incoming data, and determines claims settlements with minimal human intervention. All operational data is stored in Google BigQuery, with the aim of delivering a transparent and auditable process for insurers handling high volumes of claims.
"These solutions build on our ongoing partnership with Google Cloud and are designed to help brokers, (re)insurers and MGA firms modernise two of the most critical parts of their value chain-claims and insurance product development-through automation and intelligence," said Shantanu Baruah, President & Global Head - Healthcare, Life Sciences & Insurance, Hexaware
Product configuration
Alongside the claims solution, Hexaware has launched an AI-driven platform for insurance product creation. This solution provides brokers, insurers, reinsurers, and Managing General Agents with a no- or low-code environment for developing new insurance offerings.
The platform relies on AI models from Google Vertex AI and Gemini Enterprise, allowing users to generate and configure insurance products through natural language prompts or documentation. It also leverages AI agents to automate product testing and deployment. Features such as summarisation, analytical insights, and conversational analytics are integrated into the platform, using Google's NotebookLM and Looker with BigQuery support.
With these tools, Hexaware intends to help insurance firms accelerate the development and launch of new products, while delivering greater data-driven insights throughout the process.
Industry collaboration
The announcement forms part of a growing collaboration between Hexaware and Google, as both companies align efforts on digital transformation in insurance through automation and cloud technologies. The partnership also seeks to address ongoing demands for transparency, scale, and governance in a sector facing evolving customer expectations and regulatory requirements.
"We're pleased to collaborate with Hexaware in applying the power of Google Cloud's data and AI capabilities to deliver measurable impact for the insurance industry, supported by Hexaware's domain and delivery expertise in the insurance sector. We're excited to commence this journey with the launch of the "Intelligent Product Factory (IPF)" and "ParaClaims" for parametric claims solutions. Together, we're enabling brokers, (re)insurers and MGAs to operate with greater speed, transparency, and agility," said Christina Lucas, Global Director & Market Leader, Insurance, Google
The engineering process behind these solutions follows a cloud-native model, tailored to integrate with large-scale insurance operations. According to Hexaware, the development has focused on addressing practical industry needs in areas such as governance and operational speed.
"Our partnership with Google Cloud continues to deepen as we engineer insurance solutions natively on its platform, aligning to industry needs around scale, governance, and speed of change," said Apurva Kadakia, Global Head - Cloud, Hexaware
