According to an official release, Aditya Birla Sun Life Insurance (“ABSLI”), the life insurance subsidiary of Aditya Birla Capital Limited (“ABCL”), launched an innovative AI/ML-driven underwriting platform in collaboration with Artivatic.ai, a RenewBuy company. This collaboration is expected to change the life insurance underwriting in India and will also focus on customer-oriented strategies and making decisions based on data analysis.
“This partnership aligns with the aim to explore technological advancements to offer innovative solutions to our customers and partners. We also plan to provide a holistic customer view, aiding in selecting the right customers at the right price. In a digital world, Artivatic.ai will aim to manage risk and fraud mitigation,” Kamlesh Rao, MD, CEO, Aditya Birla Sun Life Insurance, explained.
The platform’s risk assessment is expected to offer deep insights into applicants’ profiles, helping insurers to make well-informed underwriting decisions. The ABSLI-Artivatic.ai collaboration is believed to use an AI-based smart Underwriting Platform and will improve efficiency, accuracy, and risk assessment in the insurance industry, as per insights from the official release.
