Genpact launches AI-powered insurance underwriting suite

Genpact (NYSE: G) announced the launch of its Insurance Policy Suite for commercial and specialty business insurance on September 25. The AI-powered solution aims to automate underwriting support tasks and reduce manual processing in the insurance industry.

The suite consists of four modules with specialized AI agents designed to classify, extract and summarize data for underwriting processes. Built on Microsoft Azure AI Foundry Models and Azure Analytics Services, the system targets the gap between initial submission and policy binding.

According to company projections, organizations using the suite could see up to 90% touchless submission clearance, up to 75% reduction in manual cycle times, and up to 50% lower costs. The solution includes observability features, audit trails and role-based controls.

"We designed the Genpact Insurance Policy Suite with underwriters in mind so they can focus on delivering faster quotes, building better broker relationships, and increasing submission-to-bind ratios," said Jinsook Han, Chief Strategy, Corporate Development & Global Agentic AI Officer at Genpact.

Microsoft's Hemanth Sundararaj, Global Financial Services Industry Solution Sales Leader, stated the suite leverages Azure AI stack capabilities combined with Genpact's insurance expertise to help carriers accelerate cycle times and improve business performance.

The Insurance Policy Suite is part of Genpact's Service-as-Agentic-Solutions portfolio. Han noted the company has more than 1,000 domain-specific AI models and plans to expand its pipeline of AI solutions.

Information is based on a company press release statement.

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