Neysa, a provider of AI Acceleration Cloud Systems, and Data Science Wizards (DSW), a deep-tech AI platform company, have partnered to launch a fully managed Insurance AI Cloud Platform aimed at Indian insurance companies.
This collaboration seeks to empower insurers in India to build, optimize, and deploy AI/ML-powered digital solutions, enhancing operational efficiency and customer-centric innovation.
India's insurance penetration is notably low at 4.2% of GDP in 2023, underscoring the need for digital transformation in the sector.
The Insurance AI Cloud combines Neysa's advanced cloud infrastructure with DSW's UnifyAI platform, offering integrated AI and GenAI models. It enables insurers to develop use cases such as fraud detection, claims processing, and risk management.
The platform features an AI Studio for creating various AI applications, including underwriting risk scoring and predictive claims analytics, while the GenAI Studio will provide over 300 ready-to-deploy GenAI Agents for personalized policy recommendations and automated claims support.
Designed by insurance experts, the solution ensures compliance with industry standards and offers seamless integration with existing systems. Neysa's CEO, Sharad Sanghi, stated, 'Our mission at Neysa is to make AI accessible for every user and organization. Our collaboration with DSW is a significant step towards this goal, enabling Indian insurers to embrace AI sustainably and drive innovation.'