Mphasis has revealed a strategic alliance with Sixfold, an AI underwriting firm based in the US and UK that is transforming how insurers evaluate risk. This partnership seeks to revolutionize the insurance underwriting field by leveraging artificial intelligence to improve speed, precision, and operational efficiency.
Mphasis will incorporate Sixfold’s advanced AI underwriting platform into the existing systems of insurers. This platform is tailored for the Life & Disability, Commercial P&C & Specialty, and Reinsurance sectors. By optimizing the submission intake process and equipping underwriters with sophisticated contextual risk insights, Sixfold enables insurance professionals to make quicker, more informed decisions without sacrificing accuracy.
The technology drastically cuts review times—by over 50%—and enhances Gross Written Premium (GWP) per underwriter through smart risk selection. Its smooth integration into existing workflows allows insurers to implement the solution without needing to revamp their systems. Additionally, the platform swiftly adapts to each organization’s unique underwriting guidelines and risk appetite, ensuring tailored and compliant decision-making.
This partnership signifies a significant step in the digital evolution of insurance underwriting. With Sixfold’s established AI capabilities already utilized by leading insurance carriers, Mphasis is set to foster considerable innovation in the sector. The combined knowledge of both firms will empower insurers to speed up underwriting, optimize resources, and confidently embrace the future of AI-driven risk assessment with agility.
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