Hexaware, an IT services and solutions provider, looks to accelerate insurance pricing transformation with its recent Earnix partnership, a global provider of AI-based SaaS pricing and rating solutions for financial services.

The partnership aims to improve underwriting, efficiency, reduce losses, better comply with the regulations, and ensure competitive advantage through effective pricing strategies.

Hexaware supports pricing transformation across lines of business and pricing models for insurers, brokers, and MGAs.

The firm believes that intelligent pricing is crucial in enabling more accurate risk assessment and premium setting.

With emerging AI and ML technologies transforming insurance pricing, insurers can benefit from Earnix’s advanced data analytics and AI-driven models as it allows them to evaluate individual risk factors precisely, creating more accurate and dynamic pricing models.

These tailored premiums improve underwriting accuracy and customer satisfaction, adapting to real-time data and reflecting changes in risk profiles promptly.

Sandesh Shetti, Global Leader of Insurance, Hexaware, said: “Hexaware’s expertise in AI and ML, combined with Earnix’s pricing and underwriting solutions will help our clients refine pricing strategies, improve customer satisfaction, and maintain a competitive edge.”

Ruth Fisk, Head of Business Development, Earnix, commented: “Earnix is excited to join forces with Hexaware to drive significant advancements in the insurance industry.

“By combining our expertise, we can offer a comprehensive suite of solutions that helps insurers optimise their pricing and risk management strategies, improve customer experience, and ultimately drive growth and profitability.”

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