Tech Mahindra partners with Atidot to develop AI-based insurance solution

Indian IT major Tech Mahindra and Israeli insurtech Atidot have teamed up to develop artificial intelligence-enabled platform for life insurance firms. The companies, through this collaboration, will look to boost the profitability of insurance companies by providing a unique solution that can predict client behaviour, lapse patterns and boost their cross-sell as and up-sell capabilities. The platform will also enable insurers to suggest clients more suitable products that offer better coverage and also protect their retirement savings. Using the solution, insurance companies can also better evaluate coverage needs and remedy under or over-insured policies, the Indian IT major said in its press statement. The platform will also allow life insurance companies to better capitalise on revenue potential by addressing and correcting underinsured policies to increase premium collection.