Mphasis Partners with Sixfold to Automate Insurance Risk

Mphasis has struck a deal with artificial intelligence (AI) underwriting company Sixfold to help insurers speed up policy processing through automated risk assessment.

The Indian IT services group will act as an implementation partner for Sixfold's platform, which targets life and disability, commercial property and casualty, specialty and reinsurance markets. 

Sixfold, which operates in the US and UK, has developed technology that processes submissions and delivers risk insights to underwriters.

The partnership comes as insurance companies face mounting pressure to process applications faster while maintaining risk assessment accuracy. 

Traditional underwriting relies heavily on manual review processes that create bottlenecks in policy approval workflows.

Sixfold's platform is already running at several carriers and integrates with existing technology infrastructure. The system adapts to individual company risk appetites and delivers recommendations based on specific underwriting guidelines.

Technology cuts processing times

The AI solution reduces review times by more than half compared to manual processes, according to Sixfold. The company also claims its platform increases gross written premium per underwriter by enabling faster risk selection without compromising accuracy.

Mphasis will combine its insurance sector expertise with Sixfold's technology to offer automation solutions to global insurers. The arrangement allows insurance companies to deploy the system without major workflow disruptions or additional burden on underwriting teams.

The platform uses patented AI to understand and apply individual insurer underwriting guidelines. It automates repetitive tasks, freeing underwriters to focus on complex risk decisions that require human judgement.

Rather than replacing underwriters, the technology processes data and provides insights to support decision-making. This approach addresses industry concerns about AI displacing human expertise in risk assessment.

"Mphasis is excited to partner with Sixfold to accelerate AI adoption in the insurance industry," says Srikumar Ramanathan, Chief Solutions Officer at Mphasis. 

"By leveraging Sixfold's AI expertise in combination with expertise from Mphasis.ai and our insurance technology capabilities, we are able to deliver advanced, data-driven automation solutions for global insurers, driving efficiency, accuracy, and innovation across the insurance value chain."

Market demand drives adoption

Insurance companies are under competitive pressure to improve customer experience through faster application processing. Digital transformation has become a priority across the sector as traditional carriers compete with insurtech startups offering streamlined digital experiences.

The partnership reflects a broader industry movement towards AI adoption in core insurance functions. Underwriting represents one of the most labour-intensive processes in insurance operations, making it a natural target for automation.

Sixfold's technology handles submission intake and provides contextual risk insights that align with established company policies. The system maintains security protocols while processing sensitive risk data across different insurance lines.

The company was founded to address specific pain points in underwriting workflows that affect not just insurers but also brokers and customers waiting for policy decisions. Implementation speed has been a key design consideration for the platform.

Mphasis brings experience in deploying technology solutions within insurance company operations. The firm's track record includes successful implementations of complex systems that integrate with legacy infrastructure common in the insurance sector.

Partnership enables rapid deployment

The collaboration structure allows insurers to measure impact quickly without lengthy implementation cycles. Both companies emphasise the importance of demonstrating value early in the deployment process.

For Mphasis, the partnership expands its artificial intelligence capabilities in the insurance sector through access to Sixfold's specialist underwriting technology. The deal strengthens the Indian company's position in insurance technology services.

Insurance underwriting has historically been resistant to automation due to the complexity of risk assessment and regulatory requirements. 

However, advances in AI and machine learning have made it possible to automate routine elements while preserving human oversight for complex decisions.

The partnership addresses a specific market need for technology that can handle increased submission volumes without proportional increases in underwriting staff. 

This capability becomes particularly valuable as insurers seek to expand market share without corresponding cost increases.

Alex Schmelkin, Founder and CEO of Sixfold, says the partnership enables rapid implementation for insurance clients. 

“Sixfold was built to solve real problems for underwriters—and to make the entire process better for brokers and customers,” Alex says. 

“That means making implementation simple and fast. Mphasis has a great track record of getting technology live inside real-world insurance workflows. With them, insurers can move quickly, see impact fast, and do it all without adding extra work to their teams.”

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