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InsureMO selects Newgen’s AI-led underwriting solutions

By Gloria Mathias

March 21, 2024

  • AI
  • fintech India
  • Fintech news
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Newgen, Temenos Exchange, InsurMO, Fintech News, Insurance Platform, AI, Underwriting Solutions, InsurTech, Fintech India, Fintech News, Newgen and InsureMO have partnered, merging Newgen’s specialised underwriting and policy administration solutions with InsureMO’s insurance platform.

The integration promises end-to-end automation, from application to issuance, with AI-led underwriting on the NewgenONE low-code platform.

InsureMO, processing over $25 billion in Gross Written Premium (GWP) annually for 300+ carriers across 40+ countries, offers a comprehensive suite of pre-built products and APIs. InsureMO’s capabilities enable rapid product creation and seamless connectivity to major placement platforms like PSC, Ebix, Steadfast, and the London market, expanding market reach. This alliance aims to provide speed and flexibility, empowering clients to introduce new products swiftly and adapt to market changes seamlessly.

“We are thrilled to unveil this strategic partnership with InsureMO,” shared Rajvinder Singh Kohli, Senior VP and Head of Global GSI at Newgen. “This collaboration is a giant leap towards revolutionising the insurance sector. Together, we leverage the transformative potential of low-code technology to fuel innovation and set unprecedented industry benchmarks.”

Rajat Sharma, Chief Revenue Officer of InsureMO, stated, “This partnership signifies a profound shift in redefining the insurance landscape. It empowers us to deliver unmatched value to our clients, facilitating a simplified and expedited digital journey without risky core PAS replacements.”

This dynamic partnership between Newgen and InsureMO signifies a powerful fusion of expertise and innovation, poised to redefine the insurance industry’s future. Stay tuned for a new era of efficiency, agility, and unparalleled digital transformation.

InsureMO is a global insurance infrastructure solution, offering an extensive portfolio of pre-built products, 2000 insurance APIs, and 1000 non-insurance services. InsureMO empowers insurers, underwriting agencies, brokers, and affinity partners to embark on seamless digital transformations without perturbing their existing legacy policy administration systems.

Newgen is the provider of a unified digital transformation platform with native process automation, content services, communication management, and AI/ML. Globally, successful enterprises rely on Newgen’s low-code application platform to develop and deploy complex, content-driven, and customer-engaging business applications. From onboarding to service requests, lending to underwriting, and many use cases across industries, Newgen unlocks simplicity with speed and agility.

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