AI and automation for L&A insurers that speed up policy operations, lower servicing costs, and deepen policyholder trust.
A life and annuities transformation partner with global L&A expertise, Hexaware delivers AI solutions for policy administration, claims, and compliance that reduce costs, speed decisions, and improve retention.
How Life and Annuity Providers Streamline Claims End-to-End
Life and annuity providers streamline end-to-end claims by using AI, workflow automation, and modern policy administration to accelerate processing, improve accuracy, and reduce servicing costs. Hexaware enables this through GenAI-driven claims automation, AI-powered underwriting workbenches, core modernization, and agentic AI for faster, seamless policyholder experiences.
Connect. Scale. Modernize.
Legacy policy administration systems and low STP rates have long held L&A insurers back, delaying policy issuance and limiting scalability. Weak D2C channels further disconnect carriers from today’s digital-first customers. Hexaware seamlessly transitions insurers to cloud-native platforms, boosting STP rates for faster, efficient operations. AI-powered D2C platforms — featuring chatbots, self-service tools, and personalized journeys — build meaningful connections across every generation.
Unified. Secure. Agile.
Data silos and fragmented technology ecosystems cost insurers clarity, efficiency, and customer trust. Hexaware resolves this by unifying systems into API-driven architectures that power seamless operations. AI analytics platforms deliver sharper underwriting, pricing, and engagement insights, while real-time climate data enables proactive risk modeling. Robust cybersecurity tools protect customer information and uphold global compliance — creating a truly resilient technology foundation.
Predict. Automate. Profit.
Volatile markets, escalating servicing costs, and private equity expectations leave little room for inefficiency. Hexaware addresses each pressure point — deploying predictive analytics to stabilize investment strategies, cutting servicing costs by up to 75% with AI and RPA automation, and driving underwriting accuracy through bionic technology. Together, these capabilities form an operational excellence framework built for profitability, resilience, and sustained investor confidence.
Automate. Engage. Retain.
L&A insurers must simultaneously win the war for talent, support an aging policyholder population, and meet the digital-first expectations of younger generations. Hexaware addresses each dimension — automating routine processes to free skilled talent, designing tailored retirement and annuity solutions for older customers, and deploying AI-powered digital platforms that engage Gen Z and Alpha through personalization — driving retention, relevance, and long-term competitive strength.
AI-powered tools, RPA, and predictive analytics streamline application intake, risk assessment, and policy issuance. Hexaware reduces underwriting cycle times by up to 70%, improves STP rates, and boosts app-to-issue ratios — balancing automation with human expertise through intelligent underwriter workbenches and advanced fraud detection.
Legacy systems limit scalability and drive up costs. Hexaware modernizes policy administration, billing, and claims using cloud-native platforms and API-driven architectures — improving agility, reducing TCO, and empowering policyholders with self-service portals and mobile apps that deliver 24/7 access and higher NPS scores.
As independent agencies rise and D2C models gain traction, L&A insurers must rethink distribution strategies. Hexaware covers the full distribution value chain — commission calculation, producer licensing, NIPR/SIRCON/FINRA registrations, hierarchy management, and compliance — enabling seamless self-service across B2B and D2C channels.
Hexaware’s AI-driven claims adjudication, fraud detection, and automated payouts deliver accuracy levels of up to 99.5% while significantly reducing settlement times. Sentiment analysis, predictive claim estimation, and real-time fraud analytics streamline claims handling — building policyholder trust through faster, seamless resolutions.
Hexaware redefines customer engagement with omnichannel platforms, self-service portals, and AI-powered chatbots that reduce call center volumes by 40%. Predictive analytics drive personalized product recommendations and proactive communication, while reimagined customer journeys deliver doubled NPS scores and seamless end-to-end digital experiences.
Hexaware empowers insurers with advanced analytics and predictive modeling to sharpen underwriting accuracy, optimize pricing, and boost customer retention. A data democratization approach ensures actionable insights flow across claims, policy servicing, and regulatory reporting — enabling personalized products and measurable business outcomes.
Hexaware administers fixed and indexed annuities, 401(k)s, IRAs, and group benefits including life, disability, dental, and supplemental health insurance. Advanced benefits administration platforms enable seamless billing, claims, and payroll integration — delivering tailored retirement solutions for diverse and aging policyholder demographics.
Using bionic principles, Hexaware redesigns underwriting, claims, servicing, billing, and distribution. Dynamic digital platforms accelerate (re)insurance operations, reducing go-to-market time and enabling rapid adaptation to market demands.
Agentverse™, Hexaware’s agentic AI platform, commands a host of business and IT AI agents across underwriting, claims, and servicing while managing Mega and Micro AI agents that ensure straight-through processing and better customer experience through intelligent automation
Hexaware accelerates L&A digital transformation with purpose-built tools — including a meta-driven data migration platform, a SCOT framework for systems transformation, and ETL accelerators for efficient, seamless data integration
Hexaware’s automation-first agile model deploys RPA bots and AI workflows across underwriting and claims — reducing costs by up to 40%, minimizing disruption, and enabling real-time monitoring for sustained operational excellence.
Partha Sen
Expert
Mukundan Madhavan
Expert
Ramganesh Sridharan
Expert
Personal Lines
Enable seamless omnichannel experiences with our insurance technology services and solutions. Digitalize and streamline the entire policy lifecycle.
Commercial & Specialty
Automate front, middle, and back-office processes to lower costs, increase efficiency, improve outcomes, and deliver personalized experiences.
Life insurance companies reduce new business processing costs by automating application intake, document verification, data extraction, underwriting workflows, and policy issuance. Technologies such as AI, robotic process automation (RPA), and straight-through processing (STP) eliminate manual tasks, reduce errors, accelerate decisions, and improve operational efficiency while allowing underwriters to focus on complex cases.
Life insurers modernize legacy policy administration systems by adopting phased transformation strategies that combine cloud-native platforms, API-driven integration, and incremental data migration. This approach allows insurers to modernize policy, billing, and claims operations while maintaining business continuity, reducing risk, and improving scalability without requiring a complete system replacement.
Life insurers accelerate underwriting by using AI to automate data collection, risk assessment, document analysis, and decision support. Predictive analytics, intelligent workflows, and automated underwriting tools reduce turnaround times, improve straight-through processing rates, and help underwriters make faster, more consistent decisions while maintaining regulatory compliance.
Yes. Agentic AI is designed to automate repetitive tasks, coordinate workflows, and provide decision support while keeping human underwriters in control of complex or high-risk cases. A human-in-the-loop approach enables insurers to improve speed, consistency, and productivity without replacing expert judgment or governance.
Life insurance companies improve migration accuracy by using automated data mapping, validation rules, reconciliation processes, and phased migration frameworks. Modern data migration tools help identify data quality issues early, reduce manual intervention, preserve historical policy information, and ensure accurate transfer to modern policy administration platforms.
Life insurance carriers should look for a technology partner with deep insurance domain expertise, proven experience in policy administration modernization, cloud and API capabilities, AI and automation expertise, strong data migration frameworks, regulatory compliance knowledge, and scalable delivery models. The right partner should minimize business disruption while enabling faster innovation, improved customer experiences, and long-term operational resilience.
Transform Your Life Insurance Operations Today
