Mphasis, a leading provider of IT solutions specializing in cloud and cognitive services, has announced a strategic collaboration with Sixfold, a US and UK-based AI company focused on revolutionizing insurance risk assessment. This partnership will see Mphasis integrate Sixfold’s AI-powered platform to streamline the underwriting process for insurers, helping them speed up submission intake and provide underwriters with essential risk insights.
The goal is to enable quicker, more confident decision-making. Sixfold’s platform, designed for various insurance sectors, including Life & Disability, Commercial P&C, Specialty, and Reinsurance, reduces review times by more than half while increasing the Gross Written Premium (GWP) per underwriter by enhancing risk selection speed and accuracy.
Through this alliance, Mphasis aims to optimize underwriting workflows, improve operational efficiency, and foster intelligent decision-making using Sixfold’s advanced AI solutions. Already in use by top carriers, Sixfold’s platform integrates seamlessly into existing processes and can be tailored to each insurer’s risk appetite, providing personalized recommendations that align with specific underwriting guidelines.
Srikumar Ramanathan, Chief Solutions Officer at Mphasis, commented, “We are excited to work with Sixfold to drive AI adoption in the insurance sector. Combining Sixfold’s AI expertise with Mphasis’ deep knowledge in insurance technology, we are poised to offer cutting-edge, data-driven automation solutions to global insurers, enhancing efficiency, accuracy, and innovation throughout the insurance value chain.”
Alex Schmelkin, Founder & CEO of Sixfold, added, “Sixfold was created to solve real challenges for underwriters and improve the process for brokers and customers. Mphasis has a strong track record in seamlessly integrating technology into real-world insurance workflows. With them, insurers can implement our platform quickly and start seeing results without burdening their teams. It’s a win for all parties.” This partnership is a significant milestone in transforming insurance underwriting, empowering insurers to evaluate risks with greater speed and precision.
Mphasis is a global IT services provider committed to delivering scalable and sustainable software and technology solutions to enterprises worldwide. With a customer-first approach, Mphasis leverages the power of cloud and cognitive technologies to create personalized digital experiences. The company’s Front2Back™ transformation approach helps businesses modernize legacy systems, enabling them to stay ahead in a fast-evolving world. Mphasis is focused on driving innovation through domain expertise and a commitment to sustainability.
Sixfold is an AI-driven platform designed specifically for insurance underwriters, automating repetitive tasks and allowing underwriters to focus on strategic risk decisions. Using patented AI technology, Sixfold securely adapts to each insurer’s unique guidelines, offering tailored risk insights and recommendations. The platform accelerates the underwriting process, increasing GWP per underwriter by at least 30% and cutting submission processing times by over 50%.
