Hexaware Technologies has launched two new insurance solutions—ParaClaims and Intelligent Product Factory (IPF)—natively on Google Cloud. Designed to power rapid digital transformation, these platforms leverage AI and automation to accelerate claims, streamline product development, and enhance customer experience for global insurers.
Hexaware Technologies, a leading global IT services and consulting firm, announced the launch of two advanced insurance solutions—ParaClaims and Intelligent Product Factory (IPF)—on Google Cloud. These new offerings are built to address the rapidly evolving needs of insurers by harnessing the power of AI, automation, and cloud-native architecture.
ParaClaims enables insurance providers to process claims efficiently with generative AI for intelligent triaging, automated document management, and real-time fraud detection, resulting in faster settlements and reduced operational costs. IPF, meanwhile, automates every stage of the insurance product lifecycle, allowing quick model development, regulatory compliance, and seamless third-party integrations, all within a secure Google Cloud environment.
Hexaware’s new solutions empower insurance clients to reduce time-to-market for new products, boost customer satisfaction through digital self-service, and cut overall costs by modernizing legacy operations. With a deep partnership with Google Cloud, Hexaware leverages cutting-edge analytics and machine learning to help insurers unlock resilience and agility in a fast-changing market.
Key Highlights:
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Launched ParaClaims and IPF—AI-driven insurance platforms—on Google Cloud.
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ParaClaims automates claims management, improves fraud detection, and accelerates settlements.
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IPF transforms insurance product development with full lifecycle automation.
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Solutions enable rapid digital transformation and improved customer experience for insurers.
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Leverages Google Cloud’s security, scalability, and analytics capabilities.
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Signifies Hexaware’s commitment to innovation in the global insurance technology space.
Sources: Hexaware Technologies official site, Screener.in, NelsonHall, Rediff Money