IIT-Indore Partners With Sun Life Global Solutions To Drive Innovation In Insurance Through AI & Emerging Technologies

Indore (Madhya Pradesh): IIT Indore has signed a MoU with Sun Life Global Solutions (SLGS), the Global Capability Centre and microcosm of the global insurance and asset management leader Sun Life, to drive innovation that will encompass the application of new age technologies like AI/ML, data analytics and generative AI, especially in the field of insurance, including the improvement of risk appraisal, claim settlement and customer satisfaction. 

Sharing his thoughts on the partnership, Director of IIT Indore, Professor Suhas S. Joshi, said, "This collaboration presents an excellent opportunity for both organisations to provide our students and faculty with a platform to push their creative boundaries and apply them in the insurance sector. The partnership is particularly important given the expanding influence of Global Capability Centers in India, which include a significant number of insurance and BFSI companies driving innovation, client excellence and technological progress. Working closely with GCCs like Sun Life Global Solutions, can help strengthen the culture of innovation and build a strong talent pool to meet the industry's future needs. This mutually advantageous partnership will not only help provide industry-led experience but will also play a role in the broader transformation of the industry."

Through this partnership, Sun Life aims to boost productivity and enhance service delivery by helping nurture a skilled workforce capable of addressing new technological challenges in the GCC sector – with a razor-sharp focus on Insurance industry at large. This collaboration is expected to drive significant innovations in areas like risk assessment, claims handling, and customer segmentation, all of which are on the brink of major transformation. By harnessing these advancements, Sun Life will be well-positioned to streamline its processes and deliver exceptional client services.

Sun Life Global Solutions’ Managing Director, Tarun Sareen, said, “Our collaboration with IIT Indore marks an exciting new chapter in our pursuit of driving meaningful innovations and solutions through technological excellence. By joining forces with India's leading minds in research and engineering, we're accelerating our ability to deliver cutting-edge solutions that address our Clients' evolving needs. This partnership will fuel innovation across AI, cloud computing, and emerging technologies, enabling us to set new industry standards and drive growth in key areas like claims prevention and biometrics. Together with IIT Indore, we're not just adapting to the future - we're actively shaping it, fostering a culture of engineering brilliance that will propel our Purpose."