New Delhi, Nov. 11 -- IT solutions provider Hexaware Technologies on Tuesday announced the launch of two cloud-native insurance platforms-ParaClaims and Intelligent Product Factory (IPF)-developed exclusively for Google Cloud. The move deepens Hexaware's collaboration with Google and aims to help insurers modernize claims management and product innovation through artificial intelligence (AI), automation, and scalable cloud architectures.
The ParaClaims platform automates the end-to-end process of parametric insurance claims, integrating real-time data from trusted global sources such as the India Meteorological Department (IMD), NOAA, satellite networks, and Google Earth Engine for continuous environmental monitoring. Using the Agent-to-Agent Protocol, AI agents autonomously handle trigger detection, data validation, and claims settlement-reducing settlement timelines from weeks to a few hours. All operational data is unified within Google BigQuery, ensuring transparency and auditability across the claims process.
The Intelligent Product Factory redefines insurance product delivery by providing brokers, reinsurers, and managing general agents (MGAs) with an AI-assisted, no/low-code environment for faster product creation. Leveraging Vertex AI and Gemini Enterprise, the platform allows insurers to design and configure new insurance products directly from natural-language prompts or unstructured documentation. Autonomous agents manage configuration, testing, and deployment cycles, while NotebookLM and Looker deliver real-time analytics and summarisation on a BigQuery foundation.
"These solutions build on our ongoing partnership with Google Cloud and are designed to help brokers, reinsurers, and MGA firms modernize two of the most critical parts of their value chain-claims and insurance product development-through automation and intelligence," said Shantanu Baruah, President and Global Head - Healthcare, Life Sciences & Insurance, Hexaware.
Christina Lucas, Global Director & Market Leader, Insurance at Google Cloud, said the collaboration brings together Google's AI and data capabilities with Hexaware's domain expertise to "enable brokers, reinsurers, and MGAs to operate with greater speed, transparency, and agility."
"Our partnership with Google Cloud continues to deepen as we engineer insurance solutions natively on its platform, aligning to industry needs around scale, governance, and speed of change," added Apurva Kadakia, Global Head - Cloud, Hexaware.
The launch forms part of Hexaware's broader strategy to build cloud-first capabilities supporting the digital future of insurance operations.
For the quarter ended September, Hexaware's revenue rose to $394.8 million, up 3.3% sequentially and 5.5% year-on-year in dollar terms. Net profit declined 5.4% sequentially, with CEO R Srikrishna citing strong momentum in financial services, travel, and healthcare and insurance, while manufacturing remained a laggard due to tariff pressures.
Published by HT Digital Content Services with permission from TechCircle.