Indian private life insurer SBI Life Insurance announced today that it has engaged global digital technology and operations services provider Datamatics (BSE: 532528; NSE: DATAMATICS) to deploy a TruAI underwriting solution based on Agentic AI, aiming to transform its underwriting operations.
Underwriting is a critical function for life insurers, particularly for complex cases involving detailed medical histories, lab reports, and multiple risk indicators. Traditionally, this process heavily relies on manual review by underwriters, which is time-consuming and demands significant professional expertise. The TruAI underwriting platform introduced by SBI Life is designed to assist underwriters in handling such complex medical underwriting cases more quickly, consistently, and with greater depth.
The platform can ingest and analyze documents such as medical reports, declarations, and test results, extracting key medical parameters and highlighting potential risk indicators. The system generates an integrated digital case summary and provides intelligent decision support based on underwriting rules and historical outcomes. The solution possesses self-learning capabilities, continuously optimizing risk assessment while retaining the final decision-making authority with human underwriters to ensure governance, accountability, and compliance.
Rahul Kanodia, Vice Chairman and CEO of Datamatics, stated that the company is making strategic investments in AI and Agentic AI to address complex enterprise challenges. The TruAI underwriting solution exemplifies how these investments translate into tangible business impact, helping clients achieve more efficient operations and significantly reduce operational costs.
This collaboration marks a significant step for SBI Life in enhancing decision quality, operational efficiency, and customer experience. Data indicates that the solution has the potential to reduce underwriting turnaround time by up to 70% while lowering costs by up to 50%. Following this announcement, Datamatics' stock price rose approximately 3% during intraday trading on May 27th.