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Summary
The fully managed Insurance AI Cloud aims to accelerate AI adoption, reduce costs by 60-80% and move AI use cases to production in just 3 to 4 weeks.
Mumbai, 4th December, 2024: Neysa, a leading AI Acceleration Cloud System provider, and Data Science Wizards (DSW), a deep-tech AI platform company, have announced a strategic partnership to launch a fully managed Insurance AI Cloud Platform designed for Indian insurance companies. This collaboration aims to empower Indian insurers to build, optimize and deploy AI/ML powered digital solutions confidently, enhancing operational efficiency, risk management, and customer-centric innovation across the sector.
India’s insurance penetration remains relatively low at 4.2% of GDP in 2023, highlighting the urgent need for digital transformation. As the sector strives to increase penetration and customize insurance products at scale, AI/ML based digital solutions can become a key enabler in building confidence and trust with consumers within the country.
Key Features of Insurance AI Cloud
The Insurance AI Cloud, powered by the seamless fusion of Neysa’s advanced cloud infrastructure and DSW’s UnifyAI platform, offers a fully managed, purpose-built solution for the insurance sector. Equipped with integrated AI and GenAI models alongside advanced tools, it enables insurers to rapidly build high-impact use cases like fraud detection, claims processing, persistency management, customer service, and risk management—among many others.
The platform’s in-built AI Studio streamlines the creation of AI use cases such as underwriting STP/non-STP risk scoring, pricing optimization, policy renewal predictions, customer sentiment analysis, and predictive claims analytics. Complementing this, the GenAI Studio enables the creation of comprehensive GenAI use cases and will feature over 300 ready-to-deploy GenAI Agents gradually, designed to deliver intelligent, autonomous solutions, including personalized policy recommendations, claims support, policy information extractor, AI sales agents, tailored marketing campaigns, and automated handling of legal & regulatory documents.
- Optimized AI Model and Data Capabilities for Insurance specific use cases
Tailored model architecture, feature engineering templates, and pre-configured parameter tuning, specifically designed for the insurance industry to drive efficient AI outcomes.
- For Insurance sector, by Insurance experts
Designed by insurance domain experts, our solution provides full compliance and regulatory alignment, addressing critical industry standards and needs.
- Simplified Operations and Integration: With access to on-demand GPU Cloud infrastructure for cost-efficiency and high performance, seamless APIs, pre-integrated workflows, and full compatibility with legacy systems, it ensures zero disruption to existing business systems and operations.
- Faster Time to Value and Local Support
By identifying, building, and right-sizing AI use cases, we ensure a swift path to value and ROI, backed by specialized support from DSW and Neysa to align with local market needs.
Sharad Sanghi, Co-Founder and CEO of Neysa, emphasized, “Our mission at Neysa is to make AI accessible for every user and organization, no matter where they are in their AI adoption journey. We focus on simplifying the AI infrastructure and platform layers with Neysa Velocis, enabling businesses to harness AI with ease, efficiency, and cost-effectiveness. Our collaboration with DSW is a significant step towards this goal. Indian insurers have faced numerous challenges in scaling AI adoption due to regulatory complexities and the difficulty of integrating with legacy systems. Together with DSW and our partner ecosystem, we are tackling these challenges head-on, ensuring that our clients can confidently embrace AI sustainably, driving innovation, and real-world impact.”
“DSW UnifyAI, crafted for the AI-first era, is revolutionizing how enterprises accelerate AI adoption. Backed by industry-leading certifications and trusted by pioneers in the field, UnifyAI has been driving large-scale AI transformation in leading companies,” said Sandeep Khuperkar, CEO and Founder of Data Science Wizards. “By integrating our DeepTech AI platform, UnifyAI, with Neysa’s Velocis AI Acceleration cloud system, we bring the Insurance AI Cloud—a fully managed, hyper-personalized solution for the insurance sector. Our goal is to empower insurers in harnessing AI and GenAI with speed, scale, and predictability, transforming their AI journey from concept to reality.
About Neysa
Neysa, an AI Acceleration Cloud System provider, democratizes AI adoption with purpose-built platforms and services for AI-native applications and workloads. Co-founded by industry leaders, Neysa empowers businesses to discover, deploy, and scale Gen AI and AI use cases securely and cost-effectively.
Their flagship platforms, Neysa Velocis, Neysa Overwatch, and Neysa Aegis, accelerate AI deployment, optimize network performance, and safeguard AI/ML landscapes. Neysa is committed to enabling AI-led innovation across industries and geographies.
About Data Science Wizards (DSW)
Data Science Wizards (DSW) is the driving force behind UnifyAI, an enterprise AI platform designed to accelerate AI/ML adoption. UnifyAI empowers businesses to rapidly scale AI use cases from experimentation to production with scale and precision. With certifications including SOC-II, ISO 27001, and HIPAA, along with powerful in-built tools like AI Studio and GenAI Studio, enterprises across sectors such as Insurance, Banking, Retail, and Telecom leverage UnifyAI to build and scale AI solutions in just 3-4 weeks, while massively reducing total cost of ownership (TCO).
