EXL and InsureMO say they will help insurers worldwide launch new products faster, cut costs and modernise core systems without disruption under a new partnership.

The pairing will also help insurers speed AI integration, EXL says.

One insurance client launched a new product within four weeks using the partners’ integrated solution, achieving automated underwriting, streamlined policy issuance and a drop in operational costs of about 30%, according to EXL.

Head of international growth markets Vishal Chhibbar says the collaboration gives insurers a “smarter, faster path to modernisation without the disruption, downtime or heavy costs typically associated with core system transformation.

“By combining InsureMO’s proven middleware platform with EXL’s deep insurance expertise and ready-to-deploy insurance AI solutions, we’re offering an agile, lower-risk alternative that enables insurers to innovate and scale with confidence.”  

The partnership is “designed to help insurers move beyond monolithic systems and accelerate innovation across underwriting, policy administration, claims and distribution. With modular, scalable components, insurers can adapt quickly to market changes and deliver enhanced customer experiences.”

InsureMO’s middleware integrates with placement platforms such as PSC, Ebix, Steadfast and the London market.

EXL helps add AI-powered underwriting and automated claims without having to replace core systems.

InsureMO chief revenue officer Rajat Sharma said: “This is about enabling insurers to innovate while minimising risk.

“Our collaboration with EXL brings end-to-end agility, making it possible to deploy and scale digital journeys in weeks, not months.”