Shares of Hexaware Technologies Ltd surged 4.5% to touch a day’s high of Rs 692.60 on 12th November. This rise occurred after the company announced the launch of two new insurance solutions in partnership with Google Cloud.

In an exchange filing, Hexaware Technologies said its new advanced insurance solutions are built specifically for Google Cloud. This strengthens its partnership with Google to drive digital transformation in the insurance sector using automation, AI, and cloud-based systems.

The IT services company has introduced a parametric claims solution that automates the entire insurance claims process. It uses real-time data from trusted sources, including the IMD, NOAA, global satellite networks, and Google Earth Engine. These are used for continuous environmental monitoring.

Built on the Agent-to-Agent Protocol, the platform employs self-governing AI agents for trigger detection, data validation, and claims settlement. This reduces processing time from weeks to just hours.

According to Hexaware’s President and Global Head of Healthcare, Life Sciences, and Insurance, Shantanu Baruah, the new solutions will help insurers, brokers, and MGAs modernise key areas. This includes claims and product development through automation and intelligence.

Christina Lucas, Global Director and Market Leader for Insurance at Google, said the partnership aims to bring Google Cloud’s data and AI strengths to the insurance sector. This begins with the launch of the “Intelligent Product Factory (IPF)” and “ParaClaims” solutions.

At 2:22 PM, shares of Hexaware Technologies were trading 4.24% higher at Rs 691.55 on NSE.

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