Since its launch two years ago, Edelweiss General Insurance has garnered close to 10 lakh customers, focussing mostly on the healthcare and automotive insurance segments.
The Mumbai based company, which says its entire operations are cloud native, believes its newly launched API gateway will help partners integrate their systems with its technology platform, with lower cost of integration and faster deployment of new products. The API gateway is among several initiatives at the company as it accelerates its digital drive during the pandemic.
Edelweiss General Insurance is part of homegrown investment and financial services company Edelweiss Group.
In an interview with TechCircle, Shanai Ghosh, CEO and executive director of Edelweiss General Insurance, spoke about the technology roadmap at the insurer, including creation of AI (artificial intelligence) algorithms for claims processing, API growth as well as the security protocols.
Apart from the API gateway, EGI is also working on consolidating its data lake and now plans to build AI/ML algorithms and solutions that can provide better insights and services to its customers.
The company has on boarded Sagemaker, the machine learning platform of AWS to take the data crunching forward.
“We've implemented a data lake, which is one of the first foundations for creating and adopting new AI/ML techniques,” Ghosh told TechCircle.
Ghosh has previously been a part of companies like CitiBank, Tata AIG Life Insurance, Reliance Nippon Life Insurance, and AU Small Finance Bank.