Sun Life and IIT Indore are collaborating to revolutionize critical areas in the insurance industry, addressing risk assessment, claims processing, and customer segmentation. By integrating advanced technology, Sun Life aims to enhance client experiences while developing a skilled workforce proficient in technological demands within the global capability center (GCC) sector. IIT Indore students will gain practical experience through hands-on data analysis, problem-solving, and internships at Sun Life Global Solutions, thereby enhancing their employability prospects significantly.
A key objective of this partnership is to create a talent pipeline tailored to address the emerging challenges within the insurance industry. Sun Life will share its extensive expertise with IIT Indore, facilitating the development and testing of innovative algorithms and models by students and researchers. This collaboration is particularly vital given the growing influence of GCCs in India, especially among insurance and BFSI companies, which drive innovation and technological advancement in critical areas.
According to Suhas S. Joshi, director of IIT Indore, collaborating with GCCs such as Sun Life Global Solutions will strengthen a culture of innovation and build a robust talent pool poised to meet future industry needs. Tarun Sareen, MD of Sun Life Global Solutions, emphasized the partnership’s potential to accelerate the development of cutting-edge solutions in AI, cloud computing, and other emerging technologies. This collaboration aims to set new industry standards and drive growth in areas like claims prevention and biometrics, ultimately transforming the insurance landscape.
Additionally, Sun Life President Kevin Strain is scheduled to deliver a keynote address at Insurtech Insights Asia 2024 in Hong Kong. His focus will be on redefining insurance in Asia by leveraging leadership, strategy, and purpose for the new era. This keynote, moderated by Insurtech Insights CEO Kristoffer Lundberg, will offer further insights into the evolving dynamics of the insurance sector.
Overall, the Sun Life and IIT Indore partnership aims to advance innovation in the insurance industry. It will provide IIT Indore students with invaluable industry experience, creating a skilled workforce ready to tackle future challenges with cutting-edge solutions. The collaboration sets a precedent for how industry-academic partnerships can lead to significant advancements and foster a culture of continuous innovation.