Insurance
AI-Driven Insurance Systems, Built for IRDAI Compliance
India's insurance sector carries $127 billion in annual premiums and a 3.71% penetration rate — meaning most of the market remains unserved. IRDAI's digital transformation directives and IIB data reporting mandates are accelerating the shift to modern core systems. Claims still take weeks when they should take days. Underwriting decisions still rely on manual review when AI can improve speed and accuracy simultaneously.
ITMTB builds AI underwriting support, claims automation, and cloud-native insurance infrastructure — designed for IRDAI compliance and IIB data reporting requirements from the architecture phase, not as a retrofit.
Talk to us →ITMTB builds AI underwriting support, claims automation, and cloud-native insurance infrastructure — designed for IRDAI compliance and IIB data reporting requirements from the architecture phase, not as a retrofit.
Selected work in insurance
Clients we've worked with
Landscape and Opportunities
- $127 billion Total insurance premiums written in India — a market large enough to justify significant technology investment.
- 10% CAGR Consistent sector growth driven by rising awareness and digital adoption — compressing the window for modernisation.
- 3.71% Insurance penetration in India — the gap between current and potential represents the growth available to operators who modernise first.
Technology as a Catalyst for Change
AI Underwriting and Decision Support
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Claims Automation
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Cloud-Native Core Infrastructure
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IRDAI Compliance and IIB Data Reporting
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IoT and Telematics: The Next Data Layer
Connected vehicles, wearables, and smart home devices are generating the data that makes usage-based insurance viable at scale. We build the data pipelines that ingest telematics and IoT streams, normalise them into policy-relevant signals, and feed them into underwriting and pricing models — creating products that price risk accurately rather than by demographic proxy.
Why ITMTB for Insurance?
For a global intelligence and risk consulting firm, we deployed four production AI models — automating third-party risk reports, document analysis, and business intelligence workflows — with minimal human input. The same AI architecture applies directly to insurance underwriting automation and claims triage. We design for IRDAI compliance and IIB data reporting requirements from the start, not as an afterthought.
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How an engagement works
No open-ended retainers. Every engagement starts with a bounded, fixed-price discovery.
01
Discovery sprint
2 weeks, fixed price. We scope the problem, audit your data, and produce a written roadmap, cost estimate, and risk register. You decide whether to proceed — no commitment beyond the sprint.
02
Build
Fixed-scope first phase or time-and-materials with a cap. Production-grade code, not a prototype. Delivered into your cloud environment with tests, monitoring, and handoff documentation.
03
Operate
4–8 week warranty period post-handoff. Bugs and regressions fixed at zero cost. Ongoing ops available — we don't disappear after delivery.