Hexaware Technologies

Artificial Intelligence Led. Human Intelligence Perfected.

Insurtech Infrastructure Enterprise Public

Overview

Hexaware Technologies is a global IT consulting and services firm that delivers AI-powered digital transformation solutions for insurance carriers, MGAs, brokers, and reinsurers. Founded in 1992 and headquartered in Navi Mumbai, India, the company employs over 33,000 people across 68 offices worldwide, with insurance as one of its primary industry verticals.

The company provides a range of insurance technology services and platforms, including policy administration modernization, underwriting automation, claims processing, and AI-assisted product development. Key proprietary platforms include ParaClaims (a parametric insurance claims automation solution using agentic AI) and Intelligent Product Factory (a no/low-code platform for insurance product development built on Google Cloud with Vertex AI and Gemini). Hexaware also operates a dedicated Duck Creek practice for P&C core system implementation and migration, as well as a Guidewire Migration Acceleration Specialization practice.

Hexaware completed India's largest IT services IPO in February 2025, raising approximately USD 1 billion. The company reported trailing 12-month revenue of USD 1.54 billion as of December 2025. Its insurance client base includes carriers in the UK, the Nordics, and the United States, with one Nordic insurer processing approximately one million claims per year on Hexaware-implemented Guidewire infrastructure.

Products & Services

ParaClaims

AI-powered solution that automates the full lifecycle of parametric insurance claims. Integrates real-time data from weather and environmental data providers including IMD, NOAA, and Google Earth Engine for trigger monitoring. Autonomous AI agents handle trigger detection, data validation, and claims settlement without manual intervention.

Key Features

Agentic AI for autonomous trigger detection and claims settlement
Integration with satellite networks and environmental data sources
End-to-end parametric claims lifecycle automation

Target Users: P&C carriers and specialty insurers offering parametric insurance products

Intelligent Product Factory (IPF)

A no/low-code environment for insurance product development built on Google Cloud. Designed to allow (re)insurers, MGAs, and brokers to design and launch insurance products faster, replacing manual configuration processes with AI-assisted automation powered by Vertex AI and Gemini Enterprise.

Key Features

API-based product configuration and creation
Vertex AI and Gemini Enterprise integration
Supports rapid product iteration for carriers and MGAs

Target Users: Carriers, MGAs, brokers, reinsurers

Duck Creek Practice

A dedicated practice for P&C insurance platform implementation and migration using Duck Creek technologies. Includes a policy and claims migration engine developed specifically for the Duck Creek Suite.

Key Features

Policy and claims data migration for Duck Creek Suite
Implementation and upgrade services
Duck Creek 2022 Innovation Award recipient

Target Users: P&C carriers running or migrating to Duck Creek platforms

Guidewire Services

Advanced Guidewire implementation and migration services. Hexaware holds a Guidewire Migration Acceleration Specialization, awarded in 2026, reflecting expertise in Guidewire platform migrations.

Key Features

Guidewire platform migration and implementation
Claims processing optimization
Online claims monitoring (86% online monitoring achieved for a Nordic insurer client)

Target Users: P&C carriers using or migrating to Guidewire

Core Insurance Services

End-to-end services across the insurance technology stack, including underwriting system modernization, multi-channel FNOL, IoT-driven remote adjudication, fraud detection, digital wallet for claims settlement, and billing and revenue management.

Key Features

Multi-channel FNOL and claims automation
Predictive AI for fraud detection
Legacy application rationalization (documented case: 87% reduction in legacy applications)

Target Users: P&C and specialty carriers

RapidX and Tensai Platforms

RapidX is Hexaware's proprietary platform for agentic AI development and deployment across enterprise applications. Tensai is an enterprise process automation platform used across insurance, financial services, and other industries.

Key Features

Agentic AI workflow development (RapidX)
Enterprise-scale process automation (Tensai)
Applied across insurance claims, policy, and back-office operations

Target Users: Enterprise insurance clients across multiple lines

At a Glance

Founded: 1992
Headquarters: Navi Mumbai, India
Employees: 1000+
Funding: Public

Category & Focus

Category: Insurtech Infrastructure
Subcategories: Claims Technology Core Administration Data & Analytics
Insurance Verticals: P&C Personal P&C Commercial Specialty/E&S Reinsurance Life & Annuity
Target Customers: Carriers, MGAs/MGUs, Brokers, Reinsurers

Customers

Liverpool Victoria Financial Services (UK) -- legacy system automation using Tensai
Leading Nordic insurer -- Guidewire implementation handling approximately 1 million claims per year
Leading UK personal lines insurer -- customer experience transformation
Leading US insurance company -- API modernization and system integration
Fortune 500 insurance company -- automated testing and QA services
Global insurance company -- legacy rationalization from 150+ to fewer than 20 applications