Coforge Limited (NSE: COFORGE), a global digital services and solutions provider, announced a collaboration with Microsoft to establish the Coforge Copilot Innovation Hub. The Hub will focus on developing a pipeline of new industry specific generative AI solutions and will work closely with Microsoft to integrate these solutions with Microsoft’s generative AI products and technologies, including Microsoft Azure OpenAI Service, Microsoft Power Platform, and Microsoft Copilot.
As part of the Copilot Innovation Hub, Coforge announced the availability of two new copilots: Underwriter Copilot for insurance carriers and Advisor Copilot for financial services organizations. The Underwriter Copilot for Insurance is an innovative solution designed to empower insurance underwriters with informed decision-making capabilities and enhanced control, offering a pathway to better ROI and a seamless approach to navigating the complexities of underwriting. The solution focuses on improving combined ratios for carriers by two to three percent, unlocking new revenue opportunities. By using Underwriter Copilot, insurance carriers can increase their underwriter productivity and efficiency by 30-35 percent.
The Coforge Advisor Copilot solution allows financial advisors to access comprehensive fund information and performance data swiftly through a user-friendly interface, eliminating the need for time-consuming searches across various tools, documents, and data sources. The solution is intended to increase the productivity of financial advisors and asset managers by more than 30 percent.
“Coforge is taking advantage of its deep industry strengths and customer partnerships in building industry specific generative AI solutions on the Microsoft platform to drive transformation and enhance productivity,” said Sudhir Singh, Executive Director & CEO of Coforge. “This collaboration with Microsoft will further accelerate our efforts to deliver industry leading generative AI solutions to our customers. We are today introducing two new copilots: Underwriter Copilot for insurance carriers and Advisor Copilot for financial services organizations,” he further added.
“The Coforge Copilot Innovation Hub is a testament to our joint commitment to transform and scale organizational capabilities of financial services organizations worldwide. The use of generative AI has nearly doubled in the last six months, with 75% of people using AI at work, according to the 2024 Work Trend Index Annual Report. Together, Coforge and Microsoft are committed to leading the way in AI adoption, driving innovation, and unlocking business value for enterprises globally,” said David Smith, Vice President, WW Channel Sales, Microsoft.
These copilots will use Microsoft’s generative AI products and technologies to enhance productivity by automating manual tasks, improve decision-making by making recommendations based on enterprise data, and improve operational efficiency by streamlining and optimizing business processes. These solutions will accelerate transformation and create new value streams for clients.
The Coforge Copilot Innovation Hub will enable frictionless adoption of Microsoft’s generative AI offerings for greater efficiencies and superior business outcomes.