ForaySoft Teams Up with ES Search Consultants to Launch AI Modules for Insurance Claims and Risk Management
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In a significant development poised to elevate the insurance industry, ForaySoft, a Hyderabad-based international consulting and systems integration firm, has joined forces with US-based ES Search Consultants. Together, they are set to launch a series of modular AI-enabled technology components designed to streamline and enhance crucial insurer operations.
This strategic alliance will bring practical AI solutions directly to insurers, focusing on effortless integration into existing technological frameworks. The initial suite of modules offers specialized capabilities for claims and risk management, including:
- Intelligent Claims Processing: Smart automation for intake and triage, accelerating claim resolution.
- Next-Gen Risk Scoring: Advanced engines utilizing structured and behavioral data for superior risk assessment.
- Fraud Pattern Identification: Intuitive tools designed to integrate with SIU workflows for effective fraud detection.
Madhu Koneni, President of ForaySoft’s technology division, stated, “Our objective is to deliver AI-driven insurance tech that can be directly embedded into carriers’ operational systems. These task-specific tools are built for underwriters, adjusters, and fraud teams, aiming to deliver greater efficiency, agility, and customer trust in today’s competitive landscape.”
The initiative directly supports ForaySoft’s mission to leverage AI for industry transformation. The company is committed to expanding its AI Center of Excellence in Hyderabad and initiating pilot programs with key insurance clients across India, the US, and the Middle East during FY 2025-26.
Vasu Babu Vajja, Managing Director of ForaySoft, commented, “This collaboration signifies ForaySoft’s dedication to blending deep domain expertise with pioneering AI innovation. We are excited to grow our AI Center of Excellence and roll out pilot programs with select insurance clients worldwide.”
ForaySoft is actively growing its AI expertise. It plans to hire 100 additional professionals for its engineering and delivery teams, adding to its current cadre of over 40 AI specialists.
The competitive advantage gained by adopting AI in the insurance sector is substantial. A McKinsey report indicates that AI leaders in insurance have outperformed their peers by generating 6.1 times the Total Shareholder Returns (TSR) over the last five years.
About ForaySoft: Founded in 2011, ForaySoft is a prominent Hyderabad-based global technology and consulting firm. Having delivered over 300 projects across six countries, supported by 3,000+ professionals and 50+ development teams, ForaySoft excels in modernizing enterprise operations with scalable, industry-specific solutions.
About ES Search Consultants: ES Search Consultants, based in the US, offers AI-driven insurance technology solutions and expert advisory services, partnering with insurers to seamlessly embed practical, value-driven tools into their existing systems.
Disclaimer: No Business Standard Journalist was involved in creation of this content
Topics : OpenAI
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First Published: Sep 18 2025 | 4:52 PM IST
