Mphasis partners with US-based AI underwriting firm; check all details

Mphasis on Monday, June 16, announced a “strategic” partnership as an implementation partner with a New York-based AI underwriting firm, Sixfold.

The Bengaluru-based IT company will integrate Sixfold’s AI platform to help insurer accelerate their underwriting process, including “speeding up submission intakes and equipping insurers with contextual risk insights they need to make faster, more confident decisions,” Mphasis said in a press release.

According to the statement, Mphasis plans to streamline underwriting processes, enhance operational efficiency and drive intelligent decision-making for insurers, using Sixfold’s AI technology.

Commenting on the partnership, Srikumar Ramanathan, Chief Solutions Officer at Mphasis, said: “Mphasis is excited to partner with Sixfold to accelerate AI adoption in the insurance industry. By leveraging Sixfold’s AI expertise in combination with expertise from Mphasis.ai and our insurance technology capabilities, we are able to deliver advanced, data-driven automation solutions for global insurers, driving efficiency, accuracy, and innovation across the insurance value chain.”

Sixfold’s platform is already in production at market-leading carriers, the press release added.

Alex Schmelkin, Founder & CEO of Sixfold, said: “Sixfold was built to solve real problems for underwriters—and to make the entire process better for brokers and customers.”

“That means making implementation simple and fast. Mphasis has a great track record of getting technology live inside real-world insurance workflows. With them, insurers can move quickly, see impact fast, and do it all without adding extra work to their teams. That’s a win for everyone involved,” Schmelkin further stated.

Mphasis stock performance

Shares of Mphasis closed in the green at ₹2,707.4 apiece, up 2.39% on the National Stock Exchange (NSE) on Monday. However, the announcement was made after the market had closed.

The stock gained 3.89% over the past week and 5.81% since the beginning of June. It has surged 8.29% so far this quarter but lost 4.91% on a year-to-date basis.

Mphasis’ total market capitalisation stood at ₹51,458.42 crore, as of June 16, 2025, according to NSE data.