MUMBAI, India & ATHENS, Greece - Wednesday, 21. February 2024 AETOSWire
The multi-million-dollar partnership will enable widespread adoption of AI and digital solutions across insurance, banking, shipping, and manufacturing industries
(BUSINESS WIRE) -- LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, today signed a Memorandum of Understanding (MoU) with Eurolife FFH, a leading insurance company in Athens, Greece powered by Fairfax Digital Services, to establish first-of-its-kind Gen AI and Digital Hub in Athens and dedicated facilities in Poland, Europe and Mumbai, India.
The MoU was signed by Sudhir Chaturvedi, President and Executive Board Member, LTIMindtree, Alexandros Sarrigeorgiou, Chairman & CEO, Eurolife FFH Insurance Group and Sanjay Tugnait, President & Chief Executive Officer, Fairfax Digital Services, in the presence of Kyriakos Mitsotakis, Prime Minister of Greece at the residence of Greek Ambassador in Delhi. This announcement also aligns with the Government of India’s newly introduced "Anusandhan" scheme, aimed at catalyzing innovation and research within the technology and startup ecosystem.
As a part of this association, Eurolife FFH will set up Generative AI and Digital Hub in Athens to develop innovative solutions for insurance businesses in Greece and LTIMindtree will provide deep domain expertise and support from its dedicated facilities in Poland and Mumbai. Professionals from both the companies will jointly undergo specialized training in Generative AI and Digital Transformation to develop cutting edge products and services that will enhance customer experience and operational efficiency for businesses across insurance, banking, shipping, and manufacturing industries.
Alexandros Sarrigeorgiou, CEO of Eurolife FFH, said, "This partnership is aligned with our ambition of leveraging the power of advanced technology to deliver innovation for our customers and partners. Our goal is to innovate; specifically in the insurance space, and push boundaries to create solutions that meet evolving needs of customers across various other industries. This collaboration is a step towards a future where Gen AI and digital innovation will drive business success and enhance customers’ experience.”
Sudhir Chaturvedi, President and Executive Board Member, LTIMindtree, said, "Our collaboration with Eurolife FFH forms a crucial part of our strategic roadmap, aimed at driving transformative growth for businesses by unlocking the true potential of Gen AI. By merging LTIMindtree’s innovation capabilities with Eurolife FFH’s domain expertise, we are staging a platform for an accelerated adoption of new technologies to address the industry’s most pressing challenges, while establishing new benchmarks in both domestic and international markets.”
Sanjay Tugnait, President, and CEO of Fairfax Digital Services, said, "As Greece and India unite in establishing a Gen AI and Digital Hub, our collaboration transcends borders and algorithms. Together, we engineer a convergence of technological prowess, laying the foundations for creating leading edge industry solutions to enable revenue generation and cost optimization for businesses with a focus on enhancing customer experience. This partnership exemplifies the fusion of diverse cultures and shared visions, which will shape the future landscape of artificial intelligence and digital transformation.”
About LTIMindtree:
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies. As a digital transformation partner to more than 700 clients, LTIMindtree brings extensive domain and technology expertise to help drive superior competitive differentiation, customer experiences, and business outcomes in a converging world. Powered by 82,000+ talented and entrepreneurial professionals across more than 30 countries, LTIMindtree — a Larsen & Toubro Group company — combines the industry-acclaimed strengths of erstwhile Larsen and Toubro Infotech and Mindtree in solving the most complex business challenges and delivering transformation at scale. For more information, please visit https://www.ltimindtree.com/.
About Eurolife FFH:
Eurolife FFH aspires to be right by the people, designing insurance products that respond to every need they have. Member of Fairfax Financial Holdings Ltd., it is one of the top organizations in the Greek insurance sector. It offers integrated insurance solutions for individuals and companies that cover every aspect of life and business activity. Eurolife FFH has a broad network of insurance partners all over the country and works with them closely, in order to support its customers so that they can achieve more every day. Eurolife FFH aims to be a catalyst for positive change not only through its insurance products and services, but also through important initiatives that contribute to sustainable development. Having people in the epicentre, it designs and supports purposeful actions that focus on low birth rate and quality of life in remote areas, gender equality and inclusion, culture, entrepreneurship, etc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240220139123/en/
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Contacts
Media Contact: Shambhavi Revandkar | shambhavi.revandkar@ltimindtree.com
Media Contact: Eleni Lamboura | elamboura@eurolife.gr
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