The life insurance industry is gaining a powerful new tool to modernize legacy systems and harness artificial intelligence. Equisoft, a global digital solutions provider, has announced an ISV Built On partnership with Databricks. This collaboration creates an integrated analytics platform that combines Equisoft's deep insurance expertise with Databricks' Data Intelligence Platform to help carriers accelerate their digital transformation.
Quick Intel
Equisoft forms an ISV Built On partnership with Databricks.
The integrated platform targets digital transformation for life insurers.
It addresses the high cost of maintaining legacy systems.
The solution combines pre-built insurance models with a scalable data platform.
It enables carriers to progress from basic dashboards to agentic AI.
The partnership helps insurers meet complex regulatory requirements like IFRS 17.
Life insurers face a significant hurdle, often spending up to 70% of their IT budgets simply maintaining outdated legacy systems. This leaves little room for innovation and hinders the ability to become AI-ready. The Equisoft-Databricks partnership directly tackles this challenge by providing a governed, scalable platform that eliminates the need for carriers to build complex custom solutions from scratch. Ghassan Karam, AVP of Core Insurance at Equisoft, stated, "With this solution, those carriers are quickly transformed into AI-capable enterprises without investing the time and resources needed to build their own custom solutions."
The integrated platform is designed to support a wide range of analytical needs, from basic business intelligence dashboards to advanced machine learning and emerging agentic AI applications. By leveraging Databricks' technology, carriers can responsibly unlock the power of their data to drive modernization and improve policyholder outcomes. Marcela Granados, Global Head of Insurance & Professional Services at Databricks, emphasized the strategic importance, saying, "Insurance carriers need to move beyond treating AI as a distant goal and focus on building the data foundations that make building and scaling AI possible." This partnership enables data-driven transformation at scale while ensuring compliance with evolving standards like IFRS 17.
About Equisoft
Founded in 1994, Equisoft is a global provider of advanced insurance and investment digital solutions. Recognized as a valued partner by over 350 of the world's leading financial institutions, Equisoft offers a complete ecosystem of solutions, from innovative front-end applications to extensive back-office services and unique data migration expertise. The firm's flagship solutions include SaaS policy administration, CRM, financial needs analysis, financial planning, asset allocation, fund and portfolio analysis, quotes and illustrations, electronic application, agency management systems, as well as customer, agent and broker portals. With its business-driven approach, deep industry knowledge, innovative technology, and multicultural team of experts based in North America, the Caribbean, Latin America, Europe, Africa, Asia and Australia, Equisoft helps its clients tackle any challenge in this era of digital disruption.
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