Mumbai (PTI): The Indian Institute of Technology Bombay (IIT Bombay) and SBI Life Insurance have joined hands to set up 'Bharat's AI & Cyber Innovation Hub for Insurance' -- Bharat Innovation Hub --, a joint research and innovation centre to build India's own deep-technology defences for the insurance sector.

As India's insurance landscape evolves, building indigenous, AI-native, and institutionally sovereign cyber defence capabilities has become essential, according to a statement on Monday.

"At IIT Bombay, our endeavour has always been to apply world-class research to challenges that matter to society. Protecting the financial security of millions of citizens is exactly such a challenge. This partnership allows academia to work shoulder-to-shoulder with industry on real-world problems in artificial intelligence, cyber security, and quantum technologies with sovereignty at the core...We are proud to partner with SBI Life in building, from India and for India," Prof. Ganesh Ramakrishnan, Chair Professor, Dept. of CSE, IIT-Bombay and Founding Director, BharatGen, said.

"The next era of value creation in financial services will be led by organisations that don't just consume technology, but actively build it...Through the partnership with IIT-Bombay we are building an indigenous, AI-native foundation that protects every customer who trusts us with their financial future, while strengthening the resilience of the wider insurance industry," SBI Life Insurance, President '“ Operations and IT, Abhijit Gulanikar added.

—

This report was published from a syndicated wire feed. Apart from the headline, the EdexLive Desk has not edited the copy.