LTIMindtree, Eurolife FFH to set up Gen AI hubs in Europe and India

(L-R) Alexandros Sarrigeorgiou, Chairman & CEO, Eurolife FFH Insurance Group, Sanjay Tugnait, President & Chief Executive Officer, Fairfax Digital Services, Sudhir Chaturvedi, President, and Executive Board Member, LTIMindtree at the residence of Greek Ambassador in Delhi.

Indian IT service firm LTIMindtree and Eurolife FFH, a Greek insurance company, signed a Memorandum of Understanding (MoU) on February 21 to set up a Gen Al and digital Hub in Athens and dedicated facilities in Poland and Mumbai.

Eurolife FFH, which is powered by Fairfax Digital Service, will establish the Generative AI and digital hub in Athens, which will be dedicated to crafting innovative solutions tailored for the insurance industry in Greece, the two companies said in a release.

LTIMindtree will contribute its domain expertise and support from specialised facilities in Poland and Mumbai.

Professionals from both companies will undergo joint training in generative AI and digital transformation, which will empower them to create products and services to enhance customer experiences and operational efficiency across diverse industries, including insurance, banking, shipping, and manufacturing.

This collaboration aligns seamlessly with the Government of India’s recently introduced "Anusandhan" scheme, which is aimed at catalysing innovation and research within the technology and startup ecosystem.

Alexandros Sarrigeorgiou, CEO of Eurolife FFH, said their aim is to utilise advanced technology for innovation in the insurance sector and beyond, making this partnership a key step toward that goal.

Sudhir Chaturvedi, President and Executive Board Member, LTIMindtree, said partnering with Eurolife FFH is a vital part of the company’s strategic plan, focused on achieving transformative growth through harnessing the full potential of Gen AI.