Equisoft and Databricks pair up to make AI-ready analytics practical for life insurers
PHILADELPHIA and MONTREAL - Equisoft announced an ISV Built On partnership with Databricks that brings an integrated analytics platform to life insurance carriers. The goal: reduce the strain of legacy maintenance and move carriers onto governed, scalable data foundations that make AI real and repeatable.
The pairing combines Equisoft's three decades of life insurance expertise and pre-built insurance models with the Databricks Data Intelligence Platform. For carriers that still spend up to 70% of IT budgets keeping aging systems alive, this is a path to modern analytics and agentic AI without building everything from scratch.
Why this matters for carriers
- Shift spend from maintenance to growth: Free up budget trapped in legacy operations and redirect it to analytics, automation, and customer experience.
- Make AI feasible: Move from siloed data and point tools to a governed platform that supports dashboards, machine learning, and agentic AI in one place.
- Handle product and channel complexity: Pre-built insurance models help standardize data across multiple products, distribution networks, and jurisdictions.
- Meet regulatory demands: Build data lineage, auditability, and controls that support frameworks such as IFRS 17.
What the integrated platform delivers
- Insurance-ready data models and metrics curated by Equisoft.
- A unified, governed analytics layer on Databricks for reporting, ML, and AI applications.
- Scalability for large policy blocks, granular history, and high-volume transactions.
- Security and governance to manage sensitive customer and financial data across markets.
- A faster route to AI capability without the long timelines and cost of custom builds.
High-impact use cases to start with
- IFRS 17 and financial reporting: Standardized data pipelines, audit trails, and reconciliations.
- Experience studies: Mortality, lapse, and expense analysis with consistent, reusable datasets.
- Underwriting triage and risk signals: ML-driven prioritization and straight-through opportunities.
- Claims analytics: Severity prediction, fraud flags, and cycle-time reduction.
- Distribution intelligence: Producer performance, channel profitability, and next-best actions.
How to move forward (without boiling the ocean)
- Baseline the cost of legacy maintenance and pick 1-2 workloads to migrate first (e.g., IFRS 17 reporting or experience studies).
- Stand up a governed, insurance-specific data layer with clear ownership and data quality SLAs.
- Publish a short list of reusable data products (policy, claim, producer, ledger) with definitions and access controls.
- Launch one AI pilot that matters to the business-then templatize it for the next line of business.
- Build a simple operating model: data stewardship, model monitoring, PII security, and periodic audits.
According to Equisoft leadership, the combined approach gives carriers a governed environment that scales from basic dashboards to advanced machine learning and agentic AI. Databricks leadership emphasizes the need to stop treating AI as a distant idea and instead build the data foundations that make AI perform at scale-while meeting evolving regulatory requirements.
What this means for CIOs, CFOs, and Chief Actuaries
- CIO: A clear migration path that reduces technical debt and consolidates tooling.
- CFO: Tighter control over financial data, auditability, and compliance reporting.
- Chief Actuary: Consistent, trusted data for pricing, valuation, and capital insights.
- Distribution and Operations: Faster feedback loops and data-driven decisions across channels.
About Equisoft
Founded in 1994, Equisoft provides digital solutions across insurance and investments, serving 350+ financial institutions worldwide. Their portfolio spans SaaS policy administration, CRM, financial needs analysis, planning tools, asset allocation, fund and portfolio analysis, quotes and illustrations, e-app, agency management, and portals for customers, agents, and brokers.
Equisoft brings deep domain expertise, data migration capabilities, and a multicultural team operating across North America, the Caribbean, Latin America, Europe, Africa, Asia, and Australia. Learn more at equisoft.com.
Useful reference
- IFRS 17 overview (IFRS Foundation): IFRS 17 - Insurance Contracts
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