Equisoft, a leading provider of digital solutions for the financial services sector, has announced a new ISV Built On partnership with Databricks, the Data and AI company. Together, they aim to accelerate digital transformation in the life insurance industry by creating an integrated analytics platform that will help insurance carriers modernise legacy systems and leverage artificial intelligence (AI).
The partnership combines Equisoft’s extensive life insurance expertise, developed over three decades, with Databricks’ advanced Data Intelligence Platform. The solution seeks to address the challenge faced by insurance carriers, who often allocate up to 70% of their IT budgets to maintaining outdated systems, while struggling to adopt AI technologies.
“By integrating Databricks’ Data Intelligence Platform with Equisoft’s insurance-specific analytics tools, carriers can now benefit from a scalable, governed platform that supports everything from basic dashboards to sophisticated machine learning and emerging AI applications,” explained Ghassan Karam, AVP of Core Insurance at Equisoft. “This is particularly valuable for carriers managing diverse products, distribution channels, and regulatory requirements across multiple regions. With this solution, they can quickly become AI-capable without the need for substantial custom development.”
Marcela Granados, Global Head of Insurance & Professional Services at Databricks, added, “Insurance carriers need to move beyond viewing AI as a distant goal and focus on building the data foundations necessary for scaling AI. The Databricks Data Intelligence Platform empowers carriers to unlock the potential of data and AI, driving modernisation, meeting evolving regulations, and improving outcomes for policyholders. Through this partnership, Equisoft can help speed up innovation and enable data-driven transformation across the insurance ecosystem.”
This collaboration aims to accelerate AI adoption, reduce operational costs, and ensure compliance with standards such as IFRS 17.