InsurTech NY: Teqfocus on Practical AI

At InsurTech NY, Sudarshan Jagannathan from Teqfocus explains why the focus in insurance technology should be on practical, smaller improvements rather than large-scale transformation alone.

Jagannathan says that while there is a strong industry push around AI and digital transformation, many organisations are still trying to understand where real value can be found. Instead of focusing only on large initiatives, Teqfocus looks at specific areas where smaller changes can make a meaningful difference.

He points to examples such as customer onboarding, claims intake, and first notice of loss.

These are areas where targeted improvements can simplify processes and improve the overall customer experience. Jagannathan explains that even in large organisations, addressing smaller use cases can deliver immediate benefits without requiring major system overhauls.

He adds that part of Teqfocus’ role is helping IT teams understand where to invest.

This includes identifying where AI can add value, as well as where traditional technology may still be the better solution. According to Jagannathan, organisations need clear guidance on how to prioritise spending and avoid overcommitting to large, complex projects.

At InsurTech NY, he says the goal is to connect with customers and prospects who are looking for practical ways to implement digital transformation.

Jagannathan also highlights broader trends across the industry.

On the front end, there is a strong focus on improving customer experience, making processes such as onboarding and claims handling more seamless. On the back end, there is increasing attention on managing IT spend and delivering value efficiently.

He notes that there is also growing interest in enabling employees with better tools and understanding how AI can support their work, rather than replace it.

Overall, Jagannathan’s perspective is that progress in insurance technology does not always come from large, disruptive changes, but from consistent improvements in key areas.