 "LTIMindtree & Eurolife FFH partner to setup GenAl hubs in Europe, India")
IT services company LTIMindtree on Wednesday signed a Memorandum of Understanding (MoU) with European insurance major Eurolife FFH to establish Generative Artificial Intelligence (GenAI) and digital hubs in Athens, Greece, along with other dedicated facilities in Poland, Europe and India.
"Our collaboration with Eurolife FFH forms a crucial part of our strategic roadmap, aimed at driving transformative growth for businesses by unlocking the true potential of GenAI,” said Sudhir Chaturvedi, President and Executive Board Member, LTIMindtree.
“By merging LTIMindtree’s innovation capabilities with Eurolife FFH’s domain expertise, we are staging a platform for an accelerated adoption of new technologies to address the industry’s most pressing challenges, while establishing new benchmarks in both domestic and international markets,” he added.
As a part of the partnership, Eurolife FFH will set up GenAI and Digital Hub in Athens to develop solutions for its insurance businesses in Greece, while LTIMindtree will provide domain expertise and support from its dedicated facilities in Poland and Mumbai.
Further, professionals from both companies will jointly undergo specialised training in GenAI and digital transformation to develop cutting-edge products and services, according to a press release.
Talking about the partnership, Alexandros Sarrigeorgiou, CEO, Eurolife FFH, said, "This partnership is aligned with our ambition of leveraging the power of advanced technology to deliver innovation for our customers and partners.
“Our goal is to innovate; specifically in the insurance space, and push boundaries to create solutions that meet evolving needs of customers across various other industries,” Sarrigeorgiou added.
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The MoU was signed by representatives from both companies in the presence of Kyriakos Mitsotakis, Prime Minister of Greece, at the residence of the Greek Ambassador in New Delhi.
“The announcement aligns with the Government of India’s newly introduced 'Anusandhan' scheme, aimed at catalysing innovation and research within the technology and startup ecosystem,” said the companies in a press release.
LTIMindtree, a global technology consulting and digital solutions company under the Larsen & Toubro Group, has more than 82,000 professionals across 30 countries and provides services to around 700 clients across the globe.