Xceedance Invests in Friendly to Advance AI Adoption in Life & Health Insurance and Reinsurance

Collaboration strengthens AI-powered efficiencies across underwriting, claims, and risk management

BOSTON, MA, UNITED STATES, March 26, 2025 /EINPresswire.com/ -- Xceedance, a global provider of insurance-focused consulting, technology, operations, and data solutions, has made a strategic investment in Friendly, an artificial intelligence (AI) company focused on life & health (L&H) underwriting, claims management, and risk assessment processes.

Friendly’s flagship platform transforms complex medical and third-party data into structured, AI-ready insights, for life, disability, long-term care (LTC), critical illness (CI), casualty, and reinsurance underwriters assessing risk.

The investment underscores the commitment of Xceedance to supporting L&H and reinsurance clients with cutting-edge technologies that address evolving market needs. By aligning with Friendly, Xceedance will help accelerate the deployment of AI solutions that improve operational efficiency and decision-making for global insurers.

“Xceedance brings transformative solutions to the insurance industry,” said Arun Balakrishnan, CEO of Xceedance. “Friendly’s AI-driven technology stands out for its ability to enhance underwriting and claims decisions with speed, accuracy, and security. This investment reflects the shared vision of Xceedance and Friendly to make life and health insurance operations more intelligent and efficient, and we look forward to collaborating on innovations that will benefit our clients worldwide.”

“Friendly empowers underwriters, claim teams, and internal data science teams with AI-driven insights that simplify complex decision-making,” said Natasha Alexeeva, CEO of Friendly. “By partnering with Xceedance, we are gaining a strong strategic ally that understands the evolving needs of insurers. Together, we will advance our platform’s capabilities and expand into the L&H market, offering reinsurers and their primary clients cutting-edge AI solutions that improve operational efficiency.”

Both companies are planning additional joint initiatives, with further announcements expected later this year. As Xceedance and Friendly collaborate, the focus will remain on advancing AI applications across the insurance lifecycle, supporting underwriters, claims professionals, and reinsurers with intelligent, efficient solutions.

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About Xceedance
Xceedance delivers insurance-focused consulting, technology, operations support, and data solutions to many of the world’s largest P&C insurance organizations. With 4,000+ team members across the Americas, EMEA, and APAC, Xceedance blends deep insurance domain expertise with AI and next-generation technologies to provide localized services and digital-first platforms. The company supports 250+ clients, including commercial, personal, and specialty lines re/insurers, mutuals, program administrators, brokers and agents, and Lloyd’s of London entities, to navigate market challenges and drive business growth.

About Friendly
Headquartered in San Francisco, California, Friendly transforms data quality, transparency, and accessibility with artificial intelligence (AI) solutions designed to streamline decision-making in insurance and financial services. More than just a digitization tool, Friendly’s enterprise AI platform synthesizes complex medical and third-party data—including Irix Intelliscript, financial records, prescription histories, and lab reports—into structured, AI-ready insights that enable underwriters to assess risk in minutes rather than days.

Friendly’s scalable, extensible deep learning technology automates data analysis from structured and unstructured sources, generates targeted summary reports, auto-adjudicates claims, and supports straight-through processing (STP) for new business. By applying these capabilities beyond underwriting, the platform also powers solutions such as reinsurance treaty summarization, helping insurers and reinsurers efficiently navigate vast volumes of complex legal agreements.

With expertise in life, disability, long-term care (LTC), casualty, and reinsurance, Friendly has built a platform that “speaks insurance,” empowering underwriters, data scientists, and claims managers to make faster, more accurate decisions. The company’s marquee clients include PPS and Group Health, as well as the world’s leading reinsurance firms, Swiss Re, Munich Re, and Gen Re.

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