Hexaware Technologies (NSE: HEXT), a global IT solutions and services provider, has announced the launch of two cutting-edge insurance solutions developed exclusively for Google Cloud. This move strengthens Hexaware's partnership with Google and showcases their shared commitment to accelerating digital transformation in the insurance industry through automation, AI, and scalable cloud-native architectures.

Advanced Insurance Solutions

Hexaware's new offerings include:

1. Parametric Claims Solution: This platform automates the entire lifecycle of parametric insurance claims, integrating real-time data from trusted sources such as IMD, NOAA, global satellite networks, and Google Earth Engine for continuous environmental monitoring. Utilizing AI agents and the Agent-to-Agent Protocol, the solution can autonomously handle trigger detection, data validation, and claims settlement, reducing settlement timelines from weeks to mere hours.

2. Intelligent Product Delivery Platform: This AI-assisted, no/low-code environment reimagines the insurance product delivery lifecycle. It empowers brokers, (re)insurers, and MGAs to transition from rigid, manual processes to a more flexible innovation hub with API-based integration. Powered by Vertex AI and Gemini Enterprise, the platform enables autonomous creation and configuration of new insurance products directly from natural-language prompts and unstructured documentation.

Key Features and Benefits

Industry Impact

Shantanu Baruah, President & Global Head of Healthcare, Life Sciences & Insurance at Hexaware, emphasized that these solutions are designed to help brokers, (re)insurers, and MGA firms modernize critical parts of their value chain through automation and intelligence.

Christina Lucas, Global Director & Market Leader for Insurance at Google, expressed excitement about the collaboration, stating that it enables industry players to operate with greater speed, transparency, and agility.

Future Outlook

The launch of these solutions is part of Hexaware's broader program to develop cloud-first capabilities supporting the future of insurance operations. As the partnership between Hexaware and Google Cloud continues to deepen, we can expect more innovative solutions that address the evolving needs of the insurance industry.

This development marks a significant step forward in the digital transformation of the insurance sector, promising to streamline operations, improve efficiency, and enhance the overall customer experience in insurance product delivery and claims management.

Hexaware Technologies has announced robust financial results for the third quarter of 2025, along with a strategic acquisition to enhance its cybersecurity offerings. The global IT solutions provider continues to demonstrate resilience and growth in a challenging macroeconomic environment.

Q3 2025 Financial Highlights

Hexaware reported impressive year-over-year growth in its Q3 2025 results:

The company's revenue growth in constant currency terms stood at 5.20% year-over-year and 3.40% quarter-over-quarter.

Segment Performance

Hexaware's performance varied across different verticals:

• Financial Services: Led growth with a 12.20% year-over-year increase
• Healthcare and Insurance: Showed strong performance with 9.40% year-over-year growth
• Manufacturing and Consumer: Grew by 8.00% year-over-year
• Banking: Increased by 9.90% year-over-year
• High Tech and Professional Services: Faced challenges with a 10.10% year-over-year decline

Strategic Acquisition: CyberSolve

In a significant move to bolster its cybersecurity capabilities, Hexaware announced the acquisition of CyberSolve, a specialist in identity and access management (IAM) solutions. The acquisition, valued at $66.00 million, includes an upfront payment of $34.50 million and performance-linked earnouts of up to $31.50 million.

CyberSolve brings to Hexaware:

• 230+ IAM specialists
• 20+ IAM technology alliances
• 650+ implementations across various sectors

This strategic acquisition positions Hexaware as a full-spectrum cybersecurity partner, tapping into the rapidly expanding IAM market, which is expected to reach approximately $100 billion by 2033.

Management Commentary

R. Srikrishna, CEO of Hexaware, stated, "We delivered solid growth in a difficult macro. More importantly, we continue to invest in our future on several dimensions. We acquired specialist capability in IAM through CyberSolve, created a new vertical in Technology, Products and Platforms with a talented new leader, and launched multiple new domain offerings in AI."

Vikash Jain, CFO, added, "I am pleased to report an EBITDA of 17.5% for the quarter, reflecting a 30 bps improvement quarter-on-quarter, driven by disciplined operational efficiencies. Our strong cash generation continues, with OCF to EBITDA conversion at 80% on an LTM basis."

Operational Metrics

• Closing headcount: 33,590, with a net addition of 1,054 employees over the last twelve months
• Voluntary attrition rate for IT: 11.40%
• Utilization rate for IT: 83.80%
• Days Sales Outstanding (DSO): 73 days, with billed DSO at 37 days

Outlook

While Hexaware has not provided specific forward-looking guidance, the company's strategic moves, including the CyberSolve acquisition and investments in AI capabilities, indicate a focus on long-term growth and market positioning. The company's ability to maintain strong margins and cash generation in a challenging environment suggests resilience in its business model.

Investors and analysts will be watching closely to see how Hexaware leverages its new cybersecurity capabilities and navigates the evolving tech landscape in the coming quarters.