Mini George, executive director, AIC, is receiving 29th Asia Insurance Awards 2025 in Singapore
AIC has developed SEWANxt, a flagship next -generation Core Insurance Solution built entirely in-house by its Software Development Group
New Delhi: State owned Agriculture Insurance Company(AIC) has been awarded at the 29th Asia Insurance Awards 2025 in Singapore for“Technology Initiative of the Year ‘.
AIC has got the Asian recognition for developing SEWANxt, a flagship next -generation core insurance solution built entirely in-house by its Software Development Group.
The other contenders for the prestigious award were Singapore based insurtech bolttech and Hong Kiong based FuSure Reinsurance Company Limited.
Mini George, executive director, AIC, has received the award at an event organised during the 21st Singapore International Reinsurance Conference(SIRC) held during the week.
The initiative platform,SEWANxt, has revolutionised the delivery of agricultural and allied insurance across in India, addressing the complex challenges of the country’s agri-risk insurance landscape through a unified, modular and end-to end digital ecosystem.
The IT tool provides comprehensive capabilities spanning underwriting , claims processing, financial management, grievance redressal and legal and internal audit compliances ensuring a robust and efficient insurance framework.
The platform powers AIC’s implementation of government’s flagship crop insurance schemes ,including Pradhan Mantri Fasal Bima Yojana(PMFGY) and the Restructured Weather-Based Crop Insurance Scheme(RWBCIS).
Processing 60 million data records annually, SEWANxt demonastrates remarkable capcity to handle large-scale operations with precision and reliability.
The system automates business processes for over 70 variants of agriculture , allied and loivestock insurance products including offerings under the National Livestock Mission(NLM) and National Fisheries Development Programme(NFDP)
SEWANxt has also introduced several ground-breaking features that distinguish it within the insurance sector. The SARUS mobile enables smart enrolment by leveraging identity documents such as Aadhaar, PAN driving license, or voter ID, ensuring de-duplication and seamless onboarding .
In SEWANxt, an industry –first biometric muzzle recognition system authenticates livestock enrolment and claims through muzzle capture enhancing traceability and preventing fraudulent activitiers.
It also supports an integrated digital payments infrastructure enabling premium collection through UPI, net banking , credit and debit cards and personalized payment links , alongside claim disbursements via Direct Benefit Transfer(DBT)