SBI Life Insurance has signed an MoU with IIT Bombay to establish ‘Bharat’s AI & Cyber Innovation Hub for Insurance’, a joint research and innovation centre focused on developing indigenous deep-technology solutions for India’s insurance sector.
Aligned with the vision of Atmanirbhar Bharat, the partnership will combine SBI Life’s insurance expertise with IIT Bombay’s research capabilities to develop solutions across artificial intelligence, cybersecurity and quantum technologies. The collaboration will also focus on talent development, executive education, strategic consulting and innovation incubation.
Abhijit Gulanikar, President – Operations & IT, SBI Life Insurance, said, “The next era of value creation in financial services will be led by organisations that don’t just consume technology, but actively build it. By bringing together some of India’s brightest scientific minds with our deep understanding of insurance, we are choosing to innovate, build and scale from India, for India.”
Prof. Ganesh Ramakrishnan, Chair Professor, Department of CSE, IIT Bombay and Founding Director, BharatGen, said, “This partnership allows academia to work shoulder-to-shoulder with industry on real-world problems in artificial intelligence, cybersecurity and quantum technologies, with sovereignty at the core.”
The Bharat Innovation Hub aims to strengthen cyber resilience, develop AI-driven tools and create a homegrown talent pipeline, while building a collaborative model that can support the wider financial services sector.
