FPT has signed cooperation agreements with CR Labs.ai and Carlton Richards, aiming to harness the power of artificial intelligence (AI) for insurance companies and investment funds. The collaboration focuses on ensuring leading standards in security, compliance, and scalability.

This alliance, comprising FPT, CR Labs.ai, and Carlton Richards, will deliver AI solutions that integrate FPT's technological scale, CR Labs.ai's deep expertise in insurance and private equity, and Carlton Richards' strategic consulting capabilities.

FPT Group headquarters in Hanoi. Photo: FPT

The solutions will be deployed either on-premise or on specialized cloud infrastructure, featuring encryption mechanisms, access controls, and security measures to ensure privacy and safety. The alliance aims to support businesses throughout the entire AI solution lifecycle, from design and refinement to monitoring, retraining, and regulatory reporting.

Specifically, the AI-powered insurance platform will automate underwriting processes, risk scoring, fraud detection, and claims handling. According to FPT, underwriting time will be reduced from 20 minutes to two seconds per application, while up to 87% of claims can be processed online. An AI agent platform can increase agent productivity by up to 25%, assisting with recruitment, training, lead generation, and sales support. Citing a global insurance enterprise, FPT stated this solution helped increase annual premium revenue by 280 million USD.

FPT's IvyChat application, built on a multi-agent large language model, supports customer service, contract renewals, and real-time consulting. It can reduce errors by 80% and save 33% in annual personnel costs. For private equity applications, the solutions will optimize portfolios, model risks, and segment customers. This helps balance the need for technological innovation with auditing standards.

Dang Tran Phuong, deputy general director of FPT Software and CEO of the Americas region for FPT Group, stated that an AI-First approach and AI integration across all solutions are fundamental to the group's ability to support global enterprises. "FPT is ready to deliver disruptive transformation through its specialized expertise, global presence, and an AI-enhanced workforce," he said.

Richard Brasser, CEO of Carlton Richards, noted that AI does not have to be risky or experimental. When managed correctly, businesses can leverage AI's security and powerful applications. "This is the value that this cooperation will bring," he said.

"There is no room for error when it comes to compliance, privacy, and risk governance in insurance and private equity. We are committed to building effective AI systems that pass rigorous tests from regulatory bodies," said Chris Hart, director of CR Labs.ai.

According to FPT, the group has over 15 years of experience in the insurance, finance, and banking sectors, employing 3,000 experts and holding 500 insurance industry certifications. It provides solutions to more than 200 global clients. CR Labs.ai specializes in AI development for private equity and insurance. It is a subsidiary of Carlton Richards, a management consulting firm that designs and implements AI solutions and growth strategies in heavily regulated sectors.

Quang Anh