Intellect Design jumps 3% on ₹200 crore deal with London-based brokerage

Shares of Intellect Design Arena Ltd surged nearly 3% on Thursday after its Insurtech unit, Intellect AI, signed a multi-year deal worth ₹200 crore with a leading London-based brokerage firm. Intellect AI provides AI and data-powered underwriting solutions to its clients.

As part of the agreement, the brokerage firm will use Intellect AI’s Purple Fabric platform, Magic Submission, and Xponent to streamline its underwriting process.

Announcing the deal through an exchange filing on February 20, Intellect AI said the collaboration will simplify claims processing, enhance risk qualification and pricing, and improve broker-carrier interactions by integrating underwriting, placement, and policy issuance.

The ₹200 crore contract covers binding, payments, invoicing, bordereaux generation, and claims management. By leveraging Purple Fabric and Xponent’s AI-driven capabilities, the London-based brokerage aims to streamline submission processing, expand market access, and offer an end-to-end digital experience to customers.Banesh Prabhu, CEO of Intellect AI, said: “The speed and conviction with which this deal was finalised is a testament to the value our platform brings to the industry. By leveraging our Purple Fabric platform, we are not only enhancing the underwriting process but fundamentally transforming it. Our AI-driven ecosystem enables brokers to accelerate deal flow, expand market access, and drive operational efficiencies that were previously unattainable.”

According to Intellect AI, Purple Fabric combines 217 advanced technologies to deliver AI solutions for brokers, MGAs, cover holders, and insurers worldwide.

Shares of Intellect Design Arena opened nearly flat at ₹712.4 on the BSE before rising 2.5% to an intraday high of ₹730.4. The stock was trading 1.5% higher at ₹720.10 apiece at 3:20 pm.