SafeTree Unveils AI Tool and Report to Boost India's Surety Bond Market

SafeTree Insurance has launched a report 'Insurance Surety Bonds in India: From Policy to Practice' and an AI-powered underwriting tool to simplify the adoption of surety bonds. Part of a workshop by NHAI in New Delhi, the report examines the market's regulatory evolution and suggests solutions for scalability.

SafeTree Insurance has taken a significant step toward enhancing India's infrastructure financing with the launch of its flagship report, 'Insurance Surety Bonds in India: From Policy to Practice,' and a new AI-enabled underwriting tool. Both initiatives were announced during a National Highways Authority of India (NHAI) workshop held in New Delhi.

The report provides an in-depth analysis of the surety bond market in India, tracing its regulatory evolution and benchmarking it against international models in countries like the US and Brazil. It also proposes practical solutions to improve underwriting capacity and address operational challenges within India.

Industry leaders praised the initiative, with NHAI's Shri Rajendra Kumar emphasizing the strategic importance of surety bonds in unlocking liquidity and safeguarding financial interests in infrastructure projects. SafeTree's AI tool helps insurers evaluate MSME contractors, aiming to reduce issuance time and expand market participation.

(With inputs from agencies.)