SafeTree Launches Report on Insurance Surety Bonds in India and AI Underwriting Tool
Launch of “Insurance Surety Bonds in India: From Policy to Practice and SafeTree AI Tool”
It was a proud moment for SafeTree to launch its report ‘Insurance Surety Bonds in India: From Policy to Practice and SafeTree AI Tool’ during workshop ‘Implementation of Insurance Surety Bonds and e-BGs’ organised by National Highways Authority of India (NHAI), held in New Delhi. The reported by released by Mr Rajendra Kumar, Member, Finance, NHAI, Nilesh Sathe, Ex Member, IRDAI, Mr Ashish Kumar Singh, CGM (Finance), NHAI.
The report provides a comprehensive analysis of the insurance surety bond market in India—tracing its regulatory evolution, benchmarking international models such as those in the United States and Brazil, and proposing actionable solutions to address gaps in underwriting capacity, contractor credit data, and operational scalability in India.
The event also highlighted SafeTree’s AI-based underwriting tool, designed to assist insurers in evaluating unrated MSME contractors using a composite of financial, sectoral, and project-specific data. This initiative aims to reduce the time taken by Insurance companies to analyse contractors’ data and bridge the information gap that often limits the issuance of bonds to only large, rated contractors.