A no-flow underfill material and process suitable for underfilling a bumped circuit component. The underfill material initially comprises a dielectric polymer material in which is dispersed a precursor capable of reacting to form an inorganic filler. The underfill process generally entails dispensing the underfill material over terminals on a substrate, and then placing the component on the substrate so that the underfill material is penetrated by the bumps on the component and the bumps contact the terminals on the substrate. The bumps are then reflowed to form solid electrical interconnects that are encapsulated by the resulting underfill layer. The precursor may be reacted to form the inorganic filler either during or after reflow.