Business

Genpact has earned the rank of a Leader in Everest Group’s inaugural Digital Platform and Augmentation Suite (DPAS) in Insurance Business Process Services (BPS) PEAK Matrix Assessment 2022. The report examines 15 insurance BPS providers, and evaluates their relative positioning based on service focus, key intellectual property solutions, domain investments, and case studies.

Due to increasing customer demand for streamlined and contactless services, providers are offering digital solutions that meet these needs for enhanced speed of delivery, reduced turn-around time, and improved accuracy and quality.

Everest Group recognized Genpact for delivering such vital technology transformations that optimize functions across the insurance value chain.

Genpact’s ‘data first’ approach is applied to solving some of the toughest challenges in this increasingly complex industry. By leveraging a single orchestration framework over any existing tech stacks, including single or multiple policy administration systems, clients receive improved and near real-time decision-making capabilities that allow for quicker resolution.

The strategic alignment of multiple data sources for improved outcomes is executed through a combination of proprietary solutions on Genpact’s artificial intelligence (AI) platform, CORA, as well as a strong partner ecosystem, across the entire insurance value chain from customer acquisition and underwriting through claims and re-insurance. Genpact has also integrated its latest acquisitions of Enquero, Hoodoo and Something Digital with specific use cases for the insurance industry to further improve data driven decisioning and experience.

“There is escalating demand for new, modified and streamlined products against the landscape of complex policy regulations and introduction of new and disruptive technologies in the market. To solve for this, our ever-expanding data and tech partnership ecosystem, paired with Genpact’s CORA AI solutions, enables insurers, brokers and agents to benefit from streamlined, data-driven results that drive profitable growth while improving customer experience,” said Sameer Dewan, global business leader, insurance, Genpact. “By bringing together the right set of technology and industry experts, we are creating novel ways of working to help the entire industry evolve, which is evidenced by five of the top eight insurers engaging with Genpact to better serve their customers.”

“Genpact charted its DPAS journey through a blend of in-house solutions, industry expertise, and partnered capabilities. It aims to develop an integrated insurance ecosystem, which caters to the growing need for better user experience and faster adoption through modern processes. Genpact has made significant investments in its proprietary CORA platform supported by process-centric digital wrappers. Stronger client traction on digital solutions is a testament to market acceptance of a company’s solution and capabilities,” said Abhi Kothari, Practice Director, Everest Group. “Moreover, Genpact’s capability across automation, AI, and analytics solutions, integrated with underwriting and claims managers, have reinforced Genpact’s position as a Leader in Everest Group’s Digital Platform and Augmentation Suite (DPAS) in Insurance BPS PEAK Matrix® Assessment 2022.”