Report cites Genpact's vision, digital and analytics capabilities, and ability to drive transformation for clients
New York, NY /PRNewswire/ - Genpact (NYSE: G), a global professional services firm focused on delivering digital transformation has, for the fifth consecutive year, secured a place in the Leaders quadrant in Everest Group's 2019 PEAK MatrixTM for property and casualty (P&C) insurance service providers.
The report evaluates 26 P&C insurance industry service providers across areas including vision, capabilities, and market impact. Everest Group emphasizes Genpact's digital technology innovations, including Genpact Cora, its artificial intelligence (AI)-based digital business platform, which has helped insurance companies transform their operations. The report also cites Genpact's strategic acquisitions augmenting the company's offerings for the P&C sector.
"Genpact has been able to drive digital transformation for its clients, through acquisitions of multiple complementary capabilities combined with in-house investments in technology offerings, with a focus on their critical claims and underwriting challenges," said Skand Bhargava, practice director, Everest Group. "Genpact's digital expertise, combined with experience managing operations for leading insurers, while keeping customer experience at the forefront, has positioned it for success."
Reimagining the insurance industry
Genpact Cora helps insurance companies transform their operations and improve customer experience, providing clients with a competitive advantage in the market. For example, Genpact helped a global reinsurance company increase time-to-revenue by approximately 50 percent by accelerating customer acknowledgment from five days to four hours.
Genpact is also partnering with Root Insurance, the nation's first licensed insurance carrier powered entirely by mobile, to further their vision to reinvent the auto insurance industry. Genpact's insurance process solutions help Root deliver a best-in-class digital experience though a streamlined, touchless claims process. Genpact's expertise from its work with numerous leading carriers is helping Root scale more quickly and maintain an aggressive growth and innovation strategy. This is enabling Root to accelerate the claims process from multiple days to mere hours.
"Insurers increasingly need to transform operations with digital technologies and a human-centric lens to meet the needs of tech-savvy millennials and Gen Z customers who want smarter products with fast, easy access," said Sasha Sanyal, business leader, Insurance, Genpact. "By combining our deep domain expertise with digital technologies, we are able to enhance customer experience, providing insurance clients with a competitive advantage, and helping them grow their businesses."
Genpact (NYSE: G) is a global professional services firm that makes business transformation real. We drive digital-led innovation and digitally-enabled intelligent operations for our clients, guided by our experience running thousands of processes primarily for Global Fortune 500 companies. We think with design, dream in digital, and solve problems with data and analytics. Combining our expertise in end-to-end operations and our AI-based platform, Genpact Cora, we focus on the details – all 90,000+ of us. From New York to New Delhi and more than 30 countries in between, we connect every dot, reimagine every process, and reinvent companies' ways of working. We know that reimagining each step from start to finish creates better business outcomes. Whatever it is, we'll be there with you – accelerating digital transformation to create bold, lasting results – because transformation happens here. Get to know us at Genpact.com and on LinkedIn, Twitter, YouTube, and Facebook.
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