Tryg and Genpact Reimagine Core Insurance Operations
Digital transformation of business processes to deliver superior customer service more efficiently
COPENHAGEN, Denmark and NEW YORK, Aug. 24, 2015 - Tryg, the second largest general insurer in the Nordic region, has selected Genpact (NYSE: G), a global leader in designing, transforming, and running intelligent business operations, for a multi-year engagement to help Tryg reimagine its core operations.
As a Nordic market leader, Tryg continuously strives to provide superior customer service while minimizing costs. By leveraging Genpact's strong process capabilities based on Lean management principles and its deep insurance industry expertise, Tryg's insurance operations will become more customer centric, agile, digital, and responsive. Genpact will further help streamline, automate, and optimize Tryg's underwriting support, policy administration, claims processing, and customer care services.
The engagement will incorporate Genpact's Lean DigitalSM approach that encompasses its patented Smart Enterprise Process (SEPSM) methodology; its Rapid Process Automation solution which is part of Genpact's Systems of EngagementTM portfolio; and Smart Decision Services.
Genpact will ultimately help Tryg achieve intelligent operations that sense, learn, and act effectively and efficiently at scale. Simplified processes also will improve response cycles and accuracy, enabling Tryg to focus on more strategic tasks and critical customer communication. The combined benefits will help Tryg continue on its path to be nimble and scalable while improving customer experience, containing costs, and optimizing business processes.
"We are very excited about our partnership with Genpact," says Lars Bonde, Executive Vice President, Private at Tryg. "We have selected Genpact among other things because of its strong core insurance domain knowledge, which impressed us from the very first workshops in the initial phase. I look forward to realizing the benefits of the successful cooperation among Tryg business areas, our central sourcing program, and Genpact."
"Partnering closely with Tryg will help the company drive automation and transform its operations. Genpact's deep analytical insights and our Lean Digital technology will help Tryg become more competitive, adaptive, and better connected to its customers," says Mohit Thukral, senior vice president and business leader of Banking, Financial Services and Insurance at Genpact. "This engagement continues to expand our footprint and capabilities in Europe, and further underscores the strong client relationships we have in the Nordic region."
Tryg is the second-largest insurance company in the Nordic region with activities in Denmark, Norway and Sweden. Tryg provides peace of mind and value for 2.7 million customers on a daily basis. Tryg is listed on Nasdaq Copenhagen and 60% of the shares are held by TryghedsGruppen smba. TryghedsGruppen, annually, contributes around DKK 500m to peace of mind purposes via TrygFonden.
Genpact (NYSE: G) stands for "generating business impact." We design, transform, and run intelligent business operations including those that are complex and specific to a set of chosen industries. The result is advanced operating models that assist our clients in becoming more competitive by supporting their growth and managing cost, risk, and compliance across a range of functions such as finance and procurement, financial services account servicing, claims management, regulatory affairs, and industrial asset optimization. Our Smart Enterprise Processes (SEPSM) proprietary framework helps companies reimagine how they operate by integrating effective Systems of EngagementTM, core IT, and Data-to-Action AnalyticsSM. Our hundreds of long-term clients include more than one-fourth of the Fortune Global 500. We have grown to over 70,000 people in 25 countries, with key management and a corporate office in New York City. Our global critical mass doesn't dilute our flexible and collaborative approach, and our management team still drives client partnerships personally. We believe we are able to generate impact quickly because of our business domain expertise and experience running complex operations, driving our focus on what works and making transformation sustainable. Clients attribute much of our success to our unique history: behind our passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 16 years. Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.
For more information:
Gail Marold (Genpact Media
Dan Wilson (For Genpact U.S.)
Quintin Keanie (For Genpact Europe)
+44 (0)207 309 1053