Underwriters today face critical challenges, including:
- How to achieve profitable growth
- How to deliver the highest-possible level of customer service
- How to compete with competition around analytics and technology
Compounding these challenges is the fact that a lot of companies are using legacy systems that are not only difficult, time-consuming, and expensive to replace, but feature processes that are not labelled appropriately. At Genpact, we help underwriters address these and other challenges through a host of tools and processes, such as:
- Analytics Solutions
- Process Management
- Subject matter expertise
- Business process outsourcing (BPO) to enable companies to get to the right process
We have found that technology is frequently the critical missing step. Our Systems of EngagementTM is a layer designed to work on top of existing policy management systems, enhancing the underwriting process by, for instance, automatically directing each assignment to the resource best suited (in terms of expertise, availability, or cost) to handle it. And the next step in the process—no matter if that step involves classification-correction review, deep-dive underwriting, or file-case management—will be similarly optimized.
Genpact' s process management tools, such as increasing analytics to build trilogy models, prioritize risks so that underwriters can focus on the right areas, and direct processes towards appropriate resources, whether as a function of expertise, availability, or cost. Genpact, with its Systems of EngagementTM and process management solutions, creates customer-centric solutions that are crafted and targeted to fit existing systems within a company at the time of deployment. Providing clients with the solution on top of legacy systems lowers installation costs and expedites scheduling. We provide a set of solutions tailored to specific circumstances, and, rather than dictating process from the outset, enable the right systems, which in turn enable the right process. In contrast to a policy management solution or a ready system, Genpact offers a submission process management solution, which lays on top of existing systems and is delivered via cloud. This makes it very light, with minimal IT touch, at the same time that it creates critical process enablers and ensures that underwriters have the processes in place that they need to succeed.