Digital Products and Services

Insurance

Insurers ignoring digital - not a risk worth taking

For insurers, competing in a digital market means having greater flexibility and agility in order to create value for their customers. As rapid digitization continues changing customer expectations, insurers can't simply bolt on digital technologies to their organizations and expect to see results. Genpact's digital portfolio helps insurers embrace digital technologies within their operating models to deliver better results for their customers and their bottom lines.

Our digital portfolio is the culmination of cutting edge technologies, process expertise, and experience working for our clients for the last two decades. Our products and productized services are enabled by Genpact Cora - an artificial intelligence (AI)-based platform, that helps us to reframe and solve real world business issues to drive digital transformation across the insurance industry.

Solutions

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For the CFO:

CFOs want to generate greater value and insights to become a more strategic partner. But fragmented, manual processes hold them back. Genpact transforms finance functions with advanced digital products, analytics, and domain expertise.

Order to cash

  • Cora ARFlow: Streamline order to cash
  • Collections Optimizer: Improve cash flow with dynamic risk-based collections using big data and computational linguistics
  • Touchless CashApp Assistant: Streamline and automate cash applications with robotic process automation and computational linguistics
  • Working Capital Optimizer: Boost liquidity with automation and predictive analytics to drive accurate and consistent insights and generate commentaries through conversational AI

Procure to pay

  • Cora APFlow: Transform accounts payable by connecting with suppliers for end-to-end visibility and prompt payment
  • Cognitive Buying Assistant: Conversational AI-based product to transform the buying experience
  • Touchless Invoice Optimizer: Optimize end-to-end invoice processing through e-invoicing, machine learning, dynamic workflow, and robotics
  • Duplicate Payments Optimizer: Eliminate duplicate payments with machine learning

Record to report

  • Cora FinancialControllership: Simplify and automate reconciliation processes for improved compliance and greater confidence
  • Accrual Assistant: Close books with speed and accuracy, and have more time for analysis and insights
  • Process Lifecycle Manager: Transform case and workflow management across any finance and accounting business process

Enterprise Performance Management

  • Enterprise Performance Optimizer: Gain real-time insights into business performance through data engineering and advanced visualization
  • Intelligent Reporting Assistant: Timely business insights and management reporting from big data and computational linguistics
  • Enterprise Expense Optimizer: Reimagine budget planning and execution with advanced analytics and visualization to deliver dramatic savings

For the insurer:

Whether the focus is claims, underwriting, customer experience, or core operations, Genpact's digital products and services, powered by our AI-based Genpact Cora platform and developed from years of industry experience can help. Our offerings include:

  • Underwriting Decision Optimizer: Submission, triage and renewal book manager
  • Claims Manager: Claims, FNOL, triage and litigation expense management
  • Insurance Ops Manager: Operating toolkit for work allocation and quality control
  • Inspection Assistant: Instant inspections and AI-driven insights
  • Front Desk Assistant: Intelligent automation for the handling of submissions for policies and renewals
  • Contract Assistant: Transform billing and contract reconciliation
  • Cora SeQuence: Intelligent workflow - automate, optimize and embed insights into process
 

Impact

Our digital products for insurers are based on Lean principles, design thinking, agile development practices, and advanced process-centric digital technologies that can provide a powerful and practical way to rapidly harness the revolutionary power of a successful digital transformation. Our client success stories include:

Let’s talk about what you’re interested in.

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