Insurance

Insurance Finance & Accounting

Generating Life Insurance Impact

For over a decade, Genpact has been working with insurers to design, transform, and run billing, finance, and accounting-related functions. The result has been improved cash flow and increased customer satisfaction through end-to-end process improvements that streamline and integrate enterprise-wide billing and collections, application, and reconciliation.

The Genpact billing and collections service leverages the power of our Genpact Intelligent OperationsSM, an innovative combination of process transformation, technology, and customer analytics. This framework drives more transparent operations, fewer disputes, and higher customer satisfaction. We strive to increase efficiency and effectiveness driving down costs, enabling revenue growth, and enhancing controllership.

Solutions

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With the science of process backed by state-of-the-art Business Process Management (BPM) tools, our services span:

  • Document management
  • Billing
  • Accounts reconciliation
  • Generally accepted accounting principle (GAAP) disclosures
  • Tax and statutory reporting
  • Expense accounting and analysis
  • Accounts receivable
  • Closing and reporting

Partnering for Success: Through our “virtual captive" engagement model, we partner with our clients to build a team that blends seamlessly into their organizations. Our innovative human capital development practices continuously enhance our ability to deliver.

Robust Technology: Our industry-leading proprietary F&A toolkit has been refined through over 3,000 successful migrations. We provide key tools, such as signature verification, an accuracy enhancer, and duplicate audit tools, and couple them with process excellence roadmaps and end-to-end metrics that drive material results.

Impact

At Genpact, our focus has been on transforming and running business processes and operations specific to insurers. Focused on enabling stronger growth, Genpact works with 20+ clients, including six Fortune 500 insurers, generating an impact of $500 million+ for our clients in the industry. Successes include:

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