Leading research firm Everest Group has named Genpact a Leader and Star Performer in the Everest Group PEAK Matrix® for Property and Casualty (P&C) Insurance Business Process Service (BPS) Providers 2021 report.
Genpact is the only star performer in the leader category, demonstrating the strongest forward and upward movement from the 2020 report and maximum year-over-year growth.
The report cites Genpact's ability to combine design thinking principles and lean approaches with digital technologies, analytics, and domain expertise to run operations across the insurance value chain. Everest Group highlighted the company's technical expertise in cloud enablement, investments into broker-centric solutions, ability to provide robust end-to-end claims management services, and increased upskilling and reskilling of talent through Genome, the company's internal collaborative learning platform, as key strengths.
"Genpact has an acute focus on developing itself as a transformation partner for clients across the insurance industry – carriers, and more recently, brokers, reinsurers, and insurtechs," comments Somya Bhadola, Practice Director, Insurance Research, Everest Group. “The company is actively investing in training and targeted capability building, which has helped Genpact continually strengthen its positioning and successfully expand existing relationships. As an experienced BPS player with well-established domain expertise and multi-shore delivery capabilities, Genpact is well positioned to enable operational optimization and transformation for insurance enterprises, especially in their core actuarial, underwriting, and claims functions."
“Agility and innovation are critical for insurers to build market share in rapidly evolving, competitive environments," said Sameer Dewan, Genpact's global business leader for insurance. “Our ability to transform and run the end-to-end insurance value chain helps our clients create the critical competitive advantage they need at the intersection of data, analytics, and technology."
Learn more about Genpact's insurance services.