To compete and win, insurers need to move fast and delight customers. Operational agility is key. But often, the inadequacy of core systems can't support it. Meanwhile, the transformation required to achieve operational agility can take many years, especially when an insurer tries to go it alone.
So, insurers are increasingly turning to digital platform-oriented business process services (BPS) providers, such as Genpact, and leveraging their suite of advanced, digital technologies to reduce turnaround times and improve accuracy and product quality.
Notably, Genpact has earned the rank of Leader in Everest Group's inaugural PEAK Matrix for Digital Platform and Augmentation Suite (DPAS) in Insurance BPS Provider 2022.
The global analyst firm recognizes our vision and strategy to serve as a one-stop shop for digital transformation initiatives, with offerings based on our proprietary artificial intelligence platform, Cora. These offerings provide a single orchestration frame over any of the existing policy administration systems. Everest Group's report highlights the following offerings, in particular:
- Underwriting manager
- Claims manager
And it emphasizes the depth of our DPAS solutions, consisting of robotic process automation, cognitive automation, and advanced analytics.
The leading research firm also acknowledges our continued investments in:
- Data and analytics, with our recent acquisition of Enquero
- Customer experience, with our acquisition of Hoodoo Digital to expand our Rightpoint business
The report looks at 15 insurance BPS providers in all and evaluates their relative positioning based on service focus, key intellectual property solutions, domain investments, and case studies.