- Solution overview
Time to raise your data game
Genpact's solution transforms and modernizes the L&A insurer's data environment
Changing customer needs and preferences. The emergence of tech-focused startups. The rise of machine learning (ML) and artificial intelligence (AI). These developments and more are putting pressure on L&A insurers to deliver better experiences for their customers and employees. But this requires insurers to modernize the way they handle data.
Challenge
As they try to streamline their systems and processes and modernize their data environment, however, L&A insurers face a variety of challenges, such as:
To adapt and thrive in this complex industry, L&A insurers must partner to transform their data strategy and management end to end.
Solution
To ensure they are getting the most out of their data and responding to their customers quickly, accurately, and transparently, L&A insurers need to bring their data together to analyze it closely and reform their data architecture.
Genpact helps carriers fast-track this data journey. But how?
First, we work with you to envision a target data architecture and data governance and management strategy that is state of the art, standardized, and well governed.
Then, we bring in our platform-agnostic and readily deployable tech stack and our skilled integration experts to turn that vision into reality.
Our suite of pretrained data management accelerators, such as the Cora Data Foundation and our AI/ML-driven PowerMe tool, enables you to quickly catalog, map, and consolidate data assets, instantly and automatically capture lineage, and democratize highly complex datasets for downstream analyst use. In turn, this:
Likewise, our extensive network of partners – from major cloud hyper-scalers to nimble insurtech solution providers – helps accelerate your data modernization journey.
To ensure ongoing quality and continuous improvement, we can also establish a data center of excellence.
Impact
Our team of actuaries and data scientists is well versed in the specifics of L&A insurance. Together, they have delivered a variety of benefits for insurers across the globe, including:
L&A insurers need to raise their data game: Genpact has the team and the technologies to do it, end to end.