Genpact Recognized as Leader in Insurance Business Process Transformation, Leveraging AI Innovations
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On Wed, 13 Nov, 4:04 PM UTC
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Genpact Named a Leader in Avasant's 2024 Insurance Business Process Transformation RadarView Report By Investing.com
Genpact (NYSE:G)'s deep insurance and advanced technology expertise drive transformation and agility , Nov. 13, 2024 /PRNewswire/ -- Genpact (NYSE: G), a global professional services and solutions firm delivering outcomes that shape the future, today announced that it has been named a Leader in the inaugural edition of Avasant's 2024 Insurance Business Process Transformation RadarViewâ„¢ report. This recognition highlights Genpact's deep insurance expertise, coupled with its innovations in artificial intelligence (AI) to deliver end-to-end insurance transformations that improve agility and drive competitive advantages for its enterprise clients. "As the AI revolution unfolds, insurance leaders are reinventing their operations, requiring foresight and agility to stay competitive," said , Global Business Leader for Insurance at Genpact. "This latest acknowledgment of our deep industry knowledge and advanced technology expertise reflects our commitment to driving AI innovations that provide data-driven insights, challenge conventional thinking, and deliver scalable, meaningful value." Avasant evaluated 22 leading service providers offering insurance business process transformation services. Leaders are distinguished by their practice maturity, investments and innovation, and partner ecosystem. "As the insurance industry shifts toward digital transformation, Genpact leverages AI, analytics, and automation through its proprietary platforms and partner ecosystem to help address the demand for faster and more accurate claims processing, enhanced customer engagement, and cost management with its end-to-end solutions," said , Partner at Avasant. "Its expertise in integrating generative AI solutions, including Cora (LON:CORAC) ContactUs.ai for customer service automation and AI-powered claims handling, enables insurers to streamline customer interactions and improve operational efficiency." Genpact combines deep functional and industry expertise with advanced technologies, embedding AI across the insurance value chain to help deliver faster claims resolution, more precise underwriting, improved customer experience, and overall cost efficiency. These innovations create a seamless, data-driven ecosystem for insurers, reinsurers, brokers, and insurtechs to benefit from greater transparency, quicker service delivery, and more personalized insurance solutions. By optimizing operational efficiency and enabling data-driven decision-making, Genpact empowers stakeholders in the insurance industry to enhance their agility and build competitive advantages. Genpact (NYSE: G) is a global professional services and solutions firm delivering outcomes that shape the future. Our 125,000+ people across 30+ countries are driven by our innate curiosity, entrepreneurial agility, and desire to create lasting value for clients. Powered by our purpose " the relentless pursuit of a world that works better for people " we serve and transform leading enterprises, including the Fortune Global 500, with our deep business and industry knowledge, digital operations services, and expertise in data, technology, and AI.
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Genpact Named a Leader in Avasant's 2024 Insurance Business Process Transformation RadarView Report - Genpact (NYSE:G)
Genpact's deep insurance and advanced technology expertise drive transformation and agility NEW YORK, Nov. 13, 2024 /PRNewswire/ -- Genpact G, a global professional services and solutions firm delivering outcomes that shape the future, today announced that it has been named a Leader in the inaugural edition of Avasant's 2024 Insurance Business Process Transformation RadarViewâ„¢ report. This recognition highlights Genpact's deep insurance expertise, coupled with its innovations in artificial intelligence (AI) to deliver end-to-end insurance transformations that improve agility and drive competitive advantages for its enterprise clients. Genpact's insurance expertise and AI innovations help clients improve agility and drive competitive advantages. "As the AI revolution unfolds, insurance leaders are reinventing their operations, requiring foresight and agility to stay competitive," said Suhas Sethi, Global Business Leader for Insurance at Genpact. "This latest acknowledgment of our deep industry knowledge and advanced technology expertise reflects our commitment to driving AI innovations that provide data-driven insights, challenge conventional thinking, and deliver scalable, meaningful value." Avasant evaluated 22 leading service providers offering insurance business process transformation services. Leaders are distinguished by their practice maturity, investments and innovation, and partner ecosystem. "As the insurance industry shifts toward digital transformation, Genpact leverages AI, analytics, and automation through its proprietary platforms and partner ecosystem to help address the demand for faster and more accurate claims processing, enhanced customer engagement, and cost management with its end-to-end solutions," said Swapnil Bhatnagar, Partner at Avasant. "Its expertise in integrating generative AI solutions, including Cora ContactUs.ai for customer service automation and AI-powered claims handling, enables insurers to streamline customer interactions and improve operational efficiency." Genpact combines deep functional and industry expertise with advanced technologies, embedding AI across the insurance value chain to help deliver faster claims resolution, more precise underwriting, improved customer experience, and overall cost efficiency. These innovations create a seamless, data-driven ecosystem for insurers, reinsurers, brokers, and insurtechs to benefit from greater transparency, quicker service delivery, and more personalized insurance solutions. By optimizing operational efficiency and enabling data-driven decision-making, Genpact empowers stakeholders in the insurance industry to enhance their agility and build competitive advantages. "With a strong presence in North America, United Kingdom, and Asia-Pacific, and consistent investments in building strategic partnerships around generative AI and automation, Genpact supports insurers in navigating regulatory challenges, reducing claims handling costs, enhancing risk evaluation and underwriting capabilities, and elevating customer experiences," continued Bhatnagar. "This comprehensive approach has earned Genpact recognition as a Leader in Avasant's Insurance Business Process Transformation 2024 RadarView." For more information on Genpact's insurance services, visit: https://www.genpact.com/industries/insurance. About Genpact Genpact G is a global professional services and solutions firm delivering outcomes that shape the future. Our 125,000+ people across 30+ countries are driven by our innate curiosity, entrepreneurial agility, and desire to create lasting value for clients. Powered by our purpose - the relentless pursuit of a world that works better for people - we serve and transform leading enterprises, including the Fortune Global 500, with our deep business and industry knowledge, digital operations services, and expertise in data, technology, and AI. Get to know us at genpact.com and on LinkedIn, X, YouTube, and Facebook. MEDIA CONTACT: Geraldine Lim Genpact Media Relations +1-951-318-3494 geraldine.lim@genpact.com View original content to download multimedia:https://www.prnewswire.com/news-releases/genpact-named-a-leader-in-avasants-2024-insurance-business-process-transformation-radarview-report-302303191.html SOURCE Genpact Market News and Data brought to you by Benzinga APIs
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Genpact has been named a Leader in Avasant's 2024 Insurance Business Process Transformation RadarView report, highlighting its expertise in AI-driven insurance transformations that enhance agility and competitiveness.
Genpact's Leadership in Insurance Transformation
Genpact (NYSE: G), a global professional services firm, has been recognized as a Leader in the inaugural edition of Avasant's 2024 Insurance Business Process Transformation RadarViewâ„¢ report. This accolade underscores Genpact's profound insurance expertise and its innovative use of artificial intelligence (AI) in delivering comprehensive insurance transformations 12.
AI-Driven Innovation in Insurance
Genpact's approach to insurance transformation is heavily centered on AI integration across the entire insurance value chain. The company leverages AI, analytics, and automation through proprietary platforms and partnerships to address key industry demands:
- Faster and more accurate claims processing
- Enhanced customer engagement
- Improved cost management
Suhas Sethi, Global Business Leader for Insurance at Genpact, emphasized the importance of AI in the evolving insurance landscape: "As the AI revolution unfolds, insurance leaders are reinventing their operations, requiring foresight and agility to stay competitive" 1.
Generative AI Solutions
Genpact's expertise in integrating generative AI solutions has been particularly noteworthy. Key innovations include:
- Cora ContactUs.ai for customer service automation
- AI-powered claims handling
These solutions enable insurers to streamline customer interactions and significantly improve operational efficiency 2.
Comprehensive Insurance Ecosystem
Genpact's innovations create a seamless, data-driven ecosystem benefiting various stakeholders in the insurance industry:
- Insurers
- Reinsurers
- Brokers
- Insurtechs
This ecosystem offers greater transparency, quicker service delivery, and more personalized insurance solutions. By optimizing operational efficiency and enabling data-driven decision-making, Genpact empowers industry stakeholders to enhance their agility and build competitive advantages 12.
Global Presence and Strategic Partnerships
Genpact's strong presence in North America, the United Kingdom, and Asia-Pacific, coupled with consistent investments in strategic partnerships around generative AI and automation, has been crucial in supporting insurers. The company assists in:
- Navigating regulatory challenges
- Reducing claims handling costs
- Enhancing risk evaluation and underwriting capabilities
- Elevating customer experiences 2
Avasant's Evaluation
Avasant, which evaluated 22 leading service providers, distinguished Leaders based on their practice maturity, investments, innovation, and partner ecosystem. Swapnil Bhatnagar, Partner at Avasant, noted Genpact's comprehensive approach to addressing industry demands through AI-driven solutions 12.
Genpact's Global Impact
With over 125,000 employees across 30+ countries, Genpact serves and transforms leading enterprises, including those in the Fortune Global 500. The company's focus on leveraging deep business and industry knowledge, combined with expertise in data, technology, and AI, positions it at the forefront of driving meaningful transformations in the insurance sector 12.
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