Genpact Recognized as a Leader for Insurance Intermediaries Services by Everest Group

Rhea-AI Summary

Genpact (NYSE: G) has been acknowledged as a Leader in Everest Group's 2024 PEAK Matrix® Assessment for insurance intermediaries services. This recognition highlights Genpact's AI-led transformation efforts, which enhance efficiency, scalability, and growth for global clients in sectors such as property, casualty, life, annuities, retirements, and care management services.

Genpact's robust suite of AI, analytics, and automation solutions significantly improves distribution, new business, underwriting, claims, actuarial, and reinsurance processes. This transformation is important for insurers to stay competitive in a fast-evolving market by enhancing efficiency, customer experience, and profitability.

The recognition stems from Genpact's proactive investment in AI and data-focused tools, legacy platform modernization, and generative AI implementations, positioning them as a leader among 15 evaluated providers.

Positive

• Genpact recognized as a Leader in 2024 PEAK Matrix Assessment by Everest Group.
• AI-first approach enhances efficiency, scalability, and growth for global clients.
• Proactive investment in AI-focused orchestration tools and legacy platform modernization.
• Improves distribution, new business, underwriting, claims, actuarial, and reinsurance processes.
• Elevates customer experience and profitability for insurance intermediaries.
• Positioned as a Leader among 15 evaluated providers.

Negative

• No specific financial data or revenue figures were provided, making it difficult to gauge the direct financial impact.

AI-led transformation is Genpact's epicenter in supporting growth, efficiency, and scalability for global clients

NEW YORK, June 18, 2024  /PRNewswire/ -- Genpact (NYSE: G), a global professional services and solutions firm delivering outcomes that shape the future, has earned the top recognition as a Leader in Everest Group's first PEAK Matrix® Assessment 2024 for insurance intermediaries services.

Genpact's AI-first approach leverages data from existing frameworks to support impactful and transformative operations for global clients in property, casualty, life, annuities, retirements and care management services. The report highlights Genpact's robust suite of industry-wide solutions and accelerators built on AI, analytics, and automation to improve distribution, new business, underwriting, claims, actuarial, and reinsurance outcomes and create a robust experience for employees and customers.

"We are at a pivotal point with the integration of AI revolutionizing the industry and creating more efficient and scalable opportunities for insurers to mature and adapt to customers' on-demand needs," said Sameer Dewan, Global Business Leader, Financial Services, Genpact. "By digitizing operations and incorporating AI, insurance brokers and intermediaries can significantly enhance efficiency, customer experience, and profitability, while staying competitive in a rapidly evolving market. The integration of these technologies is not just an upgrade but a strategic necessity for sustainable growth and success in the insurance industry."  

With proactive investment in building data and AI-focused orchestration tools and legacy-enhancing interventions, Genpact is addressing industry challenges across the value chain, including underwriting, servicing, and claims.

"Intermediaries are increasingly engaging with service providers with transformative strategies to optimize their operations," said Sahil Chaudhary, Practice Director, Everest Group. "Moreover, Genpact's investment in legacy platform modernization services, Guidewire implementation, and the implementation of generative AI in underwriting manager solutions has positioned it as a Leader in the Everest Group Insurance Intermediaries Services PEAK Matrix Assessment 2024."

Everest Group evaluated 15 providers against rigorous criteria, including an RFI, client reference checks, and ongoing market analysis. Genpact emerged as a Leader, based on its ongoing commitment to leveraging AI and cultivating a strong talent roster, elevating its insurance intermediary services for global clients.

To learn more about our insurance services, please visit: https://www.genpact.com/insight/everest-group-names-genpact-a-leader-in-insurance-intermediaries-peak-matrix

About Genpact

Genpact (NYSE: G) is a global professional services firm delivering the outcomes that transform our clients' businesses and shape their future. We're guided by our real-world experience redesigning and running thousands of processes for hundreds of global companies. Our clients – including many in the Global Fortune 500 – partner with us for our unique ability to combine deep industry and functional expertise, leading talent, and proven methodologies to drive collaborative innovation that turns insights into action and delivers outcomes at scale. We create lasting competitive advantages for our clients and their customers, running digitally enabled operations and applying our Data-Tech-AI services to design, build, and transform their businesses. And we do it all with purpose. From New York to New Delhi and more than 30 countries in between, our 125,000+ team is passionate in its relentless pursuit of a world that works better for people. Get to know us at Genpact.com and on LinkedIn, Twitter, YouTube, and Facebook. 

MEDIA CONTACT:
Sarah Joyce
Genpact Media Relations
626-379-9829
sarah.joyce@genpact.com

 

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SOURCE Genpact

FAQ

What recent recognition did Genpact receive?

Genpact was recognized as a Leader in Everest Group's 2024 PEAK Matrix Assessment for insurance intermediaries services.

How does Genpact's AI-led approach benefit its clients?

Genpact's AI-led approach enhances efficiency, scalability, and growth for clients, improving distribution, new business, underwriting, claims, actuarial, and reinsurance processes.

What sectors does Genpact's recognition by Everest Group cover?

The recognition covers sectors including property, casualty, life, annuities, retirements, and care management services.

What makes Genpact a leader according to Everest Group?

Genpact's proactive investment in AI-focused tools, legacy platform modernization, and generative AI implementations positioned it as a leader among 15 evaluated providers.

What is the importance of Genpact's AI-led transformation for insurers?

The AI-led transformation is important for insurers to enhance efficiency, customer experience, and profitability, thus staying competitive in a rapidly evolving market.