Mosaic Insurance Partners with WNS on Future-ready Operations Model

Rhea-AI Summary

WNS (Holdings) (NYSE: WNS) partners with Mosaic Insurance to create a future-ready operations model. This multi-year strategic partnership aims to improve underwriting, claims support, reinsurance processing, finance, and technology services. WNS will leverage its digital-first operations, advanced analytics, and automation to enhance efficiency, customer experience, and market positioning. The collaboration includes setting up an Automation Center of Excellence to identify automation opportunities across business functions. Mosaic Insurance, founded in 2021, operates in seven countries and focuses on specialty lines such as transactional liability, cyber, and political risk, among others. WNS supports over 65 global insurers and has established a prominent position in the UK insurance market.

Positive

• Multi-year strategic partnership with Mosaic Insurance.
• Focus on improving efficiency, customer experience, and market positioning.
• Establishment of an Automation Center of Excellence.
• Support for Mosaic's growth in niche specialty products.
• WNS's deep domain expertise and advanced analytics capabilities.
• WNS's prominent position in the UK insurance market.

Negative

• None.

NEW YORK & LONDON & HAMILTON, Bermuda & MUMBAI, India--(BUSINESS WIRE)-- WNS (Holdings) Limited (NYSE: WNS), a leading provider of global digital-led Business Process Management (BPM) solutions, and Mosaic Insurance, a global specialty insurer, today announced their strategic partnership to create a future-ready operations model for underwriting and claims support, reinsurance processing, and finance and technology services.

L to R : Reeva Bakhshi, CFO, Mosaic; Mitch Blaser, Co-CEO, Mosaic; Keshav R. Murugesh, Group CEO, WNS; and Krishnan Ethirajan, COO, Mosaic (Photo: Business Wire)

Under the multi-year partnership, WNS will leverage its deep domain expertise to build digital-first operations to improve efficiency, customer experience, and market positioning. WNS will also drive actionable insights by improving data management and embedding advanced analytics to support Mosaic’s growth in niche specialty products.

As part of the technology services solution, WNS will set up an automation Center of Excellence (CoE) to identify automation opportunities across business functions. WNS has established a multi-tower, multi-location process, including a core middle-office delivery team alongside Mosaic’s internal operations center. The partnership with WNS will enable Mosaic to continue focusing on market innovation.

“Our collaboration with Mosaic Insurance highlights WNS’ unique capabilities in delivering domain-centric, technology-led specialty solutions for the Lloyd’s of London market. We have already taken our first steps on this journey, working with Mosaic to build a digital workflow ecosystem enabled by hyperautomation,” said Keshav R. Murugesh, Group CEO, WNS.

“WNS understands the insurance industry and the complexities of Mosaic’s unique model as an insurer combining Lloyd’s syndicate and agency serving a variety of capital partners,” said Mitch Blaser, Co-Founder and Co-CEO of Mosaic. “This alliance helps us stay nimble, grow efficiently across geographies, and bring the best solutions to our clients as we develop.”

Founded in 2021, Mosaic underwrites seven lines of specialty business from seven countries, offering syndicated capacity from underwriting hubs in Bermuda, the UK, US, Canada, Germany, UAE, and Singapore. Its product focus is transactional liability, cyber, political risk, political violence, environmental liability, professional liability, and financial institutions.

WNS partners with more than 65 global insurers, re-insurers, brokers and Insurtech firms to ensure they succeed in a rapidly changing business environment by improving risk mitigation, reducing indemnity spending, enhancing customer experience, and lowering service costs. WNS has a differentiated position in the UK insurance market, including deep domain expertise established by supporting over 10 Lloyd’s and London market clients.

About Mosaic Insurance

Mosaic is a global specialty insurer with exceptional underwriting talent, a focus on complex product lines, full claims-settlement authority, and an award-winning, digitized operating model. Deploying capital from insurance carrier partners alongside that of our own Lloyd’s Syndicate 1609, Mosaic offers capacity and custom service through a worldwide network. We harness the heritage of Lloyd’s and benefit from the market’s global licenses and financial-strength ratings. Visit mosaicinsurance.com and follow us at @Mosaic1609.

About WNS

WNS (Holdings) Limited (NYSE: WNS) is a leading Business Process Management (BPM) company. WNS combines deep industry knowledge with technology, analytics, and process expertise to co-create innovative, digitally led transformational solutions with over 600 clients across various industries. WNS delivers an entire spectrum of BPM solutions including industry-specific offerings, customer experience services, finance and accounting, human resources, procurement, and research and analytics to re-imagine the digital future of businesses. As of March 31, 2024, WNS had 60,125 professionals across 65 delivery centers worldwide including facilities in Canada, China, Costa Rica, India, Malaysia, the Philippines, Poland, Romania, South Africa, Sri Lanka, Turkey, the United Kingdom, and the United States.

For more information, visit www.wns.com or follow us on Facebook, Twitter, LinkedIn, and Instagram.

Safe Harbor Provision

This document includes information which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events. Factors that could cause actual results to differ materially from those expressed or implied are discussed in our most recent Form 20-F and other filings with the Securities and Exchange Commission. WNS undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240618470586/en/

WNS CONTACT:

Investors:

David Mackey

EVP – Finance & Head of Investor Relations

WNS (Holdings) Limited

+1 (646) 908-2615

david.mackey@wns.com

Media:

Archana Raghuram

EVP & Global Head – Marketing & Communications

WNS (Holdings) Limited

+91 (22) 4095 2397

archana.raghuram@wns.com; pr@wns.com

MOSAIC INSURANCE CONTACT:

Media:

Rosemary Jones

Chief Communications Officer

+1 441 337 4696

rose.jones@mosaicinsurance.com

Source: WNS (Holdings) Limited

FAQ

What is the new partnership between WNS and Mosaic Insurance?

WNS and Mosaic Insurance have announced a multi-year strategic partnership to create a future-ready operations model for underwriting, claims support, reinsurance processing, and finance and technology services.

What are the goals of the WNS and Mosaic Insurance partnership?

The partnership aims to improve efficiency, customer experience, and market positioning through digital-first operations, advanced analytics, and automation.

How will WNS support Mosaic Insurance's operations?

WNS will leverage its digital-first operations and advanced analytics to improve data management, efficiency, and customer experience. It will also set up an Automation Center of Excellence to identify automation opportunities.

What specialty lines does Mosaic Insurance focus on?

Mosaic Insurance focuses on specialty lines including transactional liability, cyber, political risk, political violence, environmental liability, professional liability, and financial institutions.

What is the significance of WNS's position in the UK insurance market?

WNS holds a prominent position in the UK insurance market, supporting over 10 Lloyd’s and London market clients with deep domain expertise and advanced analytics capabilities.