Genpact ranked top worldwide insurance BPO services providers by HfS Research

Genpact was ranked highly in the area of execution because of its robust global delivery capabilities

May 21, 2014 2:42 IST | India Infoline News Service
Genpact Limited, a global leader in transforming and running business processes and operations, has been ranked among the top worldwide insurance business process outsourcing (BPO) services providers by leading analyst firm HfS Research in its “2013 Blueprint Report on Insurance BPO.”
The HfS assessment differentiates along execution and innovation categories, and covers the opinion of a broad range of stakeholders including 1,355 insurance BPO enterprise buyers, service providers, industry influencers and analysts.
Genpact was ranked highly in the area of execution because of its robust global delivery capabilities, demonstrated expertise across the core insurance BPO services value chain, and exceptional account management and client engagement efforts. In the area of innovation, the report cited Genpact’s strenghts including commitment to investing in the insurance vertical and delivering value beyond cost by consistently engaging with its clients on vertical-specific innovations. Genpact’s forward-thinking vision for the future scope of insurance BPO has helped clients realize benefits from the use of emerging technologies, continuous improvement efforts and regulatory compliance vigilance. 
“Genpact is adding material value to clients’ core insurance operations by driving the application of social, mobile and analytics functionalities through dedicated centers of excellence and practices,” said Reetika Joshi, research director, BPO & Analytics Strategies, HfS Research.“Genpact has made great strides in applying such capabilities to improve areas including channel management, customer insights, risk management, performance analysis, fraud and claims management. Their insurance experience helps them address critical industry trends including insurers’ increasing focus on greater customer empowerment and engagement, changing regulations, and the effects of Big Data, along with continued market volatility.”

“Our presence in HfS’ ‘Winner’s Circle’ of insurance BPO providers validates Genpact’s strategy to focus on fewer areas such as the insurance industry and deepen investments there. We are one of the few providers with strong delivery today in helping insurers with new business and underwriting support for all lines of business including risk clearance, setup, issuance, premium booking and audit,” said Scott McConnell, senior vice president and global business development leader, Insurance, Genpact. “This helps our clients successfully leverage advanced operating models to address evolving industry needs anddrive transformation of process operations, adapt cost structures, optimize controllership, and grow revenue.”

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