CIO Influence
AIOps CIO Influence News Digital Transformation

Genpact Partners with Claim Genius to Future Proof Claims Management for P&C Insurers

Genpact Partners with Claim Genius to Future Proof Claims Management for P&C Insurers
Partnership leverages AI, Data and Analytics to create a seamless ecosystem that makes the promise of touchless claims a reality

Genpact, a global professional services firm focused on delivering digital transformation, announced its Claims Manager platform is now integrated with Claim Genius, the insurance industry’s full-service, AI-based claims solution for auto insurance, paving the way for one of the industry’s most intelligent, frictionless claims process.

“Genpact’s Claims Manager is a great example of how different technology combinations must fit together to solve a specific business challenge from beginning to end. The solution not only helps automate and streamline the insurance claims process but makes it more intelligent through the use of AI and analytics,” said HFS Research analyst Reetika Fleming, who leads analytics, insurance, and finance and accounting research. “Genpact’s broad integration and expansion of its Claims Manager offering connects the dots for the industry, helping to provide a more seamless approach to the entire process of managing claims.”

Top iTechnology Security News: Lacework Partners with Google on Cloud Security and Announces Investment from GV

Insurers’ claim operations typically involve manual processes and legacy systems, and lack integration across carriers and vendors. For example, insurance companies spend substantial money and resources on investigating, processing, and settling auto claims through a variety of manual and partially automated channels that don’t always connect or communicate efficiently. This process is not just cumbersome for adjusters, but creates significant dissatisfaction for customers at the exact time when they most need their insurance company to be responsive and helpful.

Genpact’s Claims Manager, powered by Genpact Cora, streamlines these complexities across the entire claims lifecycle to improve quality of service and allow adjusters and managers to serve the customer more effectively and efficiently. Claims Manager, brings together the latest technologies, data and advanced analytics to aid these improved outcomes. With the integration of Claim Genius and its enhanced AI capabilities, Claims Manager will be able to offer seamless virtual auto inspections reducing processing time and cost up to 50%. These step change improvements will have a direct impact on improving both the adjuster and customer experience.

“The insurance industry has been evolving swiftly on the tail of the pandemic, to remain agile and competitive in this newly tech-led field, companies need to embrace digital transformation. To better serve customers around the world, insurers can rely on Genpact’s advanced claims management offering to drive better experience while being more effective and efficient in the entire claims process,” said Sameer Dewan, Genpact’s global business leader for insurance. “Our relentless pursuit of optimizing the experience for claims managers, adjusters, and customers begins with our rich partner ecosystem to create powerful and tangible combinations of data and technological advancements.”

Top iTechnology Automation News: Glasswall Extends Premier Partner Programme, Bringing its Content Disarm and Reconstruction (CDR) Solutions to Cybersecurity Markets Across Europe

The addition of Claim Genius to the claim service ecosystem extends the capabilities and depth of innovation Genpact’s Claim Manager offers insurers, including:

  • Straight-through processing and low-touch claims handling through remote inspections and automated estimates
  • AI and advanced analytics enabling early identification of severity, subrogation, fraud recognition, and litigation
  • Full claim lifecycle workflow and dynamic operations management enabling service level agreement tracking and monitoring, as well as enforcing compliance
  • Open architecture for ease of integration and connection with client and partner applications, systems, and platforms
  • Increased management visibility and insights into operations
  • Access to continuing innovations in computer vision and machine learning advances with the Claim Genius partnership

“Our vision is to make touchless claims a reality and we want to work with the best in the insurance ecosystem to help solve for the many challenges facing the insurance industry,” said Raj Pofale, Founder & CEO, Claim Genius. “Integrating our proven and powerful AI engine with Genpact’s Claims Manager will give insurance companies an agile and intelligent system with a significant upside in efficiency and accuracy to enhance the customer experience and claim outcomes. It’s a win-win for everyone.”

With the continued pressures on carriers to innovate and automate in order to better adjudicate, it is important to partner with companies offering ways to accelerate what is possible. Genpact’s growing ecosystem and its Cora platform represent that connection companies need to better serve customers, compete in the marketplace, and deliver on ever increasing expectations.

Top iTechnology Cloud News: Appgate Announces Cloud-Native Zero Trust Functionality to Protect Kubernetes Workloads

[To share your insights with us, please write to sghosh@martechseries.com]

Related posts

Tequity Advises SaaS Supply Chain ERP Provider, Blue Link Associates, on Strategic Acquisition by Cordance

PR Newswire

MetricStream Launches Advanced Cyber Risk Quantification, Risk Assessment and Compliance Management Capabilities

CIO Influence News Desk

Ingram Micro Achieves AWS Premier Tier Services Partner Status in the AWS Partner Network

Business Wire

Leave a Comment