New York, NY – 13 November 2024 – Avasant’s 2024 Insurance Business Process Transformation RadarView™ has honored the US-based Genpact (NYSE: G), known for providing AI-powered solutions globally, by naming it the Leader in their report.
This recognition demonstrates Genpact’s empowerment of the entire insurance sector via the use of AI customers within the value chain in order to deliver more innovation, agility, and transformation.
According to Avasant, studies show that Genpact possesses some of the best possibilities when it comes to implementing AI, analytics, and automation techniques in the insurance industry.
If implemented, these policies would significantly influence underwriting, risk assessment, and compliance in Genpact’s core markets of North America, the UK, and the Asia-Pacific region.
Avasant reported that while executing operations and policy processing, many insurers encounter difficulties with adopting new mandates, settling claims, and maintaining reasonable expenses.
Genpact’s approach to managing insurance claims and engaging policyholders is quite practical as well as comprehensive. Winning the insurance business today requires a clear competitive advantage, which can be achieved through enhancing underwriting procedures, outstanding customer care, and efficient engagement strategies.
Generative AI applications in insurance can assist businesses with risk assessment and verification procedures in even the most complex environments.
Genpact’s strong partnerships with Genpact’s global networks enhance Avasant’s reach and understanding of the local insurance businesses as well as trends.
The company’s emphasis on innovation and automation through generative AI development has a clearly competitive advantage over its competitors and reinforces its purpose of transforming the insurance landscape through improved decision-making and sophisticated analytical approaches.
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