Genpact Insurance Services Ranked in "Winner's Circle" of Industry Analyst Firm HfS Analyst rating due to excellent delivery execution and process innovation in business process outsourcing
NEW YORK, May 20, 2014 /PRNewswire/ -- Genpact Limited (NYSE: G), 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 strengths 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 and drive transformation of process operations, adapt cost structures, optimize controllership, and grow revenue."
The HfS Research Blueprint on insurance BPO, including additional data about Genpact's positioning in the "Winner's Circle," is available at http://www.genpact.com/docs/resource-/hfs-blueprint-report-insurance-bpo-excerpt-for-genpact.
About HfS Research
HfS Research is the leading independent global analyst authority and knowledge community for the business and IT services industry. HfS serves the research and strategy needs of business and IT operations leaders across finance, supply chain, human resources, marketing, customer management, and core industry functions. HfS provides detailed and thoughtful analyst coverage of the various areas that impact successful business outcomes, namely, process automation and outsourcing, global business services frameworks, mobility, analytics, and social collaboration. HfS also focuses heavily on talent acquisition, development, and motivation strategies. HfS applies its acclaimed crowdsourced Blueprint MethodologyTM to evaluate the performance of service providers in terms of innovating and then executing against those business outcomes.
Genpact Limited (NYSE: G) is a global leader in transforming and running business processes and operations, including those that are complex and industry-specific. Our mission is to help clients become more competitive by making their enterprises more intelligent through becoming more adaptive, innovative, globally effective and connected to their own clients. Genpact stands for Generating Impact – visible in tighter cost management as well as better management of risk, regulations and growth for hundreds of long-term clients including more than 100 of the Fortune Global 500. Our approach is distinctive – we offer an unbiased, agile combination of smarter processes, crystallized in our Smart Enterprise Processes (SEPSM) proprietary framework, along with analytics and technology, which limits upfront investments and enhances future adaptability. We have global critical mass – 64,000+ employees in 24 countries with key management and corporate offices in New York City – while remaining flexible and collaborative, and a management team that drives client partnerships personally. Our history is unique – behind our single-minded passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 15 years. For more information, visit www.genpact.com. Follow Genpact on Twitter, Facebook, and LinkedIn.
SOURCE Genpact Limited