Life and annuity insurance services
Break free of legacy system challenges through digitally led, intelligent operations
Overview
We combine AI, digital technologies, and our insurance expertise to transform life insurance and annuity operations. Our unified orchestration layer transforms operational effectiveness without adding new technologies.
Featured solutions
TPA services
Our services for both active and closed books include mailroom services, new business, underwriting, actuarial support, policy owner services, contact centers, claims management, and risk and compliance.
Actuarial services
Our actuarial services include in-force action and rate filing services, projection and valuation modeling support, experience analysis, model development, modernization and maintenance, and ongoing support.
Systems of engagement
Our unified orchestration layer is a system of engagement with insurers' core legacy platforms using API integration. It acts as a single servicing platform and default workflow and orchestrates digitization and automation.
Distribution management
Our distribution management solutions enable carriers to maximize sales and increase the value of new business over the long term. We use data and advanced analytics to segment the producer base, aligning territory planning with optimal sales resource deployment, campaign activation, and management.
Underwriting services
Our underwriting triage services apply rigorous risk selection to new business and help life insurers issue policies faster. We do this by enriching traditional underwriting information with third-party data and recommending which policies are eligible for accelerated underwriting.
Cloud-led legacy modernization
We help our clients transform their legacy systems with advice on enterprise cloud strategy, cloud migration, and services to manage applications and infrastructure in the cloud. Insurers can reduce their IT operating spend and execute new digital initiatives using cloud-based architecture.
Data modernization
We fast-track your data modernization journey with our suite of pretrained, cloud-based data management accelerators. Insurers can quickly catalog, map, and consolidate data assets, automatically capture data lineage, and enable master data management solutions.
Customer experience
We help insurers craft new strategies, customer journey maps, and omnichannel CX using cloud-based contact centers. Insurers can boost the acquisition and retention of policyholders, deliver a superior customer experience, and reduce operating costs with self-serve options.
Finance and accounting transformation
We help carriers determine their finance maturity model for benchmarking and operating model redesign, integrated financial planning, and accounting analytics. Finance teams can become better business partners, spend less time on reporting and reconciliation, and implement touchless accounts payable.
LIMRA Member
Genpact is proud to be LIMRA member. Our association is a testament to our commitment towards life and annuity segment. As a member we contribute towards industry trends, challenges faced by carriers and most importantly address them to help improve operating expense reduction while driving customer satisfaction.
- Operational excellence
The Standard and Genpact: Partnering for growth and customer peace of mind
Genpact's work across the life insurance policy lifecycle creates value and enables growth for The Standard.
How we think
- Operational excellence