Genpact has unveiled its new Genpact Insurance Policy Suite, an AI-powered platform designed to overhaul the management of commercial and specialty insurance policies. The suite is set to automate underwriting workflows, reduce administrative burdens, and accelerate decision-making processes, positioning it as a game-changer in the insurance sector.
The Vision Behind the Solution
The Genpact Insurance Policy Suite is part of Genpact’s Service-as-Agentic-Solutions portfolio and leverages Microsoft’s Azure AI Foundry Models and Analytics Services. It is designed with a focus on empowering underwriters to work more efficiently in a complex and fast-paced environment. According to Jinsook Han, Genpact’s Chief Strategy, Corporate Development & Global Agentic AI Officer, the solution aims to enable underwriters to deliver faster quotes, strengthen broker relationships, and improve submission-to-bind ratios.
The platform contains four key modules that deploy specialized AI agents to classify, extract, and summarize data, helping insurers detect anomalies, assess risk, and generate quotes with far more efficiency.
Key Benefits of the Genpact Insurance Policy Suite
Up to 90% Touchless Submission Clearance
The suite streamlines processes so that insurers can achieve near touchless submission clearance, dramatically reducing manual involvement.
75% Reduction in Cycle Times
By automating key workflows, the suite accelerates the underwriting process, reducing cycle times by up to 75%.
50% Lower Costs
The efficiency gains provided by AI also lead to a 50% reduction in operational costs, benefiting insurers with significant financial savings.
Future of AI in Insurance
This new AI solution represents a critical shift in the role of outsourcing firms like Genpact, who are no longer just providing back-office support but are now driving digital transformation within industries. With over 1,000 domain-specific AI models, Genpact continues to evolve its offerings to better serve the evolving needs of the insurance sector.
As Hemanth Sundararaj, Global Financial Services Industry Solution Sales Leader at Microsoft, states, this collaboration highlights how companies are embedding AI into core business processes to drive efficiencies. The use of Microsoft’s robust Azure AI stack within Genpact’s suite demonstrates the seamless integration of cutting-edge technology into the fabric of the insurance industry.
The New Role of Outsourcing Firms
The launch of this AI-powered suite signals a shift in how outsourcing firms operate. Traditionally, these firms were seen as cost-cutting partners focused on labor-driven efficiencies. Now, they are evolving into strategic enablers of transformation, delivering AI-powered solutions that not only reduce costs but also enhance agility, transparency, and overall client outcomes.
With this shift, Genpact is positioning itself as a leader in the future of insurance, helping companies scale AI to redefine workflows, improve operational performance, and stay ahead in a highly competitive market.
Conclusion
The Genpact Insurance Policy Suite marks a major leap in the way the commercial insurance industry approaches underwriting. By embedding AI into key processes, the platform not only cuts costs but improves the agility, transparency, and effectiveness of insurance operations. With Microsoft’s technology backing this evolution, Genpact is poised to play a central role in the digital transformation of the insurance sector.
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