Genpact's advanced pricing automation workflow
integrates generative AI to accelerate claims submission process
from weeks to days
NEW
YORK, Nov. 29, 2023 /PRNewswire/ -- Genpact
(NYSE: G), a global professional services firm focused on
delivering outcomes that transform businesses, announced it is
working with Amazon Web Services (AWS) and Amazon Business to
introduce a transformed approach to property loss replacement and
claims management.
"AI is fundamentally reshaping the
landscape of the insurance industry," said Sameer Dewan, Global Operating Officer,
Genpact.
Genpact is leveraging its extensive claims management expertise
as well as Amazon Bedrock generative AI capabilities and Amazon
Business procurement API integrations, including pricing
information, to reduce the claims submission process from weeks to
days. This initiative is streamlining replacement item
identification and enabling more efficient and timely delivery of
policyholder estimates. Amazon Bedrock is a fully managed service
that provides access to foundation models (FMs) from leading AI
companies through an application programming interface (API) to
build and scale generative AI applications.
"AI is fundamentally reshaping the landscape of the insurance
industry," said Sameer
Dewan, Global Operating Officer, Genpact. "Our
Genpact AI-driven automated pricing workflow, powered by AWS, is
transforming the research, significantly reducing the time
adjusters spend investigating by as much as 75 percent. By
automating routine tasks and enhancing decision making, our AI
solution is empowering smarter pricing decisions, expediting claims
settlements, and bringing about a profound transformation in the
customer experience."
Genpact is committed to delivering measurable value to its
clients through ongoing innovation. In the future, the company
plans to integrate additional AI services into the automated
workflow to introduce enhanced features. These include real-time
summaries of market values for claimed contents and optimal action
recommendations for further processing.
For comprehensive information on Genpact's insurance services,
visit: Genpact Insurance Services
About Genpact
Genpact (NYSE: G) is a global
professional services firm delivering the outcomes that transform
our clients' businesses and shape their future. We're guided by our
real-world experience redesigning and running thousands of
processes for hundreds of global companies. Our clients – including
many in the Global Fortune 500 – partner with us for our unique
ability to combine deep industry and functional expertise, leading
talent, and proven methodologies to drive collaborative innovation
that turns insights into action and delivers outcomes at scale. We
create lasting competitive advantages for our clients and their
customers, running digitally enabled operations and applying our
Data-Tech-AI services to design, build, and transform their
businesses. And we do it all with purpose. From New York to New
Delhi and more than 30 countries in between, our 115,000+
team is passionate in its relentless pursuit of a world that works
better for people. Get to know us at Genpact.com and on LinkedIn,
Twitter, YouTube, and Facebook.
MEDIA CONTACT:
Sue
Martenson
Genpact Media Relations
+1 978
905 9582
Susan.martenson@genpact.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/genpact-works-with-aws-and-amazon-business-to-redefine-insurance-claims-lifecycle-302001274.html
SOURCE Genpact