Genpact and Donegal Insurance Group® to Elevate Commercial Lines Underwriting Efficiency with Guidewire Solutions

Rhea-AI Summary

Genpact has announced a strategic partnership with Donegal Insurance Group to enhance the efficiency of its commercial lines underwriting operations using Guidewire Software. The collaboration aims to streamline processes, reduce costs, and improve user and customer experiences. Genpact's platform advisory team is helping Donegal maximize its Guidewire platform to address challenges such as rising customer expectations and complex data management.

The partnership is expected to yield significant results, including increased underwriting availability and improved straight-through processing rates. By reducing manual processes and optimizing workflows, Donegal is modernizing its operations to streamline underwriting and reduce error rates. This collaboration showcases how advanced technologies and industry expertise can transform traditionally manual and complex processes like underwriting.

Positive

• Strategic partnership between Genpact and Donegal Insurance Group to enhance commercial lines underwriting efficiency
• Expected significant increase in underwriting availability
• Anticipated improvement in straight-through processing rates
• Reduction of manual processes and optimization of workflows
• Modernization of operations to streamline underwriting and reduce error rates

Negative

• None.

Genpact implemented a targeted solution expected to boost straight-through processing rates significantly

NEW YORK, Sept. 25, 2024 /PRNewswire/ -- Genpact (NYSE: G), a global professional services and solutions firm delivering outcomes that shape the future, has announced a strategic partnership with Donegal Insurance Group (NASDAQ: DGICA) that will further enhance the efficiency and effectiveness of its commercial lines underwriting operations. This partnership builds on Guidewire Software, a platform designed for P&C (property and casualty) insurers to streamline processes, reduce costs, and elevate both user and customer experiences.

"Insurers are facing significant challenges such as rising customer expectations, increased competition, and complex data management," said Suhas Sethi, Global Business Leader for Insurance, Genpact. "By optimizing underwriting processes, we can enhance efficiency and accuracy while improving the customer experience. Genpact's platform advisory team aims to help Donegal maximize its Guidewire platform to achieve these goals."

Genpact's partnership with Donegal is on track to yield impressive results, including a significant increase in underwriting availability and a leap in straight-through processing rates. Together, Genpact and Donegal are committed to driving operational efficiency by reducing manual processes, optimizing workflows, and improving the overall integration and utilization of Guidewire's suite of applications.

Like other carriers, Donegal faced challenges with inefficient, manual workflows that limited capacity and hindered their Guidewire software's potential. By partnering with Genpact, Donegal is modernizing its operations with technology solutions designed to streamline underwriting and reduce error rates.

"Genpact's deep understanding of insurance workflows and its expertise with the Guidewire platform has been instrumental in helping Donegal transform our commercial lines underwriting processes," said Ryan Bradley, Vice President of Commercial Underwriting Operations, Donegal Insurance Group. "This partnership has greatly improved our ability to process more policies, cut down on administrative inefficiencies, and ultimately provide a better experience for both our employees and our customers."

This collaboration between Genpact and Donegal showcases how advanced technologies, combined with deep industry expertise, can create transformative results in a traditionally manual and complex process like underwriting. Guidewire's platform enables insurers to modernize and adapt to market changes swiftly, ensuring a seamless experience for both insurers and their customers.

For more about Genpact's services and solutions for the insurance industry, visit here. 

About Genpact

Genpact (NYSE: G) is a global professional services and solutions firm delivering outcomes that shape the future. Our 125,000+ people across 30+ countries are driven by our innate curiosity, entrepreneurial agility, and desire to create lasting value for clients. Powered by our purpose – the relentless pursuit of a world that works better for people – we serve and transform leading enterprises, including the Fortune Global 500, with our deep business and industry knowledge, digital operations services, and expertise in data, technology, and AI.

Get to know us at genpact.com and on LinkedIn, X, YouTube, and Facebook. 

MEDIA CONTACT:

Sue Martenson
Genpact Media Relations
+1 978-905-9582
susan.martenson@genpact.com 

 

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SOURCE Genpact Ltd.

FAQ

What is the purpose of Genpact's partnership with Donegal Insurance Group (DGICA)?

The partnership aims to enhance the efficiency and effectiveness of Donegal Insurance Group's commercial lines underwriting operations using Guidewire Software, streamlining processes and improving user and customer experiences.

How will the Genpact and Donegal Insurance Group (DGICA) partnership improve underwriting processes?

The partnership is expected to increase underwriting availability, improve straight-through processing rates, reduce manual processes, optimize workflows, and enhance the overall integration and utilization of Guidewire's suite of applications.

What challenges does the Genpact and Donegal Insurance Group (DGICA) partnership address?

The partnership addresses challenges such as rising customer expectations, increased competition, complex data management, and inefficient manual workflows that capacity and hindered Guidewire software's potential.

Who is leading the commercial underwriting operations for Donegal Insurance Group (DGICA) in this partnership?

Ryan Bradley, Vice President of Commercial Underwriting Operations at Donegal Insurance Group, is leading the commercial underwriting operations in this partnership with Genpact.