Genpact and MajescoMastek Partner for the Insurance Industry

Genpact, a global provider of business process and technology management, and MajescoMastek, the U.S. subsidiary of global technology solutions provider Mastek Limited, announced a new strategic partnership focused on the insurance industry.

The Companies noted the partnership brings a new model to help transform insurance carriers’ operations, leveraging both business process management and technology solutions.

The companies will offer joint information technology and business process management solutions to large and mid-sized insurance carriers. In addition, both parties said they plan on developing platform-based business process management solutions across the industry value chain including policy services, billing, claims, distribution management, and new business/underwriting.

“MajescoMastek has always been focused on bringing transformational solutions to the insurance industry. This partnership with Genpact is another step in that direction,” said Mike Dufton, president of MajescoMastek North America. “Together, we can move to provide solutions that solve entire business problems while giving carriers cost certainty with business models that let us share in the risk with our clients – something they have been asking vendors to do for some time now.”

“The combination of business process management with proven IT solutions offers a very compelling value proposition to these insurers,” comments Matthew Josefowicz, Novarica’s director of the insurance practice.

“The insurance industry has been searching for a leading solution that combines industry-leading business process management capabilities with state-of-the-art asset-based offerings,” said Mohit Thukral, senior vice president and business leader, financial Services, Genpact Ltd. “Our partnership with MajescoMastek has been met with enthusiasm from our mutual customers and we believe it will be a true differentiator in the insurance marketplace.”

Genpact is a global provider of business process and technology management, offering a broad portfolio of enterprise and industry-specific services.

MajescoMastek is a global supplier of technology solutions focused on Life & Annuity carriers, Property & Casualty carriers and Capital Market firms.