MajescoMastek and Genpact announced a new strategic partnership focused on the insurance industry. The partnership leverages 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 plan on developing platform-based business process management solutions including policy services, billing, claims, distribution management, and new business/underwriting.
By joining forces, MajescoMastek and Genpact can leverage process efficiencies and innovative technology in a cost-effective and cost-certain model.
"MajescoMastek has always been focused on bringing transformational solutions to the insurance industry," says Mike Dufton, president of MajescoMastek North America. "This partnership with Genpact is another step in that direction. 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 insurance industry has been searching for a solution that combines industry-leading business process management capabilities with state-of-the-art asset-based offerings," says Mohit Thukral, senior vice president and business leader, financial services, Genpact. "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."
(To read what Billy McCarter, senior vice president of delivery for MajescoMastek, thinks about internal issues facing insurers following the selection of a new software system, click on this Virtual Viewpoint. )
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