Genpact, an agentic and advanced technology solutions company known for its deep industry knowledge, process intelligence, as well as last-mile expertise, unveiled Genpact Insurance Policy Suite for commercial and specialty business insurance.
Part of Genpact’s Service-as-Agentic-Solutions™ portfolio, the new suite is designed to offer autonomous, AI-powered workflows to help insurers eliminate repetitive administrative work, reduce cycle time, and gain data-driven insights.
Built on Microsoft Azure AI Foundry Models and Azure Analytics Services, this suite automates underwriting support tasks, improves efficiency along with reducing cycle times. It aims to streamline the process from initial submission to policy binding, offering insurers improved speed and accuracy in their operations.
The suite consists of four modules, each with a network of specialized AI agents that classifies, extracts, and summarizes data to enhance touchless processing, detect anomalies, and rank risk to speed up decision-making and quote generation.
Genpact projects that organizations adopting the Genpact Insurance Policy Suite can expect:
- Higher underwriting capacity with up to 90% touchless submission clearance.
- Faster speed-to-market with up to 75% reduction from existing manual cycle times.
- Improved working capital with up to 50% lower costs.
According to Coherent Market Insights, the Business Process Management Market is projected to grow at a CAGR of 13.2% during 2025 to 2032. Currently, the market is at USD 23.51 Billion in 2025 and is expected to be around USD 56.00 Billion by 2032. With a strong emphasis on process automation, companies aim to boost productivity as well as streamline workflows, thus reducing time constraints. BPM also facilitates the development of customized systems, effectively minimizing the risk of human errors.
“We designed the Genpact Insurance Policy Suite with underwriters in mind so they can focus on delivering faster quotes, building better broker relationships, and increasing submission-to-bind ratios,” said Jinsook Han, Chief Strategy, Corporate Development & Global Agentic AI Officer at Genpact. “We understand how complex insurance processes and documentation can be, so we designed our solution with observability, audit trails, and role-based controls built in, giving carriers and underwriters better transparency and insights.”
“Genpact expands its industry footprint with the launch of the Genpact Insurance Policy Suite – another agentic AI product proof point that takes advantage of the robust capabilities of Microsoft’s Azure AI stack,” said Hemanth Sundararaj, Global Financial Services Industry Solution Sales Leader at Microsoft. “By using Azure AI Foundry Agent Service and Azure AI Content Understanding with Genpact’s insurance expertise and in-depth knowledge of the pre-bind process, the Genpact Insurance Policy Suite will help carriers securely accelerate cycle times, improve business performance, and enhance the experience of all stakeholders.”
Source:
News: Genpact Newsroom
Company: Genpact
