The Insurance industry is facing significant economic and competitive pressures, with consolidations and downgrades escalating and continuing competition from other financial services segments. In addition, the regulatory climate remains challenging and uncertain. Regulatory oversight changes and new compliance deadlines loom on the horizon. In spite of this volatile business climate, insurers must continue to find ways to improve bottom-line operational efficiency and drive top-line growth, meeting the needs and expectations of customers and distributors while responding to increasing demands for business transparency.
How iGATE Can Help You
iGATE has enabled insurance companies to defy challenges and improve business performance. For the last 30 years, we have drawn on the full breadth of our domain expertise and technological capabilities to help insurance companies implement solutions designed to deliver business outcomes. Our unique Integrated Technology-Operations (iTOPS) approach offers a business outcome-based model thus adding certainty to the clients’ business; enabling them to derive maximum value at increasing business efficiency levels. The iTOPS approach means a ‘one view’ on our clients’ technology and operations, which helps in following a synergistic approach to achieve business benefits.
For Health Insurance Carriers, iGATE provides Full-Service Insurance Administration through CHCS Services, Inc. leveraging proprietary platform, licenses across all states in the Americas, and variable cost model. The variable model bundles in cost of application, infrastructure, people and processing in a "Per Member, per Month" construct or Cost per Policy, Cost Per claim construct.
iGATE - one of the largest full spectrum service providers for the Insurance industry, has developed IT Services, Infrastructure Management and Business Process Outsourcing solutions that enable insurers to grow their business while streamlining operations and remaining compliant. We assist our clients in achieving real differentiation through:
End-to-End Insurance Solutions from iGATE
Our IT consulting and insurance software solutions span across insurance lines of business including Life & Annuities, Property & Casualty/General Insurance, Reinsurance, and Healthcare. Over 5000+ dedicated personnel in the IGATE Insurance & Healthcare practice have deep domain understanding, expertise on legacy and modern technologies and systems, and experience implementing industry standards such as ACORD and ANSI X-12.
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Track Record for Client Success
Five of the top global insurance companies work with iGATE to overcome complex business challenges in the areas of new product introduction, policy administration, policy conversion, QA testing, claims, and distribution and channel management. We have accumulated more than 14,000 person years of experience by servicing customers via professional services, package implementation / customization of policy administration platforms such as ALIP, Transcend, Ingenium, Dragon, and COMPASS, application consolidation and modernization, application development and maintenance services, and business process outsourcing.