Increasing customer satisfaction, promoting growth and reducing costs top the challenges insurance executives face today, according to a new study from Genpact Limited, a global business process outsourcing and information technology services company. These challenges are juxtaposed against the market uncertainties of the last few years and varying levels of maturity and preparedness across companies, according to Genpact.
Conducted in 2014, the research project—aimed at assessing the potential for new operating models across a spectrum of industry sectors—is based on a survey of 920 senior executives and detailed insights from 95 senior executives in the P&C insurance industry working in predominantly large companies with more than 10,000 employees in North America. The report based on the research, “Transforming insurance operations through advanced operating models,” examines the trends to better understand how enterprises are driving transformation to achieve business impact.
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