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Capgemini has been recognized as a Leader by Avasant in its 2022–2023 edition of the Property and Casualty Insurance Digital Services RadarView™

4 Nov 2022

In this assessment, Avasant evaluated 32 providers using a rigorous methodology across three key dimensions: practice maturity, investments and innovations, and partner ecosystem. Of the 32 providers, 24 are recognized as having brought the most value to the market over the past 12 months and classified them as leaders, innovators, disruptors, and challengers.

The report also highlights key trends in the market and Avasant’s viewpoint on the direction of the property and casualty (P&C) insurance industry over the next 18 to 24 months

“Intense competition, increasing operating costs, and demand for personalized digital products have made digital technology adoption a top priority for property and casualty insurers.

Capgemini is partnering with leading insurance providers to address these challenges by leveraging its domain expertise and automation capabilities. For example, it has launched a telematics solution to help insurers with usage-based insurance programs. It has invested in Zelros, an insurtech, to leverage its artificial intelligence (AI) platform to optimize product distribution and underwriting processes. It has also partnered with CCC Intelligent Solutions to develop an image analytics offering for claims settlement powered by AI and internet of things (IoT) technologies.

Continued investment in the portfolio and collaboration with specialized players to drive innovation in the industry have placed Capgemini as a leader in Avasant’s Property and Casualty Insurance Digital Services 2022–2023 RadarView”

Gaurav Dewan, Associate Research Director with Avasant

Some of Capgemini’s key strengths highlighted in the report include:

Practice maturity 

  • In the P&C insurance practice, Capgemini strategically focuses on six areas: digital sales, touchless operations, actual risk pricing, data estate modernization, loss management optimization, and building the future enterprise.
  • Focusing on a touchless future for the insurance industry, it has built sector-specific digital solutions across the value chain. These solutions include touchless claims, touchless endorsements and submissions, customer communications management, and contact center transformation.
  • To enable an insights-driven business culture in insurance companies, it uses its extensive portfolio of analytics solutions.
  • It also helps insurance firms accelerate the time to market for their products by leveraging its automation capabilities. For instance, it built a next-generation digital architecture using automation that helped a US-based insurer reduce the time to market for its products from 28 weeks to 10 weeks.

Investments and innovation

  • Capgemini continues to invest in its product portfolio by launching new assets addressing unique industry use cases. In September 2021, it launched a telematics platform built, utilizing its IoT, 5G, and analytics capabilities, to help insurers become industry leaders in behavior-based insurance. Similarly, it is creating solutions to help insurance companies address sustainability challenges.
  • It is also expanding its pool of domain specialists, especially in leadership roles. In 2021, it hired former CEOs, CIOs, and AI leaders from insurance firms.
  • It has acquired Altran Technologies to support its technical capability and has invested in insurtech firms such as Zelros to use its AI platform for delivering efficient processes across the value chain.

Partner ecosystem

  • Capgemini has demonstrated expertise in core insurance platforms such as Guidewire, Duck Creek, and Majesco by establishing a dedicated practice for each partner. It is also leveraging its partnership with cloud service providers such as AWS, Microsoft, and Google to deliver cloud capabilities to insurers. In October 2021, it partnered with Microsoft for its Microsoft Cloud for Financial Services offering to help insurers and insurtechs innovate new products and create personalized experiences.
  • It has partnered with technology players for codeveloping industry solutions.

Click here to know more about the Avasant report.

About Capgemini

Capgemini is a global leader in partnering with companies to transform and manage their business by harnessing the power of technology. The Group is guided every day by its purpose of unleashing human energy through technology for an inclusive and sustainable future. It is a responsible and diverse organization of over 340,000 team members in more than 50 countries. With its strong 55-year heritage and deep industry expertise, Capgemini is trusted by its clients to address the entire breadth of their business needs, from strategy and design to operations, fueled by the fast evolving and innovative world of cloud, data, AI, connectivity, software, digital engineering and platforms. The Group reported in 2021 global revenues of €18 billion.

Get The Future You Want | www.capgemini.com  

Disclaimer

Avasant does not endorse any provider, product, or service depicted in its research publications, including RadarView, and does not advise users to select only those providers recognized in these publications. Avasant’s research publications are based on information from the best available sources and Avasant’s opinion at the time of publication, and their contents should not be construed as statements of fact. Avasant disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.