Coforge, Newgen plan to offer new solutions to insurance cos

New Delhi: IT services firm Coforge Ltd and Newgen Software on Monday have teamed up to deliver new solutions for the insurance industry. The partners will use the low-code platform to deliver solutions in insurance lifecycle management including customer communications management (CCM) and document and content management (DCM). Insurance product life-cycle management kicks in once a company comes up with an idea for a new life and annuity product, and develops a concept for it.

The partnership started in July 2022 to offer automation for insurance firms, public sector organizations, and others, on the low-code platform.

“This will steer in a new era of agility, customer-centricity, and operational efficiency for Life & Annuity (L&A) and Property & Casualty (P&C) insurers. By combining their respective strengths, the companies are uniquely positioned to address the intricacies of the insurance domain,” Coforge said in a regulatory filing.

Newgen offers a way to integrate digital processes into a business with in-built automation of processes, content services, communication management, and AI/ML capabilities. Coforge is a global digital services and solutions provider that leverages newer technologies and deep domain expertise to help its clients. The firm has 26 delivery centres across nine countries.

“This collaboration will transform critical aspects of the insurance lifecycle, including policy underwriting, administration, and servicing,” Rajeev Batra, executive vice president, and global head of insurance at Coforge, said in a statement.

Rajvinder Singh Kohli, SVP, sales, Newgen Software, believes that “Coforge’s deep domain expertise combined with our proven platforms will deliver transformational outcomes for enterprises, allowing them to achieve operational excellence, improve customer experiences, and drive continuous innovation.”

Last month Coforge launched its generative artificial intelligence platform Quasar for building enterprise AI capabilities. Quasar comes with a pre-loaded set of over 100 APIs which are readily available for integration. It has a modular and scalable architecture with several pre-built cognitive and generative use cases.