The companions will use a low-code platform to ship options in insurance coverage lifecycle administration similar to buyer communications administration (CCM) and doc and content material administration (DCM).
The companions intend to supply client-centric and enhanced experience for insurers working within the life and annuity (L&A) and property and casualty (P&C) segments.
Coforge and Newgen additionally plan to deal with the complexities of the insurance coverage sector in areas such because the US, the UK, Europe, the Center East, Africa, Australia and New Zealand.
Newgen focuses on delivering options similar to Insurance coverage Claims Workbench, Coverage Binding Options and the Newgen-Duck Creek, Guidewire encompass proposition.
Coforge specialises in offering transformation choices to insurance coverage enterprises throughout the globe.
The collaboration will utilise Coforge’s supply experience and Newgen’s superior options to handle difficult enterprise actions and open new choices for insurers.
Coforge Insurance coverage international head and govt vice-president Rajeev Batra mentioned: “This collaboration will remodel important elements of the insurance coverage lifecycle, together with coverage underwriting, administration and servicing.
“By harnessing the ability of Gen AI and leveraging Newgen’s CCM and DCM capabilities, paired with Coforge’s resolution capabilities, insurers can improve the effectivity of coverage issuance, speed up decision-making in underwriting and supply superior coverage administration and servicing experiences to their prospects, ushering in a brand new period of innovation and customer-centricity.”