Genpact Acquires BrightClaim for End-to-End Claims Management Expertise

The deal adds U.S. onshore claims-related capabilities and domain expertise from BrightClaim and National Vendor, including delivery centers in Atlanta, Ga. and Austin, Texas.

(Atlanta skyline by Anish Patel.) 

Genpact (Hamilton, Bermuda), a global professional services firm, has acquired BrightClaim (Atlanta) and its associated company National Vendor, both providers of claims solutions to the U.S. property/casualty insurance market. The vendor describes the acquisition as marrying domain expertise with advanced technologies to fundamentally change how insurers manage the claims process, allowing carriers to create a seamless claims experience for their customers. Morgan Partners acted as an advisor to Genpact on the transaction. Genpact did not disclose the terms of the deal.

Mohit Thukral, SVP, Banking, Financial Services and Insurance, Genpact.

Mohit Thukral, SVP, Banking, Financial Services and Insurance, Genpact.

BrightClaim and National Vendor specialize in property claims management for both structural and contents losses. Their services include loss adjusting, contents management services, end-to-end management of liability claims and managed repair services through a national contractor network. BrightClaim and National Vendor have a large client base including half of the top 20 auto and property insurers and an extensive network of insurance adjusters, according to a Genpact statement. As part of the transaction, Genpact will acquire delivery centers in Atlanta, Ga. and Austin, Texas, increasing its U.S. footprint.

“A growing digital-native customer base and the ubiquity of data are driving the need for innovation at an unprecedented pace and fundamentally changing the insurance claims operating model,” comments Mohit Thukral, senior VP and business leader, Banking, Financial Services and Insurance, Genpact. “With the added U.S. onshore capabilities and domain expertise from BrightClaim and National Vendor, we are enhancing our ability to help insurance clients infuse digital technologies and analytics into their operations to create a sustainable competitive advantage for them.”

A Genpact statement suggests that the acquisition will strengthen the vendor’s ability to address deficiencies in the typical claims process, which Genpact notes involves numerous touch points and manual interventions and lacks real-time analytical insights that drive decision making. This set of challenges causes long claims cycle times, higher settlement costs, and a lack of transparency for customers throughout the claims process, the vendor says. With its own analytics and digital capabilities and the deep insurance claims expertise integrated from BrightClaim and National Vendor, Genpact asserts that it will be able to provide solutions that will:

  • reduce overall claims costs by up to 40 percent through its Lean process design, digital technologies and smart shore delivery model;
  • improve customer experience and satisfaction by 10-20 percent through multi-channel intake, automated status updates, and proactive communication, with process design and system automation that enable faster processing and settlement; and
  • reduce loss cost by 3-5 percent through improved recovery and fraud prevention that leverage predictive analytics.

“We are looking forward to joining Genpact and combining our solutions with their digital-led intelligent business process management capabilities, existing claims management services expertise, analytics, and global delivery to provide true end-to-end claims services,” comments Howard Rogers, CEO, BrightClaim. “Together we will help transform P&C claims for our growing client base.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

Comments (2)

  1. This is an interesting paring – the innovative, lean six sigma, technology driven culture of Genpact with the old school, inefficient, legacy Crawford leadership at Bright Claim. Genpact will also be in for a shock dealing with the cyclical nature of the property claims business. Bright Claim probably had a good 2016 based on CATS and flooding, but I’m sure they were like the rest of the property claims services industry and had tough fiscal 2014 and 2105. Good time for them to sell.

  2. This is a unique paring – lean, six-sigma, innovative thinking Genpact with old-school, minimal technology, legacy Crawford leadership at Bright Claim. Also, Genpact will be in for a surprise with the cyclical nature of the property claims adjusting business.

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