Genpact to Help Ironshore Iron out Operational Creases

By Mini Swamy
TMCnet Contributor

Business process and technology management provider Genpact (News - Alert) Ltd. has signed a seven year agreement to help standardize and manage Ironshore's insurance back-office operations.

Genpact will use its domain expertise in insurance operations and adopt a holistic key end-to-end business processes approach to build centers of excellence for Ironshore and deliver cost-effective and customer-focused administrative operational processes and IT functions, according to company officials.

"We are honored that Ironshore has entrusted Genpact to drive a comprehensive business process and technology transformation effort for their insurance operations," said Mohit Thukral, senior vice president and global business leader at Genpact, in a press release.

This rather unprecedented, partner-led business process transformation in the insurance industry is expected to help Ironshore streamline processes, accelerate investments, increase cost efficiency and more importantly allow it focus on growth and expansion into new markets.

Mitch Blaser, CFO/COO at Ironshore Inc., commenting on the partnership, said in a press release, "Ironshore has developed this relationship with Genpact to allow us to continue to transition to a centralized operations model which will realize efficiencies across all of our global operations and provide a scalable support platform poised for growth."

Genpact will service Ironshore's global operations in the United States, Canada, Bermuda, the United Kingdom and Ireland with plans to make inroads into other regions.