Bengaluru, NFAPost: WNS (Holdings) Limited, a leading provider of global Business Process Management (BPM) services, announced that it has been recognised as a ‘Leader’ and ‘Star Performer’ in Everest Group’s 2020 PEAK Matrix for Property and Casualty (P&C) Insurance BPO.
This is the sixth consecutive year WNS has been named a ‘Leader’ in Everest Group’s report, which assesses the overall vision and capability, and market impact of service providers in the property and casualty insurance industry.
WNS was cited for its focused ability to differentiate through domain expertise, resulting in successful wins for consulting-led, end-to-end operating model solutions.
The report also highlights WNS’ digital investments and capabilities, including the ability to actualize automation projects, the company’s blockchain-based “VeriChain” solution, and its “Insurance-in-a-Box” offering which combines operations and technology to drive transformation.
In addition, the assessment notes WNS’ year-over-year double-digit growth rate, expanding client portfolio in North America and APAC, and specialized domain-intensive expertise in actuarial services, risk management and the Lloyd’s syndicate.
WNS Group CEO Keshav R. Murugesh said WNS continued recognition as a “Leader” in the P&C space is a testament to the company’s domain focused approach, targeted strategic investments and solid execution.
“Our expanding capabilities across domain, technology, analytics and process coupled with a consulting-led digital operating model have positioned us to help clients manage accelerating business disruption and improve competitive positioning. Our previously announced strategic partnership with a new-age insurer is a perfect example of WNS’ ability to co-create unique, end-to-end BPaaS operating models designed to help create a “next generation” insurance company,” said WNS Group CEO Keshav R. Murugesh.
Everest Group Practice Director Skand Bhargava WNS has differentiated, domain-centric positioning in the P&C insurance BPO market, with offerings and capabilities that cover the full insurance value chain.
“Its investments in enhancing its digital stack, upskilling its talent, and expanding its delivery locations – both offshore and onshore – are reflected in its rapid growth in 2019. And, WNS has further solidified its presence in the North America, UK and Asia Pacific markets through new client wins,” Everest Group Practice Director Skand Bhargava.
WNS’ thought leadership in the insurance space is underscored by a recent WNS DecisionPoint report, which highlights COVID-19’s impact on the insurance industry. The report discusses the challenges associated with lower premiums and higher claims, and how Analytics-embedded solutions are the key to setting future premiums and re-designing policies by incorporating a pandemic variable.
WNS partners with global insurance and re-insurance clients, providing end-to-end solutions across the entire insurance value chain. The company helps conceptualize and “co-create” state-of-the-art, innovative business models that address and drive disruption in today’s insurance industry.
In addition, WNS has delivered significant business value to global insurers through analytics centers of excellence addressing insurance-specific functional areas including financial reporting, cognitive data capturing and processing, broker profiling, fraud analytics, loss prediction, a cloud-based and self-serve business intelligence analytics platform, NPS prediction, CAT modelling, AI-led social media analytics, pricing analytics and liability prediction.