Genpact, a global professional services firm focused on delivering digital transformation for clients, today announced that it has acquired OnSource, provider of a leading Inspection-as-a-Service (IaaS) product for property and casualty (P&C) insurance carriers and their customers. This transaction builds upon Genpact’s recent acquisition of BrightClaim and National Vendor that has significantly expanded the company’s U.S. claims management capabilities. Terms of the deal are not disclosed.
As part of its ongoing strategy to drive digital-led innovation and digitally-enabled intelligent operations for clients around the world, Genpact is investing in leading technologies that reimagine the customer experience and radically change how companies compete. OnSource uses advanced technologies – such as real-time browser-based communication, self-service applications, and drones – to put consumers in control of their insurance claims and fundamentally transform the process for insurance carriers.
The OnSource IaaS product will leverage Genpact Cora, Genpact’s artificial intelligence-based digital platform. The integration of Genpact Cora and the OnSource product into Genpact’s end-to-end claims management capabilities will allow carriers to seamlessly write accurate estimates and manage supplements in a much quicker and more collaborative manner, resulting in significantly higher customer satisfaction.
The OnSource IaaS product offers carriers various innovative benefits, including:
Self-service applications: intuitive smartphone apps that capture HD photos, videos, and written descriptions;
On-demand field service: immediate response inspection model utilizing more than 17,000+ photo field inspectors; and
Unmanned Aerial System (UAS): cutting-edge drone technology for use in property claims and other use cases when an aerial view is needed.
“Insurance carriers have been struggling to improve upon the costs, capacity, and cycle time associated with traditional methods of obtaining appraisals in order to meet ever-increasing customer demands for ease and speed,” said Sasha Sanyal, senior vice president, Insurance, Genpact. “OnSource’s innovation and ability to disrupt insurance claims operations to both save insurance carriers time and resources, and provide a seamless customer experience, is a critical addition to our digital-led insurance service offerings.”
“With Genpact’s comprehensive claims management capabilities, we are excited to join the team to deploy our products for many more insurance carriers,” said Tim Schneider, chief executive officer, OnSource. “We know that the industry is ready for these capabilities, and the traction of our digital inspection product proves that it drives significant efficiencies for carriers and exceeds customer expectations in the claims and pre-insurance inspection processes.”
Founded in 2011, OnSource further expands Genpact’s U.S. operations with this acquisition.