Capgemini, a global consulting, technology and outsourcing services firm, has launched its new Platform as a Service (PaaS) offering, known as Insurance Connect, designed for the property and casualty (P&C) insurance market.
Leveraging modern technology and core processing efficiency, Insurance Connect offers end-to-end integration of "best in class" claims, policy administration and billing services for small to mid-sized carriers.
Capgemini North America Insurance vice president John Mullen said, "Capgemini’s Insurance Connect provides a compelling proposition for the small to mid-sized carrier by providing them with access to best-in-class, pre-configured core systems via a subscription-based model."
Using Guidewire InsuranceSuite, the preconfigured set of optimized services platform can be customized for specific market segments and supported in a hosted, private-cloud environment.
Available for a monthly subscription fee, the technology provides insurers with implementation, integration, maintenance and hosting in one platform, and is currently available in North America for carriers writing Non-Standard Auto insurance.
Over the next year, the company is planning to expand its availability to cover Specialty Commercial lines of business in North America and the UK.
The benefits of the technology suit encompasses access to best in class technologies, lower cost of entry, increased speed to market, predictability in total cost of operations, and a flexible subscription-based model.
Capgemini has a work force of more than 125,000 employees in 44 nations, across the globe. During 2012, the group reported global revenues of €10.3bn.