Genpact and MajescoMastek, the US subsidiary of Mastek, have signed a strategic partnership focused on the insurance industry. The partnership brings a new model to help transform insurance carriers’ operations, leveraging both business process management and technology solutions.

The companies will offer joint information technology and business process management solutions to large and mid-sized insurance carriers. In addition, both parties plan on developing new platform-based business process management solutions across the industry value chain including policy services, billing, claims, distribution management, and new business/underwriting.

Mike Dufton, president of MajescoMastek North America, said: “This partnership with Genpact is another step in that direction. Together, we can move to provide solutions that solve entire business problems while giving carriers cost certainty with business models that let us share in the risk with our clients ,something they have been asking vendors to do for some time now.”

Mohit Thukral, senior vice president and business leader, at financial services at Genpact, said: “The insurance industry has been searching for a leading solution that combines industry-leading business process management capabilities with state-of-the-art asset-based offerings. Our partnership with MajescoMastek has been met with enthusiasm from our mutual customers and we believe it will be a true differentiator in the insurance marketplace.”