General Insurance Claims Transformation in ANZ, Driven by the NXT Era of Cloud Specialization | Tech Mahindra

General Insurance Claims Transformation in ANZ, Driven by the NXT Era of Cloud Specialization

As an insurer, have you ever embarked on a journey that none around you ventured into? A journey of optimism, uncertainty, complexity, surprises, excitement – and one that would put your name on the map that you ‘dared to dream’ and make it a reality. How did that make you feel?

The general insurance industry is faced with the challenge of a high combined ratio and a low profitability environment in the wake of the pandemic and ongoing devastation from bush fires and floods. Given this, insurers are aiming to reduce the processing costs of claims, seeking higher levels of technology return on investment (ROI) and constantly evaluating whether their IT environments are ready to get to the next level in delivering claims efficiency.

As claims technology becomes dated and less effective, real-time data insights, smarter automated decisioning, and a strong catalog of application programming interface (API) partner-integrations will dictate which providers will lead the pack. Guidewire has consistently demonstrated its leadership in general insurance claims management systems that progressive insurers around the world trust.

Tech Mahindra’s Tenzing team embarked on a journey to successfully implement a Guidewire Cloud project - the first full Guidewire InsuranceSuite implementation including ClaimCenter in the APAC region to be deployed in Guidewire Cloud. The project went live in March 2022. The success of this initiative is a result of fantastic collaboration with our client and partners. Collaborating with Guidewire experts at Tech Mahindra has enabled the customer to run their business better, change faster, and grow to new heights of success.

Empowering insurers with specializations

Guidewire specializations play a key role in providing assurance to insurers who are looking to embrace Guidewire solutions or upgrade their existing investments. Historically, service providers may have leveraged specializations from one part of the world to position themselves for new opportunities in another region. However, insurers now understand that regional specializations play a key role in ensuring the success of the initiatives they embark on. Service providers now need to demonstrate their commitment to a region by investing in their capabilities, resources, certifications, and specializations.

TechM-Tenzing : The trusted partner of choice

It was a proud moment when Guidewire recognized us for our cloud specialization in the Australia and New Zealand (ANZ) region in December 2021. Tech Mahindra and Tenzing became the first ANZ Guidewire PartnerConnect consulting partner to be awarded this in this region. This specialization is awarded through the successful demonstration of competence on multiple fronts such as technical proficiency, investment in the Guidewire practice, meeting the skill requirements from a regional perspective, and continuing to meet the minimum number of references in region.

Capabilities that add value to your business

Guidewire specializations are both regionally and globally based and require partners to demonstrate skills, knowledge, and competency in a specific Guidewire product or solution, as validated by Guidewire certification achievements. The attainment of specializations enables progressive insurers to have more clarity and insight into which partners have proven capabilities in a specific region or product. In addition, partners with specializations can better promote their capabilities across Guidewire products and solutions.

At Tech Mahindra and Tenzing, we are passionate about Guidewire and continue to invest in the region’s most capable, trusted, and respected suite of software products to help progressive insurers make their digital transformation journeys a reality.

We are on to our next journey to empower more general insurers to help transform the insurance value chain in ANZ and across the globe. We welcome you to join the journey to embrace Guidewire Cloud with our most experienced and trusted team.

About the Author
Aftab Khan
Senior Account Manager, Tech Mahindra

Aftab Khan is Senior Account Manager at Tech Mahindra with over 15 years of experience in the IT industry catering to banking, financial services, and insurance firms. Aftab completed his certificate program in strategic decision and risk management from Stanford University and holds an MBA from Hult International Business School