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Global IT professional services firm Genpact revealed Aug. 2 that it has acquired OnSource, provider of a specialized cloud-based service for property and casualty insurance carriers and their customers. Terms of the deal are not disclosed.
In the insurance business, this particular cloud software is known as Inspection-as-a-Service (IaaS)—not to be confused with Information-as-a-Service or Infrastructure-as-a-Service, more commonly known acronyms.
This transaction builds upon Genpact’s recent acquisitions of BrightClaim and National Vendor, which have expanded the company’s U.S. claims management capabilities.
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 use 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 write accurate estimates and manage supplements in a quicker, more collaborative manner.
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.
Genpact has clients from the Fortune Global 500 and employs more than 77,000 people in 20 countries, with key offices in New York City, Palo Alto, London and Delhi. More information about OnSource is available here.