Newgen Recognized in an Analyst Report on P&C Claims Management Systems Landscape
Newgen's solution for Property & Casualty Claims Management recognized among notable vendors
The report is based on an extensive overview of 26 service providers for P&C claims management and acknowledges the priority areas for companies seeking P&C insurance, as well as the core capabilities of the participating vendors.
Forrester asked each vendor included in the Landscape to select the top use cases for which clients select them and, from there, determined which are the extended use cases that highlight differentiation among the vendors.
Newgen has identified orchestration of third parties, leakage mitigation, and analytics and reporting as the top three use cases that make it a preferred partner.
The market trends from the study point towards AI and generative AI as the top disruptors that will provide a competitive advantage to claims and technology delivery players.
"Newgen is geared to be the trusted P&C claims management partner for commercial insurers with its radical predictive analytics, automated decision engine, and ability to support a broad claims ecosystem. Automation and AI capabilities are the game-changers for P&C insurance, and NewgenONE Marvin, the GenAI add-on for our low-code platform, ensures that we offer smarter risk management by adapting prices and coverage in real-time," said Runki Goswami, Global Head of Marketing, Newgen.
Forrester's report defines the P&C claims management system as 'a system of record that manages the lifecycle of a property or casualty insurance claim, from first notice of loss, settlement of the loss with the claimant, and subrogation/recovery activities with third parties.'
For an in-depth insight, read Forrester's 'The P&C Claims Management Systems Landscape, Q1 2024' report. Learn about how Newgen transforms the property and casualty claims management service here.
About Newgen
Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, communication management, and AI/ML. Globally, successful enterprises rely on Newgen's industry-recognized low-code application platform to develop and deploy complex, content-driven, and customer-engaging business applications. From onboarding to service requests, lending to underwriting, and many use cases across industries, Newgen unlocks simple with speed and agility.
For more details, visit www.newgensoft.com.
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SOURCE Newgen Software Technologies Ltd.
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