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Life, Annuities, and Benefits

The life insurance and benefits industry is facing challenges on multiple fronts, from slower policy growth to generational change. To keep pace, insurers must evolve along with these societal shifts. But manual, antiquated systems often stand in the way of real growth.

An aging population and new expectations from the next generation are creating new opportunities and challenges for life, annuity, and benefits carriers.

Slower life policy growth coupled with increasing premiums is challenging carriers into new products, markets and efficiency plays while employers are looking to build more robust benefit packages to attract and retain talent. Regardless of group or individual, to lead in today’s insurance market, a bold new approach is required.

Capgemini’s life insurance team provides your firm with the technologies and business skills it needs to stay ahead in the game. We can help you build advanced digital and data capabilities to create a unified customer experience, streamline operations, and retain assets.

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      How we can help

      Connect beyond the claims and build a long-term relationship with beneficiaries with proactive engagement and bridging the trust gap during the policy lifecycle.

      Through the automation of processes, agents and customers share digital capabilities to create a seamless experience. This optimizes both small and large policy pay-outs, improving efficiency and customer satisfaction.

      Care-led claims management provides beneficiaries a platform to engage with the insurer throughout the policy lifecycle, resulting in a more streamlined, personalized claims experience:

      • Prior to claim – Beneficiaries can engage with the insurer to receive education and additional value-add services. Insurers can expect higher quality beneficiary data and a closer relationship with the beneficiary.
      • At the time of claim – Beneficiaries will have a more transparent, streamlined, and personalized claim experience.
      • Post-claim – Beneficiaries have access to guided pay-out options that meet them where they are in life and provide the right value that they need. Insurers benefit from asset retention as they continue to engage beneficiaries beyond the claim to result in growth through both new and existing channels.
      Build a roadmap to transition from legacy to digital and cloud, reducing tech debt and TCO with an API wrapper, while leveraging all the benefits of leading IT solutions.

      Insurance information is often scattered across a variety of systems and transitioning to new systems can be time-consuming and risky.

      By leveraging a digital API wrapper, insurance companies can streamline their backend processes with modern technologies. Integrating legacy systems with modern processes eliminates the need to sift through numerous layers of data, delivering only relevant information. This cuts down on error and provides a more agile experience, benefiting both internal teams and policyholders, while giving carriers a roadmap to eliminating legacy technology.

      An API wrapper gives you the power to consolidate functions, decommission unnecessary legacy processes if and when you choose, and provide a unified experience for all stakeholders.

      Accelerate your ability to offer innovative products through an omnichannel experience. Empower your agents/brokers and differentiate with digital acquisition.

      Legacy distribution models are preventing life insurers and benefit providers from reaching customers quickly and efficiently.

      Digital selling accelerates your ability to offer innovative products through an omnichannel experience. API-based digital sales capabilities boost operational efficiency, improve productivity, and re-engineer purchase journeys giving your customers a seamless experience.

      With agency enablement, insurers can attract and retain top agents by giving them the tools they need to enhance their efficiency. Digital advisory via digital marketing, engagement, and collaboration tools provides support to boost productivity.

      These solutions create engaging experiences and allow you to acquire new customers and generate new revenue streams.

      Life insurance is rich in data, but legacy systems hinder insights. Data should be an asset, not a risk.

      Our data estate modernization methodology revolutionizes your data landscape, transforming it into a future-proof and agile foundation. This helps insurers boost the data value chain and manage data across silos, leveraging it as an asset and ecosystem driver.

      Our offer for data cloud includes:

      • Strategy and advisory
      • Design and build
      • Modernization
      • Cloud managed operations

      We are uniquely positioned to support your individual or group business data modernization journey, democratize, and industrialize your data estate with our suite of accelerators, frameworks, methodologies, and implementation capabilities.

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          Meet our experts

          Adam Denninger

          Global Industry Leader, Insurance

          Samantha Chow

          Global Head, Life Insurance, Annuities, and Benefits Leader, Capgemini Financial Services
          Samantha has over 20 years of experience in the L&A and A&H industries working for carriers in positions across the value chain, evaluating technology and consulting as an industry analyst, and leading the technology roadmap for policy administration systems.

          Aruna Mahesh

          Insurance Consulting and Innovation Leader
          Aruna is business leader with 23+ years of experience responsible for domain and innovation. She comes with a deep domain insurance experience encompassing core platform development, leading strategic transformation as a CTO advisor and building propositions for insurance carriers.

          Shane Cassidy

          Executive Vice President, Financial Services; Insurance Business Unit Leader
          Shane is executive vice president and head of Capgemini’s Global Insurance Business Unit. He has been at the forefront of digital disruption and innovation for two decades, identifying and developing solutions to address market trends.

          Satish Weber

          Executive Vice President, Financial Services; Insurance Sales and Go To Market Leader

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