February 21, 2024: Newgen Software, a global provider of a unified low-code platform for end-to-end-automation at scale, announced that it has been recognized in Forrester’s Landscape report for Property and Casualty Claims Management Systems for Q1 2024.
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 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 that emerge 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.
Runki Goswami, Head of Marketing, Newgen Software, says, “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 gamechangers 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.”
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 in-depth insights, 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.