New Delhi, India, February 04, 2014: Mindtree, a global technology solutions company, is named as a “Major Contender” in Everest Group’s report IT Outsourcing in Insurance – Service Provider Landscape with PEAK Matrix Assessment 2013. The report is part of Everest Group’s “BFSI IT Outsourcing” research.
The 2013 PEAK Matrix for Insurance AO is based on more than 400 large multi-year insurance AO contracts signed by 25+ global service providers. The PEAK Matrix is a framework to assess the relative market success and capability of service providers. Service providers are positioned based on two dimensions:
Market success measured by the number, scale, and growth of large insurance AO contracts
Delivery capability measured by scale of operations, scope, domain investment, delivery footprint, and buyer satisfaction for the specific services covered
Gaurav Johri, Senior Vice President, BFSI, Mindtree said, “The insurance industry is in the midst of an unprecedented technology-led transformation. Mindtree’s investments in big data, digital and BPM combined with the ability to deliver globally is putting our clients at the forefront of this wave. Our solutions are helping insurers grow their businesses by managing the underwriting risk more effectively and leveraging digital distribution channels to the fullest.”
Jimit Arora, Vice President, IT Services Research, Everest Group said, “Our research shows that select Major Contenders are augmenting their insurance AO delivery capabilities at a fast pace and witnessing congruent market success. Mindtree demonstrated strong growth in its insurance AO practice through contract extensions/renewals of existing deals, indicating successful relationships with existing clients. Mindtree’s continued investments in frameworks and solutions also contributed to its success in the insurance AO marketplace”