The liberalization of the insurance sector from state monopoly in India has resulted in the entry of several private and foreign players. While the market potential is huge, the competitive pressures are also very high.
Insurance companies are challenged with the need to maintain and build market share while strengthening customer relationships and increasing profitability. They need to develop innovative partnerships and business models that leverage core capabilities to provide unique products and services to customers.
Our unique combination of deep insurance expertise, analytics-driven methodology and IBM technology enables us to deliver significant cost-savings and process innovation. IBM administers more than $5 billion in annuity assets around the world with a staff of experienced professionals who specialize in medical, actuarial, legal, administrative, and technical processes.
IBM procurement outsourcing services for insurance companies helps you build a responsive, integrated supply chain that supports collaboration with suppliers, partners and customers to unlock savings opportunities and foster relationships across the supply chain. Our advanced analytics capabilities enable greater control over spending and compliance. And by tapping into IBM’s vast supplier base, innovation technology and proven expertise, you can control your procurement spend and increase your buying power - helping to improve your combined ratio, right now and over the long term.
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