Life, Annuity & Retirement Solutions: Rapid Product Development Genpact’s commitment to process development, combined with our pragmatic reengineering and innovative analytics, enable companies to achieve rapid and successful product launches through our delivery of needed actuarial services, market assessment, competitor mapping and pricing models. Our Approach Genpact’s approach is based on unparalleled depth and breadth in off-shore product development support. We have over 10 years experience in using industry leading tools such as SAS, PTS, APL, UNICA, Siebel, Knowledge Seeker, MG ALFA, Profit, Hyperion, Essbase and Cognos. By providing treaty pricing support, we have helped actuaries and underwriters in building reinsurance pricing applications. Our support also extends to business research for market trends and analysis of countries, lines of business and competitors to aid in new product development. We put a strong emphasis on human capital development with industry leading practices and execution that drive best in class attrition results. This emphasis on employee development includes established actuarial development programs supporting India, UK, and US exams with more than 100 associates enrolled. This kind of dedication is seen throughout our team of associates with over 200 analysts working in insurance across marketing, research, risk management and actuarial. Associates have 5-plus years experience and over 90 percent of analysts have an advanced degree in quantitative sciences or management. Our overall commitment utilizes our end-to-end thinking to deliver business impact for Life and Annuity companies. We provide a gain share mechanism for incentives that create real impact and a commitment to baseline as well as year on year productivity. These services, enhanced by standardization, benchmarking, reengineering and analytics bring value to our offerings with increased efficiency delivering strong controllership and compliance. Client Successes A major Life and Annuity insurer was facing challenges in getting new products quickly to market that led them to fall behind their competition. Genpact helped develop and implement a ‘product optimizer’ to model the right product mix and maximize the value of a net income stream. The Optimizer included functionality to incorporate business constraints, capital and solvency constraints, yearly ROE requirements and to project stock prices based on net income streams. We also developed and implemented models to establish benchmarks capable of evaluating the risk adjusted economic return of new products. Our services expanded to provide critical support in implementing new and innovative offerings to provide flexible pricing models for all lines of business. Within their target area, the insurer regained its former leadership position.