Genpact Accelerates the Entry of Revol One Financial?? into Insurance Market with Aws
May 08, 2024 at 08:05 am EDT
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Genpact announced its work with Amazon Web Services (AWS) to fast-track Revol One Financial's entry into the fixed annuity insurance sector. Genpact and AWS facilitated the evolution of the company as a fully cloud-native entity, enabling Revol One Financial to reach its "go live" milestone in a remarkable timeframe. This example highlights how Genpact is leveraging its deep industry and technology expertise, combined with AWS services to modernize insurance companies to outpace competitors.
Revol One Financial's cloud-based fixed annuity company is powered by AWS services and Genpact's data, tech, and artificial intelligence (AI) expertise. This has enabled the company to streamline and digitize operations, shorten product launch timelines, and enhance customer experiences across its digital ecosystem. Revol One Financial has been set up for long-term growth and differentiation, effectively tackling challenges faced by traditional insurers with legacy systems. The AWS services employed included: Amazon Bedrock, a fully managed service that offers a choice of high-performing foundation models (FMs) from leading AI companies via a single application programming interface (API), along with a broad set of capabilities organizations need to build generative AI applications with security, privacy, and responsible AI; Amazon Connect, an AI-powered cloud contact center; AWS CloudTrail, a service enabling auditing, security monitoring, and operational troubleshooting; and Amazon OpenSearch Serverless, an on-demand serverless configuration for Amazon OpenSearch Service.
Amazon.com, Inc. is one of the world leaders in on-line distribution of products to the general public. The group also operates a marketplace activity, allowing individuals and distribution companies to conduct their purchase and selling transactions for goods and services. The activity is organized around three families of products and services:
- electronic and computer products: toys, cameras, computers, laptops and peripherals, TVs, stereo systems, readers, wireless communication products, etc. Amazon.com also offers kitchen and garden equipment, clothing, beauty products, etc.;
- cultural products: books, musical products, video games and DVDs;
- other: primarily Internet interface and application development services.
Net sales break down by source of income between sales of services (55.5%) and sales of products (44.5%).
Net sales are distributed geographically as follows: the United States (68.8%), Germany (6.5%), the United Kingdom (5.9%), Japan (4.5%), and other (14.3%).