Virtusa Emerges as Top Performer in Insurance IT Services

Virtusa Recognized as Star Performer in Insurance IT Services

Virtusa Corporation, renowned for its digital strategy and engineering services, has achieved a significant milestone by being named a Star Performer in Everest Group's Life & Annuity Insurance IT Services PEAK Matrix Assessment 2024. This recognition, which also includes a designation as a Major Contender, underscores Virtusa's dedication to delivering exceptional services and solutions in the insurance sector.

Overview of Everest Group's PEAK Matrix Assessment

The PEAK Matrix Assessment evaluates service providers based on their market impact and innovative capabilities. Being recognized as a Star Performer places Virtusa among the elite in the industry, highlighting its ability to deliver outstanding performance improvements that set it apart from competitors. This accolade reflects Virtusa's strong market positioning, innovative approach, and commitment to driving results for clients in the Life & Annuity insurance space.

Strategic Collaborations and Innovations

Virtusa's success can be attributed to its strategic alliances with top industry players, allowing for a collaborative go-to-market strategy. Partnerships with organizations like Majesco and various InsurTech companies have enhanced Virtusa's offerings across the insurance value chain. These alliances, coupled with a commitment to exploring innovative technologies, position Virtusa as a leader in integrating AI into life and annuity insurance solutions.

Investment in Innovation

The company’s focus on developing specific AI use cases tailored for the life and annuity insurance sector has been pivotal. Through dedicated labs and proprietary technologies, Virtusa has enhanced customer experiences, making it a favorite among clients seeking digital solutions. This innovative spirit extends to its expertise in managing large-scale cloud transformation projects, which has not only yielded positive results but also garnered significant accolades from satisfied clients.

Commitment to Client Success

Virtusa's commitment to its clients is evident in its effort to develop unique, customized solutions. Mallesh Kalary, Executive Vice President at Virtusa, emphasized how the company's focused investments in domain consulting and its Engineering First approach enable it to lead in crafting innovative solutions tailored for Life & Annuity insurance clients.

Value of PEAK Matrix Assessment for Enterprises

The PEAK Matrix provides enterprises with critical analysis and insights necessary for informed decision-making concerning global service providers, locations, and products. It serves as an essential resource for those in the insurance industry looking to benchmark their offerings against peers.

Additions and Growth at Virtusa

With a team of approximately 35,000 individuals, Virtusa partners with clients to address the most complex business challenges. This workforce, characterized by agile capabilities and extensive industry knowledge, ensures that ideas are not only conceptually sound but also executable from the outset.

Focus on Execution

Virtusa’s dedication to execution reflects its belief that effective solutions require quality implementation. By prioritizing execution early in the development process, the company equips clients to adapt swiftly to market changes, yielding improved results and lower operational costs.

Conclusion

Virtusa's recognition as a Star Performer in Everest Group's PEAK Matrix Assessment is a testament to its unwavering commitment to excellence in service delivery within the Life & Annuity insurance sector. The company not only values innovation but also fosters strong partnerships that enhance service offerings, further solidifying its position as a leader in the industry.

Frequently Asked Questions

What is Virtusa Corporation known for?

Virtusa Corporation is known for providing digital strategy, engineering, and IT services, focusing on innovative solutions for various industries, including insurance.

What does the PEAK Matrix Assessment evaluate?

The PEAK Matrix Assessment evaluates service providers based on their market impact, vision, and innovative capabilities in delivering IT services.

How has Virtusa positioned itself in the insurance sector?

Virtusa has positioned itself through strategic partnerships and innovative solutions aimed at enhancing customer experiences and delivering value to clients.

Who can benefit from the PEAK Matrix Assessment?

Enterprises looking for insights on service providers and industry benchmarks can benefit from the PEAK Matrix Assessment for informed decision-making.

What is Virtusa’s Engineering First approach?

Virtusa's Engineering First approach emphasizes the importance of execution, ensuring that every idea is not only sound but also feasible, resulting in effective implementation.

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