bankingciooutlook

Capco Launches New U.S. Insurance Practice

By Banking CIO Outlook | Tuesday, July 30, 2019

NEW YORK: Capco, a leading management and technology consultancy focused on the financial services industry, announced the launch of its U.S. Insurance practice, which will be led by newly appointed Partner, Frank Neugebauer.

“Our expansion into insurance is a natural progression of our business. The Insurance industry is in the process of going through a massive transformation to provide a better user experience for their customers and improve operational efficiencies. We have helped leading financial institutions outside of insurance achieve similar transformations," said Mike Pugliese, Managing Director and Head of Capco U.S. "Frank's robust experience developing innovative solutions in both the Insurance and digital space is a great asset for both our clients and our firm."

The new insurance practice will expand Capco’s continued mission to deliver innovative strategy and implementation solutions to clients across financial services. The insurance practice will span five key business domains, including Property and Casualty (P&C), Life and Retirement (L&R), Reinsurance, Employee Benefits and Distribution.

“In 2019 we expect to see continued upward trends for P&C, L&R, Employee Benefits and Reinsurance thanks in part to rising interest rates, lower unemployment and increased focus on lowering costs through operational improvements,” said Neugebauer. “Innovation, especially in the form of artificial intelligence and machine learning, is going to be at the heart of those efforts within insurance firms. With the launch of our U.S. insurance practice, I look forward to working with the outstanding team here at Capco to help those firms chart their course to a successful future.”

Neugebauer joins Capco with 28 years of experience in the insurance, manufacturing and healthcare industries with a focus on digital. His extensive experience in the insurance space makes him a natural fit to advise and support U.S. insurers on the opportunities and challenges ahead.

Prior to joining Capco, Neugebauer was the Digital Chief Technology Officer at Genpact, where he oversaw digital transformation in the firm’s managed services environment across policy, claims and finance/accounting. Neugebauer’s strong leadership credentials also extend to roles as a Director within PwC’s insurance business, Chief Information Officer at United Educators Insurance, Chief Information Officer at Kaufman Financial Group and Chief Technical Officer at ACORD.

In those roles, Neugebauer helped lead large-scale strategic transformation initiatives including core systems modernization, digital engagement platforms and analytics implementation. He also helped lead the project that made the ACORD Reference Architecture a go to industry framework.

In addition to Neugebauer, Capco’s U.S. Insurance leadership team will comprise of industry veterans Matthew Berkowitz, Vincent Molinari and a large group of existing Capco business and digital consultants with deep insurance experience. The U.S. practice joins the existing insurance practices in Canada, Asia and South America.

To learn more about Capco’s Insurance services, visit https://www.capco.com/industries/insurance

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