How insurance GCCs in India are redefining risk management and compliance standards⁠

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The story "How insurance GCCs in India are redefining risk management and compliance standards" was covered 1 weeks ago by YourStory, a news publisher based in India.

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How insurance GCCs in India are redefining risk management and compliance standards⁠ - YourStory

Quick Summary:

Global capability centres in the insurance sector are enhancing risk management frameworks and setting new compliance standards to ensure operational resilience, financial integrity, and regulatory adherence.

This systematic approach ensures that critical functions maintain continuity even during unpredictable disruptions, with process owners, whether in India or abroad, collaborating with greater ease and transparency to enhance crisis management capabilities.

According to a NASSCOM report, insurance GCCs in India have grown by 15% over the past three years, exhibiting a notable increase in leveraging advanced technologies like artificial intelligence (AI) and data analytics to optimise their operations.