Gartner to add insurance to financial bouquet

Ashu Kumar in New Delhi

John Weste, Gartner, Apac

In a bid to capture emerging business opportunities in insurance sector in India, Gartner is now planning to add insurance sector-related research and consulting services in its existing financial services portfolio. The new services are expected be rolled out by the company sometime next year.

According to the Gartner Asia-Pacific’s managing vice-president, client partner organisation, Mr John Weste, the initiative would be a part of the plan to explore insurance industry in the region. “We plan to focus on insurance and have already started building the resources. We will be in a position to offer insurance related services in 6-12 months,” he said.

Gartner is offers research and consulting services in the financial sector in India to some of the leading government and private sector banks like Bank of Baroda and ICICI Bank.

The company is targeting software companies wanting to develop financial verticals, Mr Weste said.

“The finance sector offers a great deal of potential business opportunities for India. There is a huge amount of outsourcing opportunities in financial sector across the world as most of the large banking and finance companies are planning for outsourcing their business operations,” said Mr Weste, adding that many global companies are looking to source their global support operations to India.

Moreover, there is a demand of cost-effective software applications also in the global financial sector. “In US alone, around 10,000 banks are operating and many of them are looking for cost-effective applications that can be supplied by Indian companies,” he said.