New Delhi, June 10 -- French IT and consulting company Capgemini on Monday signed a multi-year strategic agreement with Dai-ichi Life Group to set up a Global Capability Center (GCC) in India to accelerate the Japanese insurance group's digital transformation globally.
The new GCC to be operated from Hyderabad, will use the region's pool of skilled digital and IT talent to enhance Dai-ichi Life Group's internal technology platforms and strengthen its in-house capabilities across software development, infrastructure, artificial intelligence, data analytics and cybersecurity.
The initiative will initially serve the company's operations in Japan, the United States, and Australia, with provisions to expand into other markets. The GCC will operate under a Build-Operate-Transfer model, enabling Dai-ichi Life to gradually internalise critical digital functions.
"This strategic partnership with Capgemini supports our long-term ambition to build differentiated, internal capabilities through the establishment of our Global Capability Center," said Tetsuya Kikuta, President and CEO at Dai-ichi Life Holdings.
Capgemini will bring its end-to-end transformation capabilities and delivery expertise to the project, with a focus on co-innovating solutions that streamline operations, enhance data usage, and bolster cybersecurity, the companies said in a press release.
"This collaboration with Dai-ichi Life Group comes at a crucial time for the insurance sector," said Aiman Ezzat, CEO at Capgemini. "Together, we aim to leverage technology and innovation to not only meet but exceed customer expectations."
India is quickly establishing itself as a hub for GCCs, with over 1,700 centres employing more than 1.9 million professionals. As per a recent Nasscom-Zinnov report, the GCC market in India has grown to $64.6 billion, with projections indicating a rise to $100 billion by 2030.
The Banking, Financial Services, and Insurance (BFSI) GCCs in India have grown by 15% over the past three years, exhibiting a notable increase in leveraging advanced technologies like AI, and data analytics to optimise their operations.
Published by HT Digital Content Services with permission from TechCircle.