Coforge joins ACORD to drive digital transformation in insurance sector

Indian IT services firm Coforge Ltd announced a strategic partnership with ACORD Solutions Group, a unit of ACORD, the standards-setting body for the global insurance industry, positioning itself to enhance digital modernisation in the global insurance industry.

The collaboration marks Coforge’s entry into ACORD’s Licensed Integrator Partner (LIP) program, focusing on advanced technological solutions for insurance data exchange, the company said in an exchange filing on Tuesday.

The partnership enables Coforge to leverage ACORD’s Transcriber and ADEPT platforms, which provide intelligent document processing and real-time digital data exchange capabilities. These technologies will help Coforge’s clients streamline critical insurance processes, including document digitisation, submissions, contracts, accounting records, and claims management.

Rajeev Batra, Executive Vice President and Head of Insurance at Coforge, emphasised the strategic importance of the partnership, highlighting the company’s commitment to developing connected enterprise solutions. Chris Newman from ACORD Solutions Group noted the collaboration as a significant step toward standardising data exchange and improving industry digitalisation.

In October, Coforge posted a 17% increase in net profit for the July-September quarter of FY25, reaching ₹212 crore, up from ₹181 crore in the same period last year. The Noida-based firm's revenue from operations grew 34% year-on-year (YoY) to ₹3,062 crore, compared to ₹2,276 crore in Q2FY24, driven by sustained demand and large deal wins.

The Noida-based company currently has 30 global delivery centres across 22 countries and is substantially invested in Centers of Excellence for GenAI, low-code/no-code, as well as the development of AI solutions to transform business operations in key industry sectors.