Capco partners with insurance solutions consultancy Candela

07 November 2019 Consultancy.asia

Global management consultancy Capco has formed a strategic partnership with advanced automation outfit Candela Labs, which operates across the Asia Pacific.

Financial services tech and management consulting firm Capco has entered into a new strategic partnership with Candela Labs, a 1996-founded intelligent automation firm focussed on the insurance and banking segment of the Asia Pacific. In addition to its Bangalore headquarters, Candela hosts Asian offices in Singapore, Hong Kong, Indonesia, Malaysia and Thailand – the latter where Capco launched last year.

“Fundamental demographic and market shifts in Asia mean that insurers are reassessing their products, processes and supporting technologies to ensure they stay relevant in this new era,” said Capco’s APAC Managing Partner Neil Ramchandran, who previously served as a partner at Accenture. “The effective application of emerging technologies will be critical to earn the right to play and win in the region.”

Counting the National Library Board of Singapore as its first major client back in 2000, today Candela Labs – led by ex-KPMG partner Arsh Maini – specialises in Intelligent Automation and digital solutions for the insurance and banking domains, its team of 350-plus helping clients to become more efficient and agile through a range of transformation services focussed on CX, acquisitions, services, underwriting and claims.

Capco partners with insurance solutions consultancy Candela

According to a statement, the strategic partnership will allow the firms to deliver digital transformation programmes to clients in a more agile, seamless and cost-effective manner across the entire value chain, combining Capco’s consulting and implementation expertise with Candela’ cloud-native suite of solutions – which last year saw the firm named among Deloitte’s Technology Fast 500 for the Asia Pacific.

“Together we will offer a full-service capability across key APAC markets that draws upon our complementary expertise and solutions, as well as our combined regional presence,” continued Ramchandran. “Our partnership with Candela Labs underscores our commitment to helping insurers address the challenges and seize the opportunities before them. We look forward to working closely with Arsh Maini and his team.”

Maini, who in addition to KPMG spent earlier stints with both Deloitte and PwC, said in response; “There has never been a more exciting time to be providing technology-led solution to insurers. Truly successful automation and digital programmes require significant depth of capabilities across multiple dimensions – including technology, industry and market knowledge, and programme and change management.

Capco, itself founded in 1998, entered the Asian market with a Hong Kong launch in 2014 – with branches added in Singapore, Malaysia and Thailand since – and earlier this year declared that it would build on its current East and Southeast Asian headcount of 200 or so professionals with a recruitment drive in the region over the coming year; “especially in the areas of digital delivery and technology,” said Ramchandran.