Latest news with #EverestGroup
Time of India
2 hours ago
- Business
- Time of India
IT's growth search takes them to doors of mid-market firms
Live Events India's $280 billion-plus technology outsourcing industry is expanding its focus to the underpenetrated smaller and mid-market enterprise segment, chasing growth beyond its traditional base of Global 2,000 and 5,000 companies in a sluggish watchers see strong opportunities as corporates with annual revenues typically between $1 billion and $5 billion accelerate digitisation amid the rapid rise of artificial intelligence (AI).Fundamentally, as growth in the larger clients has been sluggish, IT services companies are looking at portfolio diversification, and the mid-market offers strong opportunities in this space, said Jimit Arora, chief executive officer of US-based research and analyst firm Everest Group. 'For mid-market companies, tech-enabled transformation deals are largely greenfield opportunities, and they are looking to leapfrog prior S-curves and move to value creation through AI,' he the large and mid-tier IT service providers did not respond to queries, industry experts said the emergence of AI and ongoing digitisation have compelled smaller and mid-sized corporates to beef up investments in cloud, cybersecurity, and broader tech transformation. Mid-market enterprises are typically late adopters of technology. Until now, their tech adoption was largely limited to back-office functions and basic IT infrastructure—areas served by small and mid-sized outsourcing firms Now, as many of these enterprises across the world scale up and move from the unorganised to the organised sector, their need for advanced technology transformation is rising factors are driving large IT companies to target these clients, experts said.'They are often more agile in decision-making, present a lower barrier to entry, and offer greater opportunities for services such as tech modernisation, cloud adoption, cybersecurity and managed services,' said Nitin Bhatt, technology sector leader at EY industry executive pointed out that large, conventional clients of IT firms, are increasingly setting up global capability centres (GCCs) in low-cost regions like India, which help them insource their technology capabilities. This has further pushed India's strong outsourcing companies to scout for growth IT outsourcing business grew slower by low single digit at around 3% in constant currency terms in FY25 to more than $280 billion. Traditionally, a double-digit growth sector, the IT industry grew slowest in decades in FY24 at 1.2% and is expected to grow by 3- 5% in FY26 due to weak technology demand post high-growth Covid phase and disruption from enterprises still account for over 60-70% revenues of the top five Indian IT services firms—Tata Consultancy Services (TCS), Infosys , HCLTech, Wipro and Tech Mahindra , according to data intelligence platform beyond the Global 2,000 list lies a less-explored segment of over 40,000 companies worldwide, each generating between $500 million and $5 billion in revenue, Bhatt this opportunity, IT companies have now developed tailored and often sector-specific go-to-market strategies and playbooks for mid-market to data shared by Bhatt, the segment has a total addressable market for tech services estimated at $300-400 per Everest data, mid-market in North America alone is a $110-130-billion IT services market and is expected to grow at about 8-10% compound annual growth rate (CAGR) over the next three the overall technology spend across corporates is around $1.3 of Everest sees the diversification thesis play out in the IT services sector, which shows companies looking at new frontiers for growth – be it newer geographies of Asia Pacific, Latin America and Middle East, or new client segments like mid-market both large and mid-tier IT services companies make a play for this market, Arora foresees greater success with the mid-sized outsourcing companies that are in the sweet spot of size and agility.
Yahoo
a day ago
- Business
- Yahoo
Appian Connected Claims 2.0 Transforms Insurance Claims Management with AI
Appian is named a 'Leader' in Everest Group's 'AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance – Products PEAK Matrix®' for 2025 LONDON, June 4, 2025 /PRNewswire/ -- Appian (NASDAQ: APPN) today announced the launch of Connected Claims 2.0, an AI-powered solution designed to provide a unified claims workflow. Everest Group also named Appian a Leader in AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance – Products PEAK Matrix® Assessment 2025. Connected Claims 2.0 leverages Appian's Case Management Studio, AI agents, and data fabric to offer streamlined, data-driven, and AI-powered automated processes. Driven by rapid digital transformation, the global insurance claims services processing market is projected to reach $638.3 billion by 2032. Connected Claims 2.0 will support insurers through this growth with a unified claims workflow that accelerates processing, enhances fraud detection, combats inconsistent handling, data management issues and improves customer satisfaction. Connected Claims 2.0 offers a fully integrated, AI-powered platform with customisable workflows and a superior user experience, featuring a single pane of glass, AI-powered data insights, real-time data access, and automated regulatory compliance management. Appian's Connected Claims solution brings powerful AI-driven support to every adjuster, making it easier to manage the demands of a document-heavy claims environment. With capabilities like data classification, document summarisation, contextual chat, and next-best-action recommendations, AI accelerates work and improves decision-making. The next generation of the solution introduces the Appian AI Document Centre, enabling users to easily train models to extract data from unstructured documents. This means faster intake, more accurate data capture, and seamless handoff for tasks like fraud detection and automated triage. Over time, users can achieve high accuracy and boost straight-through processing (STP) rates—freeing human experts to focus only on the most complex cases. The result is faster, smarter claims handling with less manual work. Trusted by companies like Aon, Canada Life, and Aviva, Appian has also been named a Leader in Everest Group's AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance – Products PEAK Matrix® Assessment 2025. The assessment considered several factors, including each provider's vision and strategy, technology capabilities, deployment flexibility, customer engagement models, support services, and overall value delivered. Appian's recognition as a Leader highlights its strength in embedding AI directly into processes. This approach enables insurers to easily access powerful AI capabilities exactly when and where they're needed—with just a few clicks. "Appian's Connected Claims solution, built on its low-code platform, combines AI-driven document processing, seamless third-party integrations, and configurable accelerators to deliver rapid time-to-value for P&C insurers," said Aurindum Mukherjee, Practice Director at Everest Group. "Strong integration support across payment, risk, and fraud systems, coupled with proven success driving accelerated business value for insurers and high client satisfaction for implementation and support, underpins Appian's position as a Leader in Everest Group's AI-enabled Claims Management Systems PEAK Matrix® Assessment 2025." "We are launching Appian Connected Claims 2.0 to meet the urgent need for speed and early value realisation as the insurance industry tackles complexity, " said Jake Sloan, Global Vice President of Insurance, Appian. "Our solution drives digital-first claims innovation, aligning with core admin cloud modernisation for early value realisation. It's configurable, rapidly deployable, and leverages the latest powerful AI in Process to accelerate cycles, combat fraud, and personalise customer experiences. Connected Claims 2.0 empowers insurers to transform operations, balancing efficiency and accuracy with superior customer satisfaction, truly leading the evolution of claims management." Connected Claims 2.0 supports insurance companies, from claims adjusters, fraud detection teams, customer service representatives, regulatory compliance teams, to IT and operations teams. About Appian Appian is The Process Company. We deliver a software platform that helps organisations run better processes that reduce costs, improve customer experiences, and gain a strategic edge. Committed to client success, we serve many of the world's largest companies across various industries. For more information, visit [Nasdaq: APPN] Follow Appian: LinkedIn, X (Twitter) DisclaimerLicensed extracts taken from Everest Group's PEAK Matrix® Reports, may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group's PEAK Matrix® reports do not necessarily provide the full context of our research and analysis. All research and analysis conducted by Everest Group's analysts and included in Everest Group's PEAK Matrix® reports is independent and no organization has paid a fee to be featured or to influence their ranking. To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix® Reports. About Everest GroupEverest Group is a leading global research firm helping business leaders make confident Group's PEAK Matrix® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products and solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix® to gauge and calibrate their offerings against others in the industry or market. Find further details and in-depth content at View original content: SOURCE Appian Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
2 days ago
- Business
- Associated Press
Appian Connected Claims 2.0 Transforms Insurance Claims Management with AI
Appian is named a 'Leader' in Everest Group's 'AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance – Products PEAK Matrix®' for 2025 MCLEAN, Va., June 3, 2025 /PRNewswire/ -- Appian (NASDAQ: APPN) today announced the launch of Connected Claims 2.0, an AI-powered solution designed to provide a unified claims workflow. Everest Group also named Appian a Leader in AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance – Products PEAK Matrix® Assessment 2025. Connected Claims 2.0 leverages Appian's Case Management Studio, AI agents, and data fabric to offer streamlined, data-driven, and AI-powered automated processes. Driven by rapid digital transformation, the global insurance claims services processing market is projected to reach $638.3 billion by 2032. Connected Claims 2.0 will support insurers through this growth with a unified claims workflow that accelerates processing, enhances fraud detection, combats inconsistent handling, data management issues and improves customer satisfaction. Connected Claims 2.0 offers a fully integrated, AI-powered platform with customizable workflows and a superior user experience, featuring a single pane of glass, AI-powered data insights, real-time data access, and automated regulatory compliance management. Appian's Connected Claims solution brings powerful AI-driven support to every adjuster, making it easier to manage the demands of a document-heavy claims environment. With capabilities like data classification, document summarization, contextual chat, and next-best-action recommendations, AI accelerates work and improves decision-making. The next generation of the solution introduces the Appian AI Document Center, enabling users to easily train models to extract data from unstructured documents. This means faster intake, more accurate data capture, and seamless handoff for tasks like fraud detection and automated triage. Over time, users can achieve high accuracy and boost straight-through processing (STP) rates—freeing human experts to focus only on the most complex cases. The result is faster, smarter claims handling with less manual work. T rusted by companies like Aon, Canada Life, and Aviva, Appian has also been named a Leader in Everest Group's AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance – Products PEAK Matrix® Assessment 2025. The assessment considered several factors, including each provider's vision and strategy, technology capabilities, deployment flexibility, customer engagement models, support services, and overall value delivered. Appian's recognition as a Leader highlights its strength in embedding AI directly into processes. This approach enables insurers to easily access powerful AI capabilities exactly when and where they're needed—with just a few clicks. 'Appian's Connected Claims solution, built on its low-code platform, combines AI-driven document processing, seamless third-party integrations, and configurable accelerators to deliver rapid time-to-value for P&C insurers,' said Aurindum Mukherjee, Practice Director at Everest Group. 'Strong integration support across payment, risk, and fraud systems, coupled with proven success driving accelerated business value for insurers and high client satisfaction for implementation and support, underpins Appian's position as a Leader in Everest Group's AI-enabled Claims Management Systems PEAK Matrix® Assessment 2025.' 'We are launching Appian Connected Claims 2.0 to meet the urgent need for speed and early value realization as the insurance industry tackles complexity, " said Jake Sloan, Global Vice President of Insurance, Appian. 'Our solution drives digital-first claims innovation, aligning with core admin cloud modernization for early value realization. It's configurable, rapidly deployable, and leverages the latest powerful AI in Process to accelerate cycles, combat fraud, and personalize customer experiences. Connected Claims 2.0 empowers insurers to transform operations, balancing efficiency and accuracy with superior customer satisfaction, truly leading the evolution of claims management.' Connected Claims 2.0 supports insurance companies, from claims adjusters, fraud detection teams, customer service representatives, regulatory compliance teams, to IT and operations teams. About Appian Appian is The Process Company. We deliver a software platform that helps organizations run better processes that reduce costs, improve customer experiences, and gain a strategic edge. Committed to client success, we serve many of the world's largest companies across various industries. For more information, visit [Nasdaq: APPN] Follow Appian: LinkedIn, X (Twitter) Disclaimer Licensed extracts taken from Everest Group's PEAK Matrix® Reports, may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group's PEAK Matrix® reports do not necessarily provide the full context of our research and analysis. All research and analysis conducted by Everest Group's analysts and included in Everest Group's PEAK Matrix® reports is independent and no organization has paid a fee to be featured or to influence their ranking. To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix® Reports. About Everest Group Everest Group is a leading global research firm helping business leaders make confident decisions. Everest Group's PEAK Matrix® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products and solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix® to gauge and calibrate their offerings against others in the industry or market. Find further details and in-depth content at View original content to download multimedia: SOURCE Appian
Business Wire
2 days ago
- Business
- Business Wire
Altimetrik Named a Major Contender in Everest Group's Banking and Financial Services IT Services Specialists PEAK Matrix® Assessment
DETROIT--(BUSINESS WIRE)-- Altimetrik, a pure-play digital business company, has been recognized as a 'Major Contender' in Everest Group's inaugural Banking and Financial Services (BFS) IT Services Specialists PEAK Matrix® Assessment 2025. Altimetrik's Digital Business Methodology (DBM) and AI-first solutions have proven to be a valuable approach for financial institutions seeking scalable digital solutions focused on customer outcomes. The Everest Group assessment evaluated 30 specialist IT service providers based on their market impact, vision, and capability, positioning Altimetrik among the top service providers in this space. 'Altimetrik's use of its Digital Business Methodology (DBM) and its approach to co-developing scalable digital solutions have supported transformation initiatives within banking and financial services,' said Pranati Dave, Practice Director at Everest Group. 'Clients have noted its ability to rapidly build Minimum Viable Products (MVPs) and show early indicators of business value, particularly in areas such as compliance, payments modernization, and generative AI. These strengths, along with its engineering capabilities and a balanced focus on both horizontal technologies and domain-specific needs, have contributed to Altimetrik's recognition as a Major Contender in Everest Group's inaugural Banking and Financial Services (BFS) IT Services Specialists PEAK Matrix® Assessment 2025.' Altimetrik's key strengths highlighted in the assessment include: Strong digital product engineering capabilities Ability to rapidly deliver measurable customer outcomes through short sprints Balanced mix of horizontal and industry-specific accelerators tailored to BFS needs Strategic focus on high-value transformation engagements Experience working with diverse BFS clientele including banks, payment processors, and FinTechs 'Financial institutions are leading the way in digital business, with AI accelerating change across the sector — from modernizing legacy systems to enabling smarter decision-making, hyper-personalization, and real-time operations,' said Raj Sundaresan, CEO at Altimetrik. 'This recognition from Everest Group validates our engineering-led, AI-first approach to helping BFS clients address compliance, security, customer experience, and operational agility. By combining deep domain expertise with advanced data and AI capabilities, we not only accelerate innovation but also ensure measurable value from AI investments. Our success in areas like platform modernization, intelligent client onboarding, and real-time payments implementation reflects our commitment to building AI-first, scalable, high-impact solutions that drive digital solutions at speed and scale.' Altimetrik's AI-focused, data driven, collaborative, and agile methodology has proven particularly effective in the BFS sector, with case studies highlighting significant improvements in operational efficiency. In one client engagement, Altimetrik reduced commercial client onboarding time from over 60 days to just two days, while another implementation improved payment transaction processing speed 20 times over. The company continues to invest in technology capability centers focused on AI, product engineering, data engineering, analytics, quality engineering, and DevSecOps to further enhance its offerings to BFS clients. Read the full report and learn more about Altimetrik's capabilities in the banking and financial services sector. Disclaimer Licensed extracts taken from Everest Group's PEAK Matrix® Reports may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group's PEAK Matrix® reports do not necessarily provide the full context of our research and analysis. All research and analysis conducted by Everest Group's analysts and included in Everest Group's PEAK Matrix® reports is independent and no organization has paid a fee to be featured or to influence their ranking. To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix® Reports. About Altimetrik Altimetrik is a pure-play digital business services company. We focus on delivering business outcomes with an AI-first, agile, product-oriented approach. Our first, proven digital business methodology provides a blueprint to develop, scale, and launch new products to market faster. Our team of 6,000+ practitioners with software, data, and cloud skills builds an agile engineering culture of collaboration and innovation that modernizes technology and builds new business models in bite-size increments. As a strategic partner and catalyst, Altimetrik quickly delivers results without disruption. Learn more at About Everest Group Everest Group is a leading global research firm helping business leaders make confident decisions. Everest Group's PEAK Matrix® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products and solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix® to gauge and calibrate their offerings against others in the industry or market. Find further details and in-depth content at
Yahoo
5 days ago
- Business
- Yahoo
Why Is Everest Group (EG) Up 2.7% Since Last Earnings Report?
A month has gone by since the last earnings report for Everest Group (EG). Shares have added about 2.7% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Everest Group due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. It turns out, estimates revision have trended downward during the past month. Currently, Everest Group has an average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of A on the value side, putting it in the top 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Everest Group has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Everest Group, Ltd. (EG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
