Leader of Capco’s new insurance practice looks to help smaller carriers

Capco, a global management and technology consultancy for financial services, has announced the launch of a U.S. Insurance practice and added industry veteran Frank Neugebauer to lead it.

The company, which was founded in 1988 and traditionally had focused on capital markets and banking, cited the multiple transformational efforts underway in insurance as an impetus to launch the new division focused on the sector.

Neugebauer, who last served as digital CTO for Genpact, says that rising interest rates, lower unemployment and operational improvements mean that all lines of insurance business are on an upward trajectory. Artificial intelligence and machine learning, he says, are on top of the list for innovative insurance companies.

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Electronic circuit boards from an International Business Machines Corp. (IBM) Z14 server rack sit on display at the CeBIT 2018 tech fair in Hanover, Germany, on Monday, June 11, 2018. CeBIT, Europe's business festival for innovation and digitization, runs June 11 - 15. Photographer: Kriztian Bocsi/Bloomberg

One area Neugebauer is working on specifically is helping small and mid-sized insurance businesses digitally transform. These companies have the same needs as their larger counterparts, but often not the same resources.

“Focusing on the client first and being more direct,” are his goals, he said in a call with Digital Insurance, adding that he wants to provide a “white glove treatment,” and those interested in furthering their knowledge will be able to receive training and tips virtually.

“Consumers expect transparency, creativity and alignment, and we will align our goals to our clients’ goals,” Neugebauer said.

Neugebauer’s other insurance experience includes stints as CIO for United Educators Insurance, and Kaufman Financial Group, and chief technical officer for ACORD.

"Frank's robust experience developing innovative solutions in both the Insurance and digital space is a great asset for both our clients and our firm." Mike Pugliese, managing director of Capco U.S., said in a statement announcing the hire.

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