Deniz Isik is a Sales Leader - Insurance Vertical at Newgen Software, a leading provider of a unified digital transformation platform with native process automation, content services and communication management capabilities. Deniz was interviewed by Michael Fiedel, Co-Founder at InsurTech Ohio and Co-Founder at PolicyFly, Inc.
Deniz, how is Newgen investing in the growth of its US operations?
“Newgen is currently in a significant growth stage in the United States. As an international company with over 30 offices globally, we're focusing heavily on the US market for growth. In the past, we were more of an agnostic platform, not particularly verticalized, and served as a platform for building applications to automate backend processes. However, in recent years, the executives have sharpened their focus, becoming more specific in verticalizing the product suite.
This year, we've invested heavily in the insurance space. They brought me in from Duck Creek, leveraging my extensive insurance background to lead US sales efforts in this area. They also brought in Rana Ganguli, the Head of the US Insurance Center of Excellence. Rana has over 25 years of consulting experience with firms like Booz Allen Hamilton, Accenture and the Big Four, all within the insurance industry.
In addition to bringing in expertise, we’re building assets on our platform. We're now moving from a horizontal approach to being verticalized, creating specialty solutions. For instance, we’ve developed an underwriting workbench, claims automation solutions and litigated claims. These assets are 80 percent pre-built frameworks with 20 percent customization for specific customers, offering a tailored, end-to-end solution without forcing customers to change their business models.”
What do you believe is you and your team's unique perspective within the insurance industry?
"Our unique perspective lies in building targeted assets on our platform. Traditional core solution providers like Guidewire and Duck Creek are focused on modernizing legacy systems and operating within their established models. We’ve taken a different approach by introducing a user-based licensing model. This flexibility allows small organizations with a few users or large carriers with thousands to scale seamlessly with our platform.
We’ve also adopted a partnership mindset. Instead of just selling solutions, we collaborate with our customers, identifying their primary pain points and addressing them through our platform. By offering low-effort POCs (Proof of Concept), we integrate their data into our solutions, enabling them to test and adapt the platform within their organization before committing to a purchase. This confidence in our solution has been well received and has proven highly effective.”
How has this perspective been received, and are there any high-level case studies you can share?
“It has been very well received. Currently, we’re working with over 10 customers on POC initiatives. One notable example is a mid-tier carrier in Chicago with a Guidewire content services project. They wanted to integrate Guidewire’s on-prem solution with our content services and backend solutions.
We spun up a POC within six weeks, allowing them to use it for a month before moving to commercials. This model has been widely accepted because it demonstrates the solution’s value and scalability. Customers are often surprised and impressed by how quickly we can deliver results.”
Can you share some growth goals for the year ahead?
“Our growth goals are ambitious yet achievable. This is our first year targeting this space, and while building a pipeline and closing deals in the insurance industry can take time, we aim to grow by 10x over the next five years. By then, we expect to reach tens of millions, potentially in the $50–70 million range, within the insurance vertical.
We’re confident in achieving this due to the tools, products and partnerships we’ve developed. Our pipeline is growing rapidly, supported by strong collaborations with systems integrators (SIs) who bring us to their customers. This multi-faceted approach—combining direct sales and partnerships—is fueling exponential pipeline growth and setting us up for success.”