Coforge has achieved dual recognition as a Leader and Star Performer in the Everest Group Duck Creek Services PEAK Matrix Assessment 2026, positioning the AI-native engineering services company at the forefront of insurance technology transformation. This recognition highlights Coforge's sustained momentum in the Duck Creek services market as insurers accelerate cloud-native modernization and prioritize faster time-to-value from core platforms.

Assessment Methodology and Recognition

The Everest Group evaluation assessed contenders across two key dimensions: market impact and vision & capability. Coforge's dual recognition reflects strong performance across both areas, with the Star Performer designation specifically acknowledging providers demonstrating the most significant year-on-year improvement across multiple assessment parameters.

Technology Platform and AI Capabilities

Coforge's recognition stems from its comprehensive AI-led solutions and proprietary technology investments. The company's Forge-X AI-enabled engineering platform has delivered substantial performance improvements, achieving up to 50.00% gains across the delivery lifecycle. This enhancement enables faster and more scalable modernization outcomes for insurance carriers pursuing digital transformation initiatives.

The company's AI-powered agentic assets include:

• Submission Centre for streamlined application processing
• State & Product Rollout Factory for market expansion
• Claims Triaging Centre for automated claim management
• Global Expansion solutions for international operations
• Core Platform Modernisation frameworks

Industry Expert Commentary

Rugved Sawant, Practice Director at Everest Group, emphasized Coforge's accelerated Duck Creek services momentum through its SaaS-first modernization approach. The assessment highlighted the company's specialized playbooks and Duck Creek OnDemand remediation accelerators that improve delivery predictability for cloud migrations and upgrades.

Leadership Perspective and Market Position

Rajeev Batra, Global Insurance Practice Head at Coforge, attributed the recognition to the company's AI-native engineering approach and deep Property and Casualty insurance industry expertise. The company's focus on industrialized delivery, integration-led engineering, and continuous release readiness enables insurers to manage complex modernization journeys with enhanced predictability and reduced operational risk.

Rohit Mehra, Chief Business Officer at Coforge, highlighted the company's strengthened delivery capabilities, noting over 1,200 certified professionals across North America, Europe, Asia, and India. This global talent pool supports comprehensive Duck Creek lifecycle services, from implementation and cloud migration to testing automation and post-implementation support.

Service Portfolio and Global Reach

Coforge's Duck Creek services practice combines deep industry leadership with insurance-trained AI agents and a comprehensive global delivery footprint. The company's proprietary accelerators span the complete Duck Creek lifecycle, embedding responsible AI capabilities to enable end-to-end enterprise transformation for commercial and specialty insurers.

Coforge has officially completed its strategic acquisition of Encora US Holdco and Encora Holdings following a Board meeting on April 23, 2026. The transaction was executed through a comprehensive dual-component financing structure, combining debt and equity instruments to optimize the acquisition's financial impact.

Deal Structure and Financial Arrangements

The acquisition was financed through a carefully structured arrangement involving both debt and equity components:

The USD 550.00 million loan facility was secured from a consortium of lenders including JPMorgan Chase Bank, N.A., Bank of America, N.A., Citibank, N.A., The Hongkong and Shanghai Banking Corporation Limited, and BNP Paribas. The loan carries a fixed interest rate of 4.60% per annum with a three-year tenor, and repayment is scheduled to commence six months after drawdown. The facility is secured through a first ranking pari passu charge over hypothecated assets, including current assets and movable fixed assets of Coforge Limited.

Equity Allotment and Capital Structure

The Board approved the allotment of 9,37,96,508 fully paid-up equity shares on a preferential basis to two entities:

Following this allotment, the issued, subscribed and paid-up capital of the company increased significantly:

The newly allotted shares rank pari passu with existing equity shares.

Target Company Investment Structure

Pursuant to the Share Subscription and Share Purchase Agreement, the Board approved subscription to securities of both target companies:

Board Appointments and Governance

On the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of two Additional Directors (Non-Executive Directors) effective April 23, 2026:

Both appointees are liable to retire by rotation and are subject to shareholder approval.

Second Amendment Agreement and Regulatory Compliance

The company entered into a Second Amendment Agreement to the Share Subscription and Share Purchase Agreement to clarify the timing and manner of funding Encora US Holdco, Inc. and Encora Holdings Limited. The amendment permits the company to structure the funding through equity investment in a form reasonably acceptable to the parties and updates the company's equity shareholding pattern in Encora Holdings Limited as of the Closing Date.

Integration Timeline and Strategic Benefits

Coforge has been actively working on integrating the acquired Encora entities for four months. The consolidation of Encora financials into Coforge will be effective May 1, 2026. Consequently, Coforge results will reflect eleven months of operational impact from Encora activities.

The integration activities related to Encora are progressing ahead of plan, with combined cost synergies on General and Administrative expenses expected to range between 20% to 25%. The firm anticipates significant positive impact on growth and margins based on integration activities undertaken over the past four months.

The acquisition is highly synergistic, with AI-led engineering, Data, and Cloud services alone projected to deliver US$2.00 billion revenue. The Hi-Tech and Healthcare industry verticals of Coforge are expected to reach material scale immediately post-acquisition. The combined entity will have forty-five US$10.00 million plus, highly-scalable client relationships.

The new US$2.50 billion firm, with a US$2.00 billion enterprise core of AI-led Engineering, Data and Cloud services, will reposition Coforge as a player with scaled-up nearshore delivery capability in Latin America (LATAM) and significantly expand the West and Mid-West US client footprint.