Overview
Wherever our clients are in their insurance modernization journey, Cognizant helps update legacy technology and processes to meet today’s customer demands for a digital, personalized online experience—while reducing risk.
- Speed products to market by streamlining development and accelerating underwriting, billing and other core processes.
- Reduce operating costs by enhancing data accuracy and streamlining manual, time-intensive tasks.
- Achieve efficiencies by automating workflows and integrating advanced technologies like AI and generative AI.
Cognizant’s Insurance Practice is the largest industry verticals that partners with insurers to evolve their business & technology landscape & enable end-to-end digital transformation. Cognizant’s Insurance IOA (Intuitive Operations & Automation) helps move our clients from running traditional operations to realizing the vision of sustained "Modern Operations" and unlock value for our clients by lowering operating costs, improve user experience, and deliver better outcomes through digitization, adoption of disruptive technologies such as GenAI, IPA/RPA (Intelligent Process Automation/Robotic Process Automation) and the implementation of bespoke technology solutions from our extensive partner eco system.
The insurance segments we serve
- Property & Casualty
- Life & Annuity, Group & Retirement
Further Details on Cognizant Insurance https://www.cognizant.com/us/en/industries/insurance-digital-transformation
P&C https://www.cognizant.com/us/en/industries/insurance-digital-transformation/property-casualty
L&A https://www.cognizant.com/us/en/industries/insurance-digital-transformation/life-annuities
Business Process Services https://www.cognizant.com/us/en/services/business-process-services
Key Features
Cognizant’s experience in insurance operations spans across the value chain including Agency / Broker Management/Support, Product Development, Marketing & Distribution, Underwriting & New Business, Plan Setup & Admin, Enrolments & Contributions, Disbursements, Policy Servicing, Claims Management, Reporting & Compliance and Clinical Services (Utilization Management, Care and Case Management Support and Provider Services), Contact Center and other horizontal lines of business.
Key Benefits
Business outcomes and strong ROI - Some of the results we’ve delivered include
- >15% Revenue increase per transaction
- 600% faster claims processing
- $900 M+ cost savings
- 50% faster time to market
- 8X ROI through intelligent automation
- 90% increase in CSAT