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From growing market share to
managing pressure on margins,
insurance leaders choose us to help them work better and work differently.

SEGMENTS WE SERVE​

  • Life, Retirement & Group

    Our services cover all functions and processes from distribution to claims. We also provide services to the group and retirement markets.

  • Property & Casualty

    Our P&C solutions cover everything from distribution through underwriting. We also specialize in solutions for transforming entire business units.

CONSULTING & SOLUTIONS

Our solutions portfolio for insurers includes BPS, emerging technology consulting and systems integration and maintenance.

Life, Annuity & Retirement Business Processing Services

Cognizant's Life, Annuity & Retirement Business Processing Service (BPS) helps insurers gain a competitive edge by handling routine back-office operations while you focus on revenue-generating activities. As a result, you will not only reduce costs and modernize systems, but better align business and operating models with process optimization. In the U.S., Cognizant is a fully licensed third party administrator where required.

Systems Integration & Maintenance for Insurance

We have strategic relationships with leading software companies that specialize in products and platforms specific to the insurance industry, such as agent compensation, claims processing and policy administration. Our team of business and technology experts will modernize your operations and attain best-in-class technology architecture while managing costs. Cognizant’s Platform Conversion Score (PCS) can help you decide when and where to make investments.

RESULTS

Loyalty Ratings Soar After Cognizant Helps Leading Insurer Energize its Digital Transformation

Challenge

A leading U.S.-based insurance carrier struggled with poor customer feedback and low online adoption of its web and mobile apps, leading to a negative Net Promoter Score (NPS). 

Solution

Cognizant delivered a customer survey framework that incorporated sophisticated analytics and a 360-degree feedback loop to provide visibility into the root cause of negative customer feedback. Cognizant created an intuitive user interface for the company’s Web-based customer self-service application, improving user experience and app performance.

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Impact

Increased NPS

by 65 points 

Increased mobile app adoption

by 138% 

Captured voice

of the customer

RESULTS

Cognizant LifeEngage™ Boosts Sales for India Life Insurer

Challenge

A leading insurer wanted to improve the effectiveness of the agents who sell its life insurance policies and other products to customers in India. 

Solution

Cognizant LifeEngage™ is a tablet-based point of sale and service system that guides agents through the sales and application process.

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Impact

Reduced the number of prospects

an agent must visit before making a sale from 14 to five

Reduced the turnaround time

for issuing policies by 45%

Significantly increased

the average transaction size 

Improved

agent productivity and satisfaction

RESULTS

Digital Transformation of Insurer’s Claims and Disaster Management Improves Efficiency by 30%

Challenge

A major national property and casualty insurance carrier struggled with operational challenges due to a lengthy claims adjustment and settlement process, caused by the company’s outdated, inefficient and largely manual processes.

Solution

Cognizant implemented its cloud-based Cognizant Interactive Exposure Map solution and transformed a largely manual claims process into a fully automated end-to-end process using GIS, satellite imagery and optimization.

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Impact

Improved efficiency

of claims processing and settlement by 30% 

Lowered operational costs

by at least $300,000 annually

Improved

customer satisfaction

RESULTS

Global Insurer Uses Detailed Analytics, Targeted Messaging to Boost Customer Renewal Rates

Challenge

Facing an urgent need to improve customer retention, a major global insurer turned to Cognizant to help it understand which customers were most at risk of canceling their policies and why. 

Solution

Using the Cognizant iVALUE solution, the Cognizant team developed analytic models for the insurer’s customers, seeking to understand which behaviors of the insurer, agent and customer would signal a high risk of a lapse.

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Impact

Increased premium revenue

by 8% within one month

Recovery of 4.5% of the customers

the insurer had lost in the previous year

Return on investment

of more than 180% within the first year 

Agents recommend products and payment methods

to new customers to increase their long-term retention

RESULTS

Cognizant’s Medical Provider Benchmarking Model Identifies $8 Million in Insurance Fraud

Challenge

In an effort to curb rising provider insurance fraud for workers’ compensation claims, a leading U.S. workers’ comp insurance carrier engaged Cognizant to create an innovative medical provider benchmarking solution. 

Solution

Cognizant incorporated clinical expertise and external guidelines with sophisticated machine learning capabilities to develop an analytics-based benchmarking model that identifies medical fraud and comprehensively examines transactions, flagging potentially fraudulent claims and providers.

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Impact

Identified 

$8 million in fraudulent claims

Produced 

more than 60 times return on investment

Improved 

the direction and efficiency of special investigation units (SIUs), claims research, clinicians and claims adjusters

RESULTS

Automated Gamification Drives CRM Adoption for Middle East Insurer

Challenge

A major insurance company based in the Middle East sought to improve the way it interacts with its customers. 

Solution

Cognizant implemented Microsoft Dynamics® CRM and utilized gamification techniques to encourage user adoption and developed a comprehensive rules engine to analyze user activity and drive friendly competition.

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Impact

Improved personnel efficiency and effectiveness

by 25% while reducing response time for all inquiries by 30%

Automated assignment and lifecycle tracking

of over 3,000 opportunities per quarter

Complete automation of reading, assigning and managing

more than 2,000 inquiries daily, including leads, emails and customer complaints

Reduced lead capture, assignment and tracking cycles

and other key business processes by 99%

RESULTS

Cognizant OptimaMedWise™ Reduces Claims Leakage and Saves Millions

Challenge 

A global property and casualty insurer wanted to address leakage from workers’ comp claims while maintaining quality of care.

Solution

The company engaged Cognizant to develop a medical necessity review capability that would identify claims for excessive or unnecessary treatment. Cognizant OptimaMedWise™ implemented its technology framework to automate the claims process and provided 100-plus trained registered nurses to review exceptions. 

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Impact

Identified $50 million 

in medically excessive or unnecessary claims within six months of deployment

Projected annual savings 

of approximately $60 million

Improved claims leakage 

by 7% to 9%

Identified 40% of claims 

as compliant and processed automatically

Reduced the total cost of ownership, 

resulting in a 20X return on investment

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