Life, Annuity & Retirement Business Processing Services – Capabilities
Business Processing Services
Life insurance business processing is core to what we do. Every day we manage nearly 30 million life insurance policies, more than 4 million annuity contracts and 14 million closed block policies. Our business and technology experts offer carriers services that address any identifiable business process, simple or complex, to save money or transform an enterprise—or both.
Our team has developed both group life and disability claims administration systems for major carriers. Leveraging Cognizant’s service-oriented architecture, they can reduce costs and administrative burdens.
Channel & Customer User Interface
Web portals built by experts specifically for the life insurance industry can enhance customer loyalty and streamline communications with employees.
Billing & Disbursements
More efficient and effective billing can reduce the cost of policy ownership and boost productivity. These solutions can also integrate with group customer payroll systems. We also specialize in consolidating multiple small disbursement systems into more efficient enterprise solutions.
Policy & Agency Administration
Cognizant’s custom solutions can manage, integrate and streamline policy administration. Properly tailored systems will reduce the cost of administering a wide variety of insurance products.
Testing & QA
Making sure your applications run flawlessly is both an important task and a difficult chore. Cognizant’s QA experts can help you every step of the way—or you can outsource the entire process to us.
Cognizant offers innovation and IT expertise for a mature property and casualty industry.
Property and Casualty (P&C) insurance may be a mature industry, but trying to do the same old things at less cost is no longer enough. To jumpstart growth, new IT developments like the cloud and mobility can help, but each requires IT expertise and knowledge of best practices. Cognizant has the experience and technology expertise to help, along with a tradition of listening to customers. That’s one reason our clients include 13 of the top 25 P&C insurers in the U.S. and eight of the 10 largest European insurers.