Cognizant's 2021 AWARD FINALIST CASE STUDY: Best Achievement in a Business Process Management Program

Read this article about Cognizant Technology Solutions India, Finalist in the Best Achievement in a Business Process Management Program, selected by the independent judging panel, for the 2021 Digital Transformation & Operational Excellence Industry Awards program.

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Establishing an Optimized and Integrated Operations for Insurance Collections Business

Cognizant provides IT and Operations support for one of the top 10 US Property & Casualty clients across multiple lines of business covering individual and commercial insurance products. The Client has a multi-vendor strategy that has resulted in disparate and fragmented processes leading to inefficiencies and a lack of overall process ownership. These disintegrated processes had multiple touchpoints, high cycles time and eventually lead to the poor end-customer/agent experience.

Cognizant was able to design and implement a reimagined operating model that cut across multiple vendors, locations, process types, lines of business that led to significant improvement in operational delivery and customer experience. Cognizant evaluated the end-to-end processes from new business, indexing, underwriting, policy changes, renewals and cancellations and was able to create a new synergized ecosystem of CoEs with a focus on improving business metrics.

This new and reimagined operating model included components of – process redesign, capability building, knowledge management ad more importantly was augmented by analytics, digital tools, and technology to ensure success and long-term sustainability of the change. Some of the technology interventions included AI/ML-based propensity models to assess risk financial/premium, customer, reputational) and intelligent case routing, deployment of intake digitization tools, automation of premium and risk calculators and bespoke point solutions for reporting, communication, and documentation.

This reimagined operating model resulted in significant improvement in business metrics – 50% faster cycle time, 65% straight-through processing, and first time right. The client has provided an excellent VoC and acknowledged the partnership with Cognizant that has enabled them to successfully benchmark with industry best practices.

Digital Transformation & Operational Excellence Industry Awards 2021

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About the Awards

The Digital Transformation & Operational Excellence Awards have been established to showcase globally the most outstanding achievements through the application of Business Transformation, Digital Transformation, Operational Excellence & Innovation Excellence programs. Click here to view the Press Release.

The winners will be announced at the Awards Ceremony at The Digital Transformation & Operational Excellence World Awards (DTOES) on Wednesday, December 15th, 2021, from 6:30 PM at Renaissance Orlando at SeaWorld®.

The Business Transformation & Operational Excellence Awards are open to all organizations, both private and public sector, across the globe, which have implemented Business Transformation, Digital Transformation, Operational Excellence & Innovation Excellence programs to deliver outstanding business results.

The Awards will be held in conjunction with the Business Transformation & Operational Excellence World Summit, BTOES 2021 on December 15, 2021, at the Renaissance Orlando at SeaWorld®. Click to access the agenda, view the current speakers, and watch the highlights video from last year.

Speakers

Agenda

Highlight Video

BTOES.com

The issues in this article are just one of topic areas that are going to be discussed at the Business Transformation & Operational Excellence World Summit & Industry

BTOES is the industry’s biggest and best, senior-level, cross-industry gathering of Business Transformation & Operational Excellence industry leaders and senior executives.

With over 150 speakers, over 100 sessions, 12 Keynotes, 9 Track Themes, 5 parallel tracks, 60+ track sessions, 50 roundtable discussions, 20 Interactive Workshops, 6 Thought Leader Panels, 5 Leaders Boardrooms, 5 co-located events, the Industry Awards Program, Site Visits, 20+ hours of social networking including 2 gala cocktail parties, dinners, numerous group activities, this is the ultimate event to benchmark, network and drive Operational Excellence to the next level.

Quick Links

Speakers

Agenda

BTOES Awards

There is a strong focus on Cultural Transformation, Customer Delight, Sustaining an Operational Excellence program, Need for end-to-end Business Transformation, Keeping up with new technologies/impact of digitalization and Leadership Buy-in & Understanding. We dedicated two tracks to advanced technologies, such as AI, Machine Learning, RPA, Predictive Analytics, Blockchain, Cloud infrastructure etc.

The agenda is designed to encourage active meaningful conversations through all day enhanced networking and interaction opportunities, including

For more information please email info@proqis.com