| Cognizant helps clients with Policy Administration Systems solutions in: |
- Policy Issuance
- Billing
- Dividend Calculation
- Endorsement
- Renewal
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| Some of the solutions we have provided include: |
- Re-architecting and componentizing
of a non-standard auto policy administration
system for 26 states on the J2EE platform.
The new application, built with over
40 person-years of effort, catered to
3.3 million policies for over 8000 agents
and handled almost 1.5 million transactions
per month.
- Complete rebuild of entire insurance
core applications for a leading personal
lines insurer with a presence in eight
states. With 55 person-years of planned
effort, the state-of-the-art solution
covered underwriting, claims, and new
business processes. The system also
interfaced with the Blaze Rules Engine
and the DuckCreek rating engine.
- System consolidation following M&A
activity resulted in a new consolidated
application on a flexible, unified,
and extensible architecture with annual
savings of more than $5 million (almost
40% of the client's annual IT expenditure).
- Complete ownership of a policy administration
system for 2 million auto and home policies
with a transition period of only three
months. The zero-defect 100% SLA-compliant
maintenance and enhancement activities
provided 15% savings in the first year
and 62% savings in the subsequent year.
- Maintenance services for a mainframe-based
policy admin system and a unified agency
portal catering to over 8000 agents
with almost 18 million transactions
per annum with 75% of the support team
at offshore. Maintenance activities
included rate revision for 26 states
for the non-standard auto line of business.
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| Cognizant is the preferred partner for 10 of the top 50 Life and P&C insurers in the U.S. |
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