Client is a leading provider of insurance and other financial services for individual and institutional customers. The Company serves approximately 9 million individual households, companies and financial institutions.

In the past the Company acquired different firms with disparate processes and systems, which are yet to be assimilated. This has resulted in high maintenance/enhancement and development costs of applications/interfaces, risk in the application environment, duplication of effort and high operational costs.

The Company, therefore, decided to reduce its core applications that are a mixture of third-party products and homegrown applications focusing on core functionalities such as life insurance, annuities, remittance and distribution. To improve operational efficiencies, the company decided to outsource application maintenance and enhancement activities to an IT services provider with significant offshore resources. Cognizant was chosen to integrate and consolidate the company’s core administration systems.

Cognizant consistently exceeded the SLAs (some of which are detailed in the table below).

Integration and consolidation of systems helped to reduce:

• Maintenance/enhancement costs.
• Development costs for new applications/interfaces.
• Cost due to rework and duplication.
• Operational cost.