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INSURANCE

How a Global Insurer Ran Rings Around its Smaller Competitors in Asia

The Challenge

The Asian operations of a global insurance company needed to overcome a lack of visibility, agility and interoperability between its systems and those of its country-based entities. The company turned to Cognizant for help.

Our Approach

The Cognizant team built a user-friendly and efficient digital solution on top of the insurer’s legacy systems. We helped conceptualize, design and implement a multi-year digital transformation program for six lines of business spread across four countries.

Our strategy involved a four-year roadmap to create a foundational digital platform that would interface with existing peripheral systems through an advanced data layer, and then plug into a robust omnichannel front-end system.

Becoming More Competitive Across Asia

The insurer launched 11 new apps across four countries, a level of new product activity that had been unthinkable before. The Pega platform gives the company attractive, user-friendly application interfaces out of the box, simplifying applications for sales staff and end users.

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8–9 minutes

policy processing time, down from a full day

70%

average cost savings on new product implementations

~75%

reduction in product time to market

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