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What’s hindering transformation efforts in today’s companies? In many cases, it’s their outdated operating models, creating the kind of friction that makes processes cumbersome and operations costly.
Cognizant can help. By erasing the operating inefficiencies that slow growth, we’ll help you create and capture value and improve your business outcomes. With our industry know-how and process expertise, we’ll show you how to implement ready-made industry solutions, platforms and processes. Together, they combine to accelerate your digital transformation to a more agile enterprise.
Cognizant’s “Digital First” approach to transformation removes friction to deliver more agile, client-centric and cost-effective operations.
A leading property and casualty insurance company wanted to improve its first notice of loss process to meet the dual mandate of following business protocol while being sympathetic to its customers. Although the company must be cognizant of the fact that a first notice of loss process can be stressful for customers initiating a claim, it must also ensure that the issue is resolved to the customer’s satisfaction while minimizing the risk of litigation, detecting potential fraud and controlling costs. The company asked Cognizant to examine and improve its first notice of loss process.
We transcribed 25,000 saved calls using voice-to-text technology and analyzed these calls to identify the most commonly repeated activities. We built a chatbot functionality to capture these processes automatically. By mapping the revamped first notice of loss session to a template of 80 capture fields, we ensured that all aspects of a session are captured. The session also includes recommendations for service rep dialogue. Using artificial intelligence (AI) helps streamline the insurance claims process as well as cut down costs and improve customer satisfaction.
With our solution, the voice-to-text transcription rate went up to 92%, from 67%. All calls are transcribed in real time. After a call is completed the transcription is summarized and automatically presented to service rep supervisors for review and approval, helping them focus on quality and efficiency. The evaluation of the pilot project showed that call duration and associated costs have gone down. The company is set to launch a full deployment of the AI and analytics solution soon, and it’s planning for next-phase enhancements.
reduction in average call length
reduction in call costs due to post-call approval process
accuracy of automated transcription, up from 67%
Everest Group named Cognizant a Leader in healthcare payer operations services experience and capabilities. This includes Cognizant's position on the healthcare payer operations services PEAK Matrix and detailed healthcare payer operations services profile.READ MORE
Everest named Cognizant a Leader and a Star Performer in Life Sciences Operations Services. The report recognizes Cognizant’s services experience and capabilities including strengths in FTE and BPaaS in the Pharmacovigilance space.READ MORE
Everest named Cognizant a leader and a Star Performer in RCM Business Process Services. The report recognizes Cognizant's wide array of technology tools that help in billing, denials management, coding and other functions within revenue cycle management.READ MORE
Our industry solutions and platforms—backed by outcome oriented commercial constructs—deliver next-level performance at a reduced cost, leading to increased profitability.
We help banking companies drive new operating models to boost revenue and control costs.LEARN MORE
We enable buy-side and sell-side segments to gain flexibility, increase profitability, and implement solutions that deepen customer loyalty.LEARN MORE
For telecommunications companies, we closely couple operations to business practices, enabling them to be more aligned, responsive and closer to customers' demands.LEARN MORE
Digitizing healthcare processes puts the focus of operations back to where it should be—on patient care.LEARN MORE
We allow insurers to improve current processes and reimagine new operating models that drive growth and reduce risk.LEARN MORE
We support new ways of working that help life sciences companies improve processes, adopt new technologies and increase competitiveness in today’s global markets.LEARN MORE
Industry best practices and digital technologies like robotic process automation, cloud-based platforms and analytics can help manufacturers can jumpstart productivity. Areas of our focus include finance and accounting, remote asset monitoring, supply chain management and customer service.LEARN MORE
We help leading media and entertainment companies humanize processes at the heart of their businesses to provide more personalized and compelling customer experiences.LEARN MORE
Our oil and gas platforms span finance and accounting solutions, asset management, mobility and process automation capabilities. Each leverages Cognizant’s domain and digital skills to drive aggressive automation.LEARN MORE
Continuous price fluctuations, stiff competition and ever-changing demands for more innovative products continue to challenge retailers. By digitizing retail processes, companies can respond faster and better to customer needs and market signals.LEARN MORE
We couple cutting-edge technologies with human-centric elements that enable you to deliver a superior digital platform experience.LEARN MORE
Working with Cognizant and leading partner solutions, we use the latest digital tools to optimize operations in finance and accounting, digital process automation, remote asset monitoring, supply chain management, and more.LEARN MORE
Our services leverage the latest digital technologies to help our travel and hospitality clients better connect processes with the customer experience and decrease operational costs.READ MORE
Utilities today regard the customer experience as a critical element in winning and retaining loyal customers. Our utilities platforms help you create a digital-first strategy based on experience management, automation and artificial intelligence.LEARN MORE