AI, IoT, robotics, data, algorithms and analytics will put an end to the insurance business as we know it. Here, we share our key findings from helping insurance clients all over the world to transform operations, handle risks and thrive in the new era.
At a time of disruption, increasing inflation and the risk of recession insurers are accelerating digital and business process transformation to meet customer and regulatory demands while cutting costs. According to a recent survey by ISG (State of the European Insurance Industry 2022 | ISG (isg-one.com), 74% of European insurers are considering increased outsourcing. Cognizant’s Delivery Center in Vilnius is helping insurers achieve operational efficiencies through business process outsourcing and transformation of their whole customer value chain – all in their preferred language.
In recent years, a rush of RegTech has emerged to address anti-money laundering transaction monitoring. Yet, most banks are still using antiquated platforms that hamper a true transformation.
How can banks position themselves for faster, more purpose-driven cloud adoption? What are the pitfalls? How should they think about multi-cloud strategies and the “hyperscalers” to unleash the business value from cloud?
The data and analytics landscape is changing fast, but if you can’t demonstrate the business value in AI, data and analytics initiatives it can lead to reduced budget and lack of involvement for these initiatives. A key factor is to quickly find out the current state of maturity. With our Rapid assessment framework, you can clarify your status – within a week.
Denmark’s third largest customer-owned life insurance and pension company had a vision to create value for their customers by offering digital solutions that could be accessed anywhere at any time. Over the 24-month implementation, Cognizant successfully migrated over 750 mailboxes, two terabytes of Microsoft OneDrive data, 200 SharePoint sites and 40 key business applications without disruption.
It is almost an understatement to call sustainability a mega trend. It is no longer something that enterprises do of pure goodwill – it benefits the business as well. Even if it sounds far-fetched, IT plays an important role on the agenda.
In the beginning of December, Cognizant gathered clients over lunch for a roundtable discussion with speakers from PostNord, Celonis and Cognizant that shared the latest within Intelligent Process Automation (IPA).
Green business is good business, according to our recent research, whether for companies monetizing the emerging suite of tech tools used for sustainability or for those that see these initiatives impacting business goals.
Besides establishing our own net-zero agenda, Cognizant will extend the expertise in cloud, IoT and AI to help our clients meet their sustainability goals, reduce their carbon footprints and sharpen their competitiveness. Our clients in Europe are leading the way in some critical areas, but we need more green leadership to get further with sustainability.
How can Nordic companies extend automation initiatives throughout the enterprise to maximize gains? Currently, automation silos between different tech initiatives prevent teams from reaping the synergies and reaching their digital transformation goals. This is exactly what Cognizant Neuro addresses; it sits on top of automation tools, forming a single, intuitive automation fabric.
In recent years, the new technology market has exploded, and at the same time, the world is facing a major transformation to reach the Paris Agreement and the 17 UN sustainable development goals. As a global consulting company, we think that the technology industry should be considered as an ecosystem, where we share innovation that contributes to protecting what is best for our planet. Within boundaries that still generate profitability; we need to take a step back, to look at things from what is best for society.
Whether it’s migrating the entire core infrastructure to one or more cloud service providers, aka hyperscalers, or just simplifying a handful of processes using Software as a Service (SaaS) tools, the cloud represents the digital future. The pandemic has accelerated the ongoing cloud adoption and during 2021, 51% of Nordic organizations are predicted to reach IDC’s highest level of cloud maturity.
To reach consumers today, CX leaders need to expand their understanding of human behaviors to find out how the brand should be designed and implement strategies that connect with individuals in context. Cognizant Interactive is a global digital agency that keeps its eyes on the future so that your business can too.
What are the most essential building blocks of an intelligent Enterprise? Without doubt, a future-proof digital foundation that comprises a number of technology building blocks, each dependent on having the right data at the right time.
Intelligent automation continues to be a top driver of the future of work, according to our recent study, and its benefits became clear in the pandemic. To reap the full advantages, businesses need to move from isolated to widescale deployment.
Many of the Nordic companies currently exploring techniques like AI and machine learning experience how essential the data foundation is. Learn how a cloud-based “lakehouse” can provide a scalable, cost-effective platform for both machine learning and data analytics workloads.
Client Partner, Banking, Financial Services and Insurance, Cognizant Norway
Client Partner, Banking, Financial Services and Insurance, Cognizant Denmark
Client Partner, Banking, Financial Services and Insurance, Cognizant Sweden
Cognizant is a leading global partner for the insurance industry; 7 of the top 10 global insurers benefit from Cognizant’s integrated services portfolio. In the Nordics and Baltics, our delivery centers for business process services (BPO) is part of many clients’ digital transformation. Learn more at passionforservices
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