TEANECK, N.J., April 16, 2019 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced an expansion of its strategic business partnership with National Life Group, one of the fastest-growing life insurance companies in the United States1. Cognizant is advising and providing technology and solutions expertise for National Life's multi-year approach to creating a digital self-serve customer experience, making it possible to securely and conveniently conduct business anywhere, on any device.
National Life's "Customer Experience Program" was first introduced in 2017 with the goal of creating a seamless experience for customers and the employees who service them. A dedicated team at National Life is focused on addressing customer experience innovation. The team, comprised of Cognizant and National Life experts, is developing new and innovative ways for employees and policyholders to securely check account balances, make payments and conduct other transactions online or through mobile devices.
To date, Cognizant consultants have helped National Life better understand its competitive landscape, define its customer habits, and create a multi-year roadmap for transforming the business's digital strategy. Cognizant collaborated on the development of a private customer portal and new native mobile app as initial steps. The first tools were launched in June 2018 and continue to be built out and refined. Since then, National Life has seen a monthly increase of 260 percent in self-service transactions and a 117 percent increase in monthly customer visits, compared to its legacy infrastructure.
"Investment in digital and mobile-first products is an essential step to compete for new business and maintain an existing customer base that expects convenience, security and innovative products," said Ben Bengtson, Cognizant Senior Vice President – Insurance. "Today's policy holders, agents and even employees expect high levels of sophistication in the tools with which they conduct business. Together, Cognizant and National Life will design and build out experience-led solutions that drive business efficiencies while creating value, and delivering peace of mind for National Life's customers."
"Our experience working with Cognizant has demonstrated a journey of opportunity and success," said Mehran Assadi, Chairman, CEO and President of National Life. "For 170 years, our cause has been to bring peace of mind to everyone we touch and to keep our promises. We know that 21st century customers expect convenience. That's what we've introduced, and it's a perfect fit with our values to do good, be good and make good."
About National Life
National Life Group® is a trade name of National Life Insurance Company, founded in Montpelier, Vt., in 1848, Life Insurance Company of the Southwest, Addison, Texas, chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York.
Cognizant (Nasdaq: CTSH) is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 195 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.
1Among all reporting life insurance companies from 2007-2017 with individual life sales of at least $50 mm in 2007 - LIMRA Sales Rankings, 4Q2017