Cognizant Named a Leader in Property and Casualty (P&C) Insurance BPO Market by Everest Group
Cognizant has been recognized as a “Leader” and “Star Performer” in Everest Group’s newly issued report, “Property and Casualty Insurance BPO Service Provider Landscape.”
The report analyzes the market success and delivery capabilities of 18 leading providers of P&C insurance BPO services. The resulting PEAK Matrix™ categorizes service providers as Leaders, Major Contenders and Aspirants.
In addition, the Matrix identifies Star Performers, which are those service providers who show year-over-year positive movement in their Matrix positioning. Cognizant was assessed as “Best in Class” among its peers for delivery capabilities relative to delivery footprint, buyer satisfaction and overall delivery capability.
Everest Group also recognized Cognizant’s capabilities as being “Very High” on scope of services, technological solutions and innovation.
“The evolving expectations of P&C insurers are having a dramatic effect on service provider offerings,” said Anupam Jain, Everest Group. “Domain expertise and technology-driven BPS offerings blended with analytics and RPA are witnessing increasing traction in the market. Cognizant has gained a strong foothold in the P&C market and has been successful in growing the business fast, both organically and inorganically. With amongst best-in-class delivery capabilities in P&C insurance, a strong suite of technology tools and solutions to aid BPS delivery, and value addition via analytics, regulatory reporting, and risk management services, it has emerged as a “Star Performer” and cemented its position in the “Leaders” quadrant in P&C Insurance BPS PEAK Matrix.
“The P&C Insurance BPO market has been steadily growing with more companies seeking partners who can harness technology and automation to improve analytics, risk management, actuarial, and regulatory reporting,” said Vipul Khanna, Executive Vice President and Global Markets Leader, Business Process Services, Cognizant. “Our P&C clients work with us to help them rapidly evolve towards digital. We understand their need to disrupt the market, without disrupting their business. Our continued investments in platform-based automated solutions, analytics and technology delivers on this proposition. We are pleased that Everest Group has recognized our efforts and market success in the P&C insurance industry.”