Cognizant India hired more than 17,000 fresh graduates from campuses in 2020 and expects to hire over 23,000 fresh graduates in 2021—indicating a 35% increase year-on-year.

The insurance industry is on the cusp of having its entire lifecycle reimagined as the shift to digital accelerates. From product development and underwriting, customer engagement and self-service, to claims and fraud detection, digital transformation is impacting every step in the insurance value chain.

The B2B2C, or business-to-business-to-consumer, model has seen a huge jump in demand after the COVID-19 outbreak disrupted operations of businesses globally.

“We anticipate a significant revenue acceleration in 2021 following our midteens bookings growth this year. Right now, we are 100% focused on recruiting talent,” says Cognizat’s Rajesh Nambiar.

“Looking to the longer term, we may see a shift in commercial insurance towards a greater appetite for self-insurance, with re-insurance type contracts, as businesses use IoT to manage their own risks better,” says Cognizant’s David Sexton.