Insurance Platform Modernization

Next-level insurance
Drive a business and technology transformation that boosts agility,innovation and efficiencies
The global insurance industry is facing an
inflection point: modernize or risk being left
behind. So insurers are reimagining theirbusiness models, with a focus on speedingtime to market, reducing overhead andachieving system-wide efficiencies.
Cognizant can help. We’re here to partnerwith you in shaping a business-led
modernization that delivers fast, scalable
technologies and actionable insights—soyou can anticipate change and deliver
future-ready experiences.

journey, you can count on Cognizant tohelp drive agility, innovation and superior
customer experiences, while reducing risk.
Rather than taking a tech-led approach, withall its common pitfalls, Cognizant’s Insurance
Platform Modernization (IPM) is businessled—delivering future-ready solutions thatdrive superior outcomes, with:•

Tailored solutions. We offer you
customized digital solutions based on
our expertise across critical domains—data, analytics, legacy and emerging
technology.

•Cloud-enabled transformation. We
modernize systems, build cloudinfrastructure and migrate existing
systems to the cloud, so you can take fulladvantage of advanced technology.

Transformation that’s business-led
Maybe you’re developing a business case.
Or executing a roadmap. Or jump-starting
efforts that have stalled or failed. The fact
is, wherever you are on the modernization
1

Insurance Platform Modernization

•Product management support. We help
you eliminate bottlenecks and deliver
to your vision. Result: the right level ofbusiness engagement without generating
unsustainable management overhead.

•Tech currency remediation andrationalization
Align technology assets to yourmodernization strategy
Manage your application landscape witha multi-year roadmap that rationalizes
the value-add applications and outlines
a remediation path for technology,infrastructure and software.

•Core/tech modernization
Migrate legacy tech to cloud-nativearchitecture
Our experts ensure that your organization
automates everywhere it can, driving
acceleration and predictable delivery via
DevOps, tech operations and straightthrough processing.

•Data modernization
Turn data into actionable insights
Sharpen your data analysis to gain
insights that target the right customers
through the right channels withpersonalized offerings. Use AI/ML toprovide real-time dashboarding that leads
to business outcomes.

Thinking tech-first? A word ofadvice: Don’t.
With Cognizant IPM’s business-led focus, you avoid
the pitfalls of a tech-driven approach, which:•

Doesn’t provide a business capability lift•

Doesn’t leverage the cloud as a modernization
opportunity•

Doesn’t drive well-managed cloud financialoperations•

Doesn’t address workforce transformation needs

The key strengths of Cognizant IPM
At the heart of Cognizant IPM isOneCognizant, which brings the best of ourcore service line teams to your modernization
journey. The result: You gain hands-on accessto Cognizant’s strengths, including:••

2Business and technology accelerators
Optimize processes that improve
operational efficiency
Most systems integrators offer technology
accelerators. But Cognizant IPM employs
multiple business accelerators to keep you
focused on the processes that make yourcompany run.

Cognizant IPM in the real world

Technology assessment
Understand and act on transformation
opportunities
Begin with a full assessment ofyour applications, capabilities andinfrastructure. Our IP and accelerators
speed the process, whether you’re moving
to the cloud or remaining on-premise.

Insurance Platform Modernization

For a US-based division of a global life insurancegroup, we helped:•

Develop a modernization strategy, leveraging
low-code/no-code solutions•

Achieve 70% transformation in scope
applications•

Facilitate divestiture from its parent company

For a US-based health, wealth and investmentcompany, we helped:•Perform modernization analysis of 450 businesscritical systems•

Develop a strategy to modernize and migrate its
applications over a 3-year period

Cognizant IPM delivers co-innovation with top technology leaders
300+

Joint
Customers

12,000+AWS
Practitioners

6,000+

Trained & Certified
Professionals

Premier consulting partner and one of the top SI partners and AWS “preferred” SI partner
Developing exclusive AWS Experience Centers
Among select few Migration Acceleration Program partners
Authorized reseller of AWS services
First GSI partner to achieve AWS Lambda Service Delivery partner

110+

Joint
Customers

10,000+MicrosoftPractitioners

7,500+

Trained & Certified
Professionals

Top-tier Microsoft Azure Expert MSP partner with 16 Advanced Specializations and 18
Gold Competencies
One of the world’s most certified Microsoft partners with +7,500 certified consultants
Recieved +25 Partner Awards over the years•••

2021 finalist for Global SI and Power BI
2020 winner for SAP on Azure and Government Industry awards
2019 winner for Data Modernization

50+

JointCustomers

2,000+GooglePractitioners

550+

Trained & CertifiedProfessionals

One of first Google Cloud Premier Partners
Advanced GSI partner with Google Cloud. One of the first GSI partners to achieve Google
Cloud data management specialization
22 leader quadrants across Gartner and Forrester Wave
RAMP - Migration Acceleration Program Partner
Top 3 provider of digital engineering, cloud and data services

3Insurance Platform Modernization

Connect to the best and brightest
insurtechs

Cognizant is proud of ourstrategic partnerships with:

Cognizant’s partnerships with insurtech startups
ensure your strategy and execution rest on
best-in-class innovation. That translates toa host of benefits, from accelerated digital
innovation and improved operational efficiency,
to generation of new customer value and theopportunity to explore new technologies andbusiness models for faster routes to market.
Our extensive program of sponsorships andcollaboration ensure you direct access toinsurtech’s rising stars, via:•

Incubation centers that provide earlyvisibility into innovative firms and early-stage
startups.

•Mentorships that enable promising startups
to cross-sell their solutions along withCognizant.

••Participation in the VC ecosystem,
identifying insurtechs that align withboth client priorities.
Partnerships to develop joint solutions for
insurance business transformation, including
joint GTM strategy and activities.

•

7 of the top 10 global insurers•

34 of the top 50 US insurers•

9 of the top 10 life carriers•

9 of the top 10 US P&C carriers

Take the first step
At Cognizant, we’re ready to meet you wherever
you are in your modernization journey. We’ll
partner with you to shape a strategy thatprovides fast, scalable technologies andmeasurable business lift, with:•Differentiating solution strategies that alignwith your business growth targets•

Modernization roadmaps that avoid cloudchaos and wasted spend•

Continuous planning and readinessassessments that include the appropriate
risk analysis

Let’s talk about modernizing your insurance
platform to advance your business. For more
information, contact Susan Rickard atsusan.rickard@cognizant.com.

Cognizant (Nasdaq-100: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences sothey can stay ahead in our fast-changing world. Together, we’re improving everyday life. See how at www.cognizant.com or @cognizant.

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