Cognizant, a provider of IT, consulting and business process outsourcing services, and XL Group, a global P&C, professional and specialty insurer, announced a mobile-enabled risk-engineering platform for Global Asset Protection Services (GAPS), XL Group’s property loss prevention services business.
The platform, designed as a subscription-based service, is intended to improve the quality, speed, accuracy and productivity of risk consulting operations. Underwriters and clients will receive actionable information in near real-time to help make more informed decisions, manage risk and more effectively reduce losses, the companies said.
“With risks getting more complex, leveraging best-in-class mobile technology is key to further enhancing XL Group’s risk management capabilities underpinning the flexibility, resilience, and creativity that differentiate us,” said Myron Hendry, EVP and chief platform officer at XL Group. “Our collaboration with Cognizant will enable us to raise the bar in risk consulting service delivery.”
In addition to offering an improved view of complex risks to underwriters and customers, the platform is designed to enable XL Group’s risk engineers to access, capture and analyze critical data, quickly and seamlessly, the insurer said. By enabling risk engineers to continuously engage with clients and free up more time for consultation, the platform will facilitate stronger collaboration and improve throughput, cost-effectiveness and turnaround time from data capture to customer reporting, while reducing the amount of equipment and paperwork that engineers need to carry onsite, the company said.
“We are pleased to have been selected by XL Group for its business-critical risk engineering initiative,” said Ben Bengtson, SVP and global market leader for insurance at Cognizant. “The future of risk engineering is about automated data collection, real-time access to data in the office and on the road, and integrated customer experience and knowledge sharing. Enterprise mobility can help insurance companies address the challenges of a dynamic risk environment for competitive advantage. By streamlining XL Group’s analytical risk engineering processes and enabling better differentiation of risks with superior pricing accuracy, our mobile risk engineering platform will help XL Group run better and run differently by fostering more productive collaboration between business and IT, and unleashing innovation and new potential across the organization.”
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