Risk engineering platform from Cognizant

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Says underwriters and clients will receive actionable information in near real-time to help them make more informed decisions

News | by CIOL Bureau

TEANECK, USA: Cognizant and XL Group plc's global insurance operations announced the development of a new mobile-enabled risk engineering platform that they state, will transform and maximize risk assessment operations for Global Asset Protection Services (GAPS), XL Group's property loss prevention services business.

Designed as a subscription-based service, the platform as claimed, will deliver a superior customer and colleague experience, while improving the quality, speed, accuracy, and productivity of risk consulting operations. Using the new platform, XL Group's underwriters and clients will receive actionable information in near real-time to help them make more informed decisions, while managing risk and reducing losses more effectively.

"Besides delivering an improved view of complex risks to underwriters and customers, the platform will provide powerful mobile tools for XL Group's risk engineers to quickly and seamlessly access, capture, and analyze critical data. By enabling risk engineers to stay engaged with clients continuously and free up more time for consultation, the platform will facilitate stronger collaboration between clients and engineers. Additionally, it will 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 announcement stated.

"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, Executive Vice President and Chief Platform Officer at XL Group. 

"We are pleased to have been selected by XL Group for its business-critical risk engineering initiative," said Ben Bengtson, Senior Vice President 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."