XL Group and Cognizant Team Up to Transform Risk Consulting Operations
TEANECK, New Jersey and HARTFORD, Connecticut, July 18, 2013
-- Collaboration to Create a Mobile-Enabled Risk Engineering Platform to
Enhance the Accuracy, Agility, and Efficiency of Risk Assessment
TEANECK, New Jersey and HARTFORD, Connecticut, July 18, 2013 /PRNewswire/ --
Cognizant (NASDAQ: CTSH) and XL Group plc's ("XL Group") global insurance
operations today announced the development of a new mobile-enabled risk
engineering platform that 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 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.
"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. "Our collaboration with Cognizant will enable us to raise the bar in
risk consulting service delivery."
"We've been exploring how mobile technology could help us improve our
colleague and customer service experience, and differentiate us as an employer
of choice and market leader," said Tim Heinze, Senior Vice President, Head of
Global Asset Protection Services at XL Group. "In Cognizant, we have found a
company who shares our commitment to innovation and customer satisfaction, and
can work directly with our field engineers to conceptualize and incubate a
next-generation solution that will further strengthen our distinctive value
"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. 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."
About XL Group plc's Insurance Operations XL Group plc's insurance companies
offer property, casualty, professional and specialty insurance products
globally. Businesses that are moving the world forward choose XL as their
partner. To learn more, visit xlgroup.com/insurance .
About XL Group plc XL Group plc (NYSE:XL), through its subsidiaries, is a
global insurance and reinsurance company providing property, casualty and
specialty products to industrial, commercial and professional firms, insurance
companies and other enterprises throughout the world. XL is the company
clients look to for answers to their most complex risks and to help move their
world forward. Its principal offices are located at XL House, 8 St. Stephen's
Green, Dublin 2, Ireland. To learn more, visit www.xlgroup.com .
XL Group is the global brand used by XL Group plc's insurance and reinsurance
About Cognizant Cognizant (NASDAQ: CTSH) is a leading provider of information
technology, consulting, and business process outsourcing services, dedicated
to helping the world's leading companies build stronger businesses.
Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for
client satisfaction, technology innovation, deep industry and business process
expertise, and a global, collaborative workforce that embodies the future of
work. With over 50 delivery centers worldwide and approximately 162,700
employees as of March 31, 2013, Cognizant is a member of the NASDAQ-100, the
S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the
top performing and fastest growing companies in the world. Visit us online at
www.cognizant.com or follow us on Twitter: Cognizant.
Forward-Looking Statements This press release includes statements that may
constitute forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995, the
accuracy of which is necessarily subject to risks, uncertainties, and
assumptions as to future developments that may not prove to be accurate.
Factors that could cause actual results to differ materially from those
expressed or implied include general economic conditions and the factors
discussed in XL Group plc's and Cognizant's most recent Forms 10-K, Form 10-Q
and other filings with the Securities and Exchange Commission. Neither XL
Group nor Cognizant undertakes any obligation to update publicly or revise any
forward-looking statement, whether as a result of new information, future
developments, or otherwise.
Contact: Cognizant; U.S.: Barbara Ruane, Text 100, +1-415-238-7918,
email@example.com, Europe: Grazia Valentino-Boschi, + 33(0)6-07-85-80-63,
firstname.lastname@example.org, | Asia-Pac: Harsh Kabra,
+91-855-188-2111, email@example.com, XL Group; Christine Weirsky,
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