Cognizant Technology Solutions Corporation · NASDAQ:CTSH
Cognizant Technology Solutions — Investor Presentation (2024)
13 slides from Cognizant Technology Solutions's investor presentation, Nov 27, 2024
Slide 1: Autonomous Agent: Underwriting Intake Optimizer
Autonomous Agent : Underwriting Intake Optimizer Creating end to end frictionless underwriting © 2024 Cognizant | Private
Slide 2: Executive summary
Executive summary Problem statement Solution developed • Unstructured submission data makes quick risk Our solution ‘Underwriting Intake Optimizer empowers underwriters and underwriting selection decisions more difficult by 60% to 80% assistant by providing better risk selection, improving productiv
Slide 3: Problem statement
Problem statement • Traditional underwriting in commercial insurance drags profitability and customer experience • Underwriter spends more than 50% time in non-core activities (such as data upload from unstructured documents, data gathering, validation, and triage) • Unstructured or incomplete submi
Slide 4: Solution Developed
Solution Developed To transform the underwriting experience, we integrate the power of our partner solution CONVR along with Cognizant’s in-house developed Generative AI powered Autonomous Agent to automate underwriting workflows involving subjective decision-making and present the insights generate
Slide 5: What happened? … Incident
What happened? … Incident Let’s say the Broker sends multiple emails with both structured and unstructured content for a commercial property quotation to the Underwriter. The broker expects the underwriter to come back with the best quote in the shortest time. Check how Underwriting Intake Optimizer
Slide 6: What next?
What next? Underwriting. insights are sourced Additionally, the solution prepopulates the from business profiles from thousands application, enabling a quicker STP with of data sources prioritization of submissions. Cleared submission through our solution gets seamlessly orchestrated and pre-filled
Slide 7: What next?
What next? Complimenting CONVR, Underwriting The optimizer module that is integrated with the Autonomous agent, assist users in performing core system provides similar submission and research and analysis-oriented tasks. This Agent Insights claim history. Risk and priority autonomous agent can under
Slide 8: X Factor – business value
X Factor – business value • Reduced application kick out by 70% • Improved underwriting productivity by >10x • Improved operational efficiency by 130% • Improved hit ratio by better risk selection • Increased pipeline (submission) and enhanced broker engagement • Improved loss ratio because of bette
Slide 9: Key capabilities (1/3) – Submission Intake optimizer powered by Convr
Key capabilities (1/3) – Submission Intake optimizer powered by Convr Submission Intake Optimizer Address data gaps in submissions to accelerate underwriting • Integrated with our AI based submission intake and underwriting platform partner Convr • Data digitization of unstructured data and document
Slide 10: Key capabilities (2/3) – Underwriting Autonomous Agent
Key capabilities (2/3) Underwriting Autonomous Agent Automation of underwriting workflows involving subjective decision making • Autonomous Agent assisted research and analysis- oriented task • Underwriting data retrieval and analysis on an end-to-end automated basis in a comprehensive and iterative
Slide 11: Key capabilities – Underwriting Cockpit
Key capabilities (2/3) Underwriting 360 Cockpit AI powered dashboard and data driven toolkit for better risk selection • Activity and opportunity list that prioritizes cases based on Analytical hierarchy process • Provides profitability at submission level and account level • Monitor and track new b
Slide 12: Case study - Azure AI based document extraction
Case study - Azure AI based document extraction Business challenges Cognizant solution • The client currently uses Hyperscience solution to extract data • The solution features Azure AI Document Intelligence that works like an OCR from New Business Insurance forms which had lower STP engine making u
Slide 13: Thank you
What next? Thank you 13 © 2024 Cognizant | Private
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