CNO Monetary Group has prolonged its know-how partnership with Cognizant, aiming to optimise and improve its technology-based companies.
By way of the collaboration, Cognizant will combine cloud and digital applied sciences together with AI to enhance CNO’s choices.
The partnership builds on an present alliance since 2015.
It is going to see Cognizant offering complete know-how companies and leveraging generative AI (GenAI) to drive efficiencies throughout CNO’s know-how panorama throughout purposes, enterprise software program, infrastructure and engineering.
CNO, recognized for its life and medical insurance, annuities, monetary companies and workforce advantages options, operates by means of a household of manufacturers supported by associates and brokers.
The corporate boasts 3.2 million insurance policies in power and belongings totalling $35bn.
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The partnership with Cognizant can also be anticipated to reinforce service supply to this buyer base.
Earlier this month, CNO disclosed its monetary outcomes for the fourth quarter (This fall) and the complete 12 months ended 31 December 2023.
The corporate reported internet earnings of $36.3m, or $0.32 per diluted share, for This fall 2023, a slight lower from $38m, or $0.33 per diluted share, in the identical quarter of the earlier 12 months.
Annual internet earnings for 2023 stood at $276.5m, or $2.40 per diluted share, in contrast with $630.6m, or $5.36 per diluted share, in 2022.
CNO Monetary Group chief info officer Mike Mead stated: “At CNO, we’re dedicated to partnerships that assist us improve our know-how expertise, enhance our service supply and effectivity, and construct built-in capabilities to constantly enhance how we help our clients, associates and brokers.
“By persevering with to accomplice with Cognizant, CNO will proceed to leverage instruments that may additional increase productiveness and construct on our capabilities round automation, synthetic intelligence, know-how transformation and course of optimisation.”
Cognizant North America insurance coverage enterprise unit chief Sarat Varanasi stated: “We’re thrilled to proceed our partnership with CNO on their transformation journey and assist the corporate improve their clients’ expertise.
“We’re wanting ahead to bringing Cognizant’s experience from throughout our service portfolio, GenAI investments and ecosystem partnerships to help CNO’s mission and strategic enterprise priorities.”
In November final 12 months, Cognizant was chosen by Alm. Model Group, a Danish insurance coverage firm, for an automation contract.
Cognizant’s function concerned automating a variety of enterprise processes for Alm. Model Group, which had beforehand outsourced these duties to different distributors.
