Cognizant Deploys a Global Risk Engineering Platform for Torus Insurance
By Cognizant, PRNEWednesday, October 13, 2010
Global specialty insurer partners with Cognizant to enhance risk engineering services to its internal and external clients
LONDON and TEANECK, New Jersey, October 14, 2010 - Cognizant (Nasdaq: CTSH), a leading provider of consulting, technology,
and business process outsourcing services, has announced the successful
development and deployment of a state-of-the-art global risk engineering
platform for Torus Insurance.
The new platform streamlines Torus' analytical risk engineering processes
enabling better differentiation of risks with superior pricing accuracy, thus
improving service to buyers and their brokers, and improving operational
efficiency and effectiveness. Its intuitive interface and user-friendly
reports will also improve the consistency, reliability, and security of
risk-related data, and enhance customer experience.
"This platform developed by Cognizant is an important part of our efforts
to establish Torus as a property leader with an intense focus on risk
differentiation through best-in-class engineering and actuarial analysis,"
said Bob Klepper, Chief Underwriting Officer for Global Property at Torus.
"Our relationship with Cognizant, which started with a consulting
engagement in August 2009, has since expanded into several areas," said Jeff
Smith, Group Chief Information Officer at Torus. "We originally selected
Cognizant for its consulting-led approach, application development
capabilities, as well as its industry expertise in developing critical
business applications for global insurers. Cognizant's ability to take up
end-to-end responsibility from defining the IT blueprint, to designing the
user experience, building the system, and rolling out post-production support
has helped us build an application that will provide us better visibility of
the risks we underwrite, improve productivity, and enhance the perception of
Torus with clients and brokers."
"We are pleased to have successfully developed and deployed such a
futuristic risk engineering platform for Torus," said Sanjiv Gossain, Senior
Vice President and Head of the UK and Ireland Operations for Cognizant. "The
success of this engagement is a testament to our consulting, domain, business
analysis, development, and delivery capabilities. Our solution accelerators
focused on insurance risk information enabled us to deliver a solution that
will allow Torus to systematically analyze complex industry data while
achieving substantial efficiency gains. We look forward to further
strengthening our relationship with Torus as we develop the customer and
broker portal, which will form part of the next stage release of the
product."
About Torus
Torus provides property, casualty and specialty insurance, as well as
reinsurance to a global client base through its European, US and Bermudian
based subsidiaries. Launched in 2008, Torus now has over 400 employees in 13
offices worldwide. Torus carries a group rating of A - (excellent) from A.M.
Best and has capital of approximately US$1 billion provided by First Reserve
Corporation and Corsair Capital. For more information visit
www.torusinsurance.com
About Cognizant
Cognizant (Nasdaq: CTSH) is a leading provider of information technology,
consulting, and business process outsourcing services. Cognizant's
single-minded passion is to dedicate our global technology and innovation
know-how, our industry expertise and worldwide resources to working together
with clients to make their businesses stronger. With over 50 global delivery
centers and approximately 88,700 employees as of June 30, 2010, we combine a
unique global delivery model infused with a distinct culture of customer
satisfaction. A member of the NASDAQ-100 Index and S&P 500 Index, Cognizant
is a Forbes Global 2000 company and a member of the Fortune 1000 and is
ranked among the top information technology companies in BusinessWeek's Hot
Growth and Top 50 Performers listings. Visit us online at
www.cognizant.com.
Forward-Looking Statements
This press release includes statements which 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 are
necessarily subject to risks, uncertainties, and assumptions as to future
events 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 our most recent Form 10-K
and other filings with the Securities and Exchange Commission. Cognizant
undertakes no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, or otherwise.
U.S.: Catherine Marenghi, +1-781-223-8673, catherine.marenghi at cognizant.com, or Europe: Michele Cotton, +44-(0)-07979504927, michele.cotton at cognizant.com, or Asia-Pac: Harsh Kabra, +91-9823273191, harsh.kabra at cognizant.com
Tags: Cognizant, London And Teaneck, new jersey, October 14, Scandinavia, Western Europe