India’s public sector insurer National Insurance Company (NICL) has awarded a multi-year contract to Cognizant to speed up its digital transformation.
As a strategic technology provider, Cognizant will help NICL to manage its centralised web-based core insurance solution that includes various applications, technology infrastructure and security.
Cognizant will also offer consulting services to NICL, as part of the collaboration.
In a statement, Cognizant said that it will use artificial intelligence, machine learning, automation, and microservices-based architecture to back NICL’s technological progress.
The digital transformation is expected to help NICL to enhance customer experience as well as improve business efficiency and operational flexibility.
The tech upgrade will also improve application security, financial and regulatory compliance and fuel business expansion.
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Cognizant India country head and vice president Achal Kataria said: “We are committed to supporting forward-looking technology vision of National Insurance Company and facilitating their digital transformation journey.
“Our strong technology consulting and digital capabilities will be applied to assist NICL in offering an improved and secure customer experience.”
NICL offers an array of insurance services across personal line, vehicle, rural, and industrial and commercial business lines.
It has around 1730 offices across the country and employs around 13,000 people.
Earlier this year, India’s insurance regulator increased insurance companies’ investment cap in insurance and financial activities to provide more room for their investment strategy.