Cognizant to strengthen National Insurance’s digital operations and future-ready technology roadmap

Key Signals in Insurance

Centre Setup and Expansion
Asurion Tech Repair & Solutions opens in North Charleston 
The company brings its footprint to more than 800 locations across the U.S. Formerly known as uBreakiFix. All U.S. locations will rebrand as Asurion Tech Repair & Solutions throughout 2022. Asurion Tech Repair & Solutions, formerly known as uBreakiFix, is a retail brand operated and franchised by a tech care company Asurion subsidiary. Read More>>
Allianz Partners opens operations in Colombia 
The company has entered Colombia by opening a new office in Bogotá. Starting this month, Allianz Partners will provide its Roadside Assistance services and support to Allianz Colombia customers as their sole RSA provider. Allianz Partners’ new operations in Colombia will focus on serving the entire country, including the local regions around Bogotá, Medellín, Bucaramanga, and Cali. Read More>>
US-Based Cognizant gets a multi-year contract for software services from the National Insurance Company 
The National Insurance Company Ltd has partnered with Cognizant Technology Solutions to accelerate and manage digital transformation. Cognizant will now help accelerate and drive the digital transformation of the NICL. The company will provide advisory services, improve its technological roadmap, and assist in managing its centralized web-based core insurance solution. Read More>>
Yuvo Health and Fidelis Care Submit value-based payment contract for Federally Qualified Health Centers 
The company announced that four FQHCs had joined the company’s independent provider association. Launched in January 2021, Yuvo Health was founded in New York City by a fully BIPOC team with the common goal of bringing fair, quality care to underserved communities. Read More>>
Merger and Acquisition
SWBC acquires AnyHour Solutions 
SWBC acquired AnyHour Solutions, a leading provider of comprehensive call/contact center outsourcing services for financial institutions. With the AnyHour acquisition, SWBC will now provide customer service-overflow call volume transferred from a financial institution, loan-by-phone (LBP) support, and fraud prevention. Read More>>
Australia’s ANZ to buy Suncorp Bank for USD 3.3 Bn to bolster home loan books 
ANZ will buy insurer Suncorp Group’s banking unit for AUD 4.9 Bn (USD 3.35 Bn) to bolster its customer growth and home loan book even as it withdrew from talks to buy software firm MYOB Group. ANZ will look to reinforce its mortgage books by assuming control of Suncorp Bank’s AUD 47 Bn (USD 32.47 Bn) home loan portfolio. Read More>>
nurture.Farm ties up with SBI General Insurance and Future Generali India Insurance to enhance insurance offerings to farmers 
Farm’s partnership with SBI General Insurance and Future Generali India Insurance Company further expands its insurance solutions for its 1.9 million farmers who use its nurture.Farm app. The company had recently received a corporate agency license from India’s Insurance Regulatory and Development Authority. Read More>>
NFP renews partnership with Equestrian Canada 
NFP announced its preferred partnership with Equestrian Canada, which includes serving as EC’s recommended and preferred insurance services partner for Licensed and Registered Coach Status holders’ commercial general liability products. Read More>>
Chubb and Royal Brunei Airlines enter travel insurance partnership 
The two companies announced a partnership to offer airline passengers travel insurance. Chubb’s travel insurance covers accidents, unexpected overseas medical expenses, and travel inconvenience (including loss of luggage, travel documents, and trip cancellation). Read More>>
Executive Movement
Liberty Mutual Insurance appoints Elizabeth Geary President, Insurance Solutions 
Geary’s new role, which follows the recent appointment of Moore by GRS President Neeti Bhalla Johnson, is essential within GRS’ new Office of Underwriting. Geary joins Liberty Mutual from TransRe, where she served in a dual role as President, Global Portfolio Management, and Chief Underwriting Officer, North America, balancing both transactional and portfolio experience. Read More>>
Admiral Group appoints Keith Davies as Group Chief Risk and Compliance Officer 
The company appointed Keith Davies as Group Chief Risk and Compliance Officer from September 2022. Keith will be responsible for developing, implementing, and overseeing Admirals Risk and Compliance functions and frameworks in ways that support the safe delivery of Admiral’s strategic objectives. Read More>>

Latest Industry Insights from Draup Braindesk

  • Desjardins focuses on crucial investment in innovation projects for food sustainability by integrating artificial intelligence and the circular economy. 
  • The project includes designing, building, and operating a data center for AI processing and high-performance cloud computing through IT infrastructure.
Digital Transformation
  • Desjardins focuses on enhanced management of insurance and finances for clients through digital solutions for health and financial wellbeing. 
  • Through the Omni mobile app, Desjardins allows clients to make various transactions and access insurance, and group retirement savings plans. 
  • Desjardins intends to provide secure voice recognition technology to protect the identification of customers and improve fraud detection. 
  • In Fiscal 2021, Desjardins partnered with Canada’s Digital Identity Laboratory to secure customers’ data by improving the identification system.
Asset Management
  • Desjardins is keen on achieving the target goal of USD 100 Bn in assets under management by 2024 through key acquisitions to elevate the service offerings for institutional clients. 
  • In Fiscal 2021, Desjardins acquired Hexavest, a boutique investment firm that serves institutional investors in Canada and abroad, to place Montreal’s position as an asset management hub. 

Key Funding Alert

Unum ID Raises USD 2 Mn in funding 
About: Unum’s funding round was led by 1414 Ventures and Outliers, with participation from Draper Associates and TappanHill Ventures. The company intends to use the funds to cement its position as the leader in reusable identity. Read More>>

Startup Spotlight

Company – Konsileo
Total Funding – USD 8.97 Mn
About: Konsileo addresses the operational challenges of regulatory compliance, data capture, and duplication with an intuitive platform, and its technology underpins the creation of a community of modern brokers without hierarchy. Read More>>

Latest Reports Published in Draup

Nationwide Building Society Account Intelligence Report 
Nationwide Building Society’s net interest income had increased by 13% in FY2022 compared to FY2021 due to high mortgage new business margins. It is a significant provider of accounts, credit cards, ISAs, and personal loans. Read More>>
Willis Towers Watson Public Limited Company Account Intelligence Report 
WTW provides a suite of insurance broking products to the aviation sector in Australia and New Zealand and the more extensive Asia Pacific operations. It focuses on updating its Radar software that delivers an exceptional level of predictiveness and transparency. Read More>>
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