LONDON and TEANECK, N.J., Oct. 14 /PRNewswire/ -- 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."
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 $1 billion provided by First Reserve Corporation and Corsair Capital. For more information visit www.torusinsurance.com
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.
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.