Cognizant picked as technology partner for AXA digital drive
Insurance giant AXA is partnering with Cognizant to transform its digital operations in the UK and Ireland. The move will see the consultancy work with AXA to streamline its technology ecosystem, enabling greater flexibility and choice for customers.
In business since 1816, AXA is a conglomerate of independently run businesses in the insurance sector. Present in 50 countries, AXA's 149,000 employees and distributors serve around 95 million clients around the globe. Even now, though, the historic business is determined not to rest on those laurels.
With digitalisation still booming across the economy, the insurance industry has been slower to embrace digital solutions than other sectors, but may be missing out as a result. According to a recent McKinsey & Company report, the industry could increase productivity and reduce operational expenses by up to 40% by 2030 by embracing tech solutions now – something AXA is determined to take advantage of.
AXA UK & Ireland has unveiled new plans to is transform its technology ecosystem in this respect, building a digitally-enabled, agile IT environment that is data-rich, secure and sustainable, with lower overall cost. As it looks to consolidate, modernise and manage its IT operations, it has tapped Cognizant as a technology partner to help realise its digital potential.
Shali Vasudeva, Chief Operating Officer, AXA UK & Ireland, commented “AXA UK & Ireland’s priority is providing customers with the choice and flexibility that meets their insurance needs. The foundation to deliver that is a modern, digital IT infrastructure that enables us to make data-driven business decisions. Cognizant’s track record, expertise and behaviours in helping organizations simplify delivery and manage IT environments were the primary factors in choosing them as a technology partner.”
The new multi-year agreement, will see Cognizant provide multi-faceted managed services and cloud migration services, helping improve AXA’s customer experience with more intuitive and secure digital channels. Cognizant’s technological support in this partnership will include cloud migration and IT infrastructure management, but will also enable innovation and new initiatives to improve AXA’s overall offering in the UK and Ireland.
Rob Walker, President of Global Growth Markets at Cognizant, said, “We’re honored to have been selected by AXA UK & Ireland to help transform their legacy environment and to support them in enabling technology to achieve better business outcomes. This new partnership builds on our strong momentum as a leader in helping global insurance clients meet their ambitions.”
The news comes as Cognizant continues to perform strongly. The technology consulting and professional services firm recorded $18.5 billion in worldwide revenues for 2021, driven by its highest ever quarterly earnings of $4.8 billion achieved over the last quarter. The latest results marked a return to double-digit growth for the first time since 2015.
Gloss