Cognizant Solutions Overview
Solution Overview
LifeEngage™:
The Life Insurance
Platform for the
Digital-Age Insurer
1
LifeEngage Solution Overview
Cognizant Solutions Overview
Digital forces are disrupting the life insurance
market, creating new customer expectations for
convenience, information, and interactions with
agents. Insurers that can marry a high-touch
approach with cutting-edge technology stand to
win. These changes bring lots of questions:
• H
ow do I increase revenue and stay
ahead of the competition?
• How do I build stronger customer
relationships and enrich customer
experience while selling?
• How do I ensure right products are
sold to the customer and ensure
regulatory compliance?
• How do I reduce administrative
overheads in the selling process while
remaining effective?
• How do I increase the effectiveness of
my sales force and help them sell better
and faster?
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LifeEngage Solution Overview
Cognizant’s LifeEngage™ solution answers
these questions with a blend of rich
functional and technical features, helping
you address the distribution needs of
today and tomorrow on a single unified
platform. Even more, it’s built for both online
and mobile channels, tailoring it for the
experience that today’s consumers expect.
LifeEngage is a unified life insurance
point-of-sale, point-of-service and
underwriting platform for partners,
producers and customers for agency,
bancassurance, direct and alternate
distribution models. It helps engage with
customers with an efficient, modern and
seamless sales and service experience.
LIFEENGAGE PRODUCT FEATURES
• Multi-channel and multi-platform
• Industry aligned business and
data model
• High Configurability
• Offline-Online Sync
• Exhaustive Functional Coverage
• System Integration Options
• Social Media Integration
• Usage Tracking and Integrated
Customer Analytics
• Gamifying Adoption
• Over The Air Updates
• Accelerated Product Setup
• Integrated Rule and Calculation engines
• Collaboration Enabled
Designed with a ‘mobile-first’ approach, all
functionalities are ‘mobile ready’ while being
available on desktops as well, providing your
agents and customers a consistent experience
both online and offline.
LifeEngage also comes in with built in social
media integration and collaboration features.
The platform readily leverages analytics to
facilitate consultative selling and need based
product recommendations, as seen in Figure 1.
Its state of the art new business capabilities
will help your business users configure the end
to end new business components starting from
product definition, rates, calculations, rules and
application templates with minimal or no IT
intervention, drastically reducing time to
market for new products.
Functional
Components
Product
Configuration
Configuration
UIs for
• Core
product
attributes
• Rates and
Charges
• Rules
• Forms & pdf
templates
Key
Features
BYOD
Support
Financial Need
Analysis
•
•
•
•
•
Life Stage
analysis
Risk
profiling
Need based
calculation
Graphs &
Charts
Product
Recomm. &
selection
Multi
Device
Once & Done
In Sales Process
Office in a Box
For partners & producers
Multi-Channel
Support
Business
Themes
Sales
Illustration
•
•
•
•
•
Quick quote
Benefit
illustration
Inforce
Illustration
Quote
Comparison
Illustration
PDF
generation
Multi
Platform
•
•
•
•
•
•
Sales
Fulfillment
Underwriting
Integration
Smart data
capture
Reflexive
questions
Document
upload
E-signature
Online
payment
STP
• Case
Management
• UW
Workbench
• Referrals
• Automated
rating
• Loading &
Exclusions
Online –
Offline
Sync
Customer
Service
Agent Service
•
•
•
•
•
•
Performance &
Compensation
Alerts
My Business
Rewards &
Recognition
Knowledge
center
Statements
Rule
Driven
•
•
•
•
•
Policy
Enquiry
Proposal
Enquiry
Transaction
triggers
Premium
Calendar
Alerts
Workflow
enabled
Figure 1: LifeEngage Key Functions & Features at a Glance
LifeEngage is built on industry standard domain models and state of the art technical components
to provide you a flexible, scalable and robust solution.
LifeEngage Solution Overview
3
Cognizant Solutions Overview
LifeEngage provides you flexibility to go for either standalone installation of individual business
applications or end to end implementation, both on mobile or on web as seen in Figure 2.. While the
former can be easily integrated with your existing IT landscape, the latter unleashes the full benefits
of the product.
LifeEngage provides multiple benefits that have a direct positive influence on your top-line and bottomline. Based on past engagements we see that LifeEngage has significant positive influence in tracking
business Key Performance Indicators.
Figure 2: LifeEngage Platform - Mobile and Web User Interface Screens
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LifeEngage Solution Overview
WHY LIFEENGAGE FOR THE DIGITAL AGE INSURER? – THE BENEFITS
Policy sales cycle
time reduced by Upto
15 days
Upto Zero NIGO rates
Upto 30%
Improvement in
cross-sell/up-sell
Upto 20% reduction
in free-look
cancellations
LifeEngage Features
Figure 3: LifeEngage Features Influencing Key Business Levers to Provide Substantial Benefits
In short, LifeEngage is built for business—it improves sales, gets your products to market faster,
increases agent effectiveness, reduces customer acquisition costs, and delivers on the experience
and interaction customers expect.
LifeEngage Solution Overview
5
LET’S TALK
LifeEngage provides you flexibility to go for either standalone
installation of individual business. To experience Cognizant’s LifeEngage
in detail please contact us at LifeEngageBDSupport@cognizant.com.
About Cognizant
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services,
dedicated to helping the world’s leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.),
Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a
global, collaborative workforce that embodies the future of work. With over 100 development and delivery centers worldwide and
approximately 217,700 employees as of March 31, 2015, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global
2000, and the Fortune 500 and is ranked among the top performing and fastest growing companies in the world. Visit us online at
www.cognizant.com or follow us on Twitter: Cognizant.
World Headquarters
European Headquarters
India Operations Headquarters
500 Frank W. Burr Blvd.
Teaneck, NJ 07666 USA
Phone: +1 201 801 0233
Fax: +1 201 801 0243
Toll Free: +1 888 937 3277
1 Kingdom Street
Paddington Central
London W2 6BD England
Phone: +44 (0) 20 7297 7600
Fax: +44 (0) 20 7121 0102
#5/535 Old Mahabalipuram Road
Okkiyam Pettai, Thoraipakkam
Chennai, 600 096 India
Phone: +91 (0) 44 4209 6000
Fax: +91 (0) 44 4209 6060
© Copyright 2015, Cognizant. All rights reserved. No part of this document may be reproduced, stored in a retrieval system, transmitted in any form or by any means, electronic,
mechanical, photocopying, recording, or otherwise, without the express written permission from Cognizant. The information contained herein is subject to change without notice.
All other trademarks mentioned herein are the property of their respective owners.
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