Cognizant Solutions Overview

LifeEngage Solution Overview LifeEngage Solution Overview 1 PB

Solution Overview

LifeEngage™: The Life Insurance Platform for the Digital-Age Insurer

Cognizant Solutions Overview

LifeEngage Solution Overview2

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:

• How do I increase revenue and stayahead of the competition?

• How do I build stronger customerrelationships and enrich customerexperience while selling?

• How do I ensure right products aresold to the customer and ensureregulatory compliance?

• How do I reduce administrativeoverheads in the selling process whileremaining effective?

• How do I increase the effectiveness ofmy sales force and help them sell betterand faster?

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 Solution Overview 3

Figure 1: LifeEngage Key Functions & Features at a Glance

Agent Service Customer Service

• Performance & Compensation

• Alerts• My Business• Rewards &

Recognition• Knowledge

center• Statements

• Policy Enquiry

• Proposal Enquiry

• Transaction triggers

• Premium Calendar

• Alerts

Product Configuration

Financial Need Analysis

Sales Illustration

Sales Fulfillment

Underwriting Integration

• Case Management

• UW Workbench

• Referrals• Automated

rating• Loading &

Exclusions

• Smart data capture

• Reflexive questions

• Document upload

• E-signature• Online

payment• STP

• Quick quote• Benefit

illustration• Inforce

Illustration• Quote

Comparison• Illustration

PDF generation

• Life Stage analysis

• Risk profiling

• Need based calculation

• Graphs & Charts

• Product Recomm. & selection

Configuration UIs for• Core

product attributes

• Rates and Charges

• Rules• Forms & pdf

templates

BYOD Support

Multi Device

MultiPlatform

Online –Offline Sync

Rule Driven

Workflow enabled

Multi-Channel Support

Office in a BoxFor partners & producers

Once & Done In Sales Process

Business Themes

Functional Components

Key Features

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.

• 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

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 PRODUCT FEATURES

Cognizant Solutions Overview

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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 bottom-line. 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 Features

Figure 3: LifeEngage Features Influencing Key Business Levers to Provide Substantial Benefits

Policy sales cycle time reduced by Upto

15 daysUpto Zero NIGO rates

Upto 30% Improvement in cross-sell/up-sell

Upto 20% reduction in free-look

cancellations

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.

WHY LIFEENGAGE FOR THE DIGITAL AGE INSURER? – THE BENEFITS

© 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.

World Headquarters

500 Frank W. Burr Blvd.Teaneck, NJ 07666 USAPhone: +1 201 801 0233Fax: +1 201 801 0243Toll Free: +1 888 937 3277

European Headquarters

1 Kingdom Street Paddington Central London W2 6BD EnglandPhone: +44 (0) 20 7297 7600 Fax: +44 (0) 20 7121 0102

India Operations Headquarters

#5/535 Old Mahabalipuram RoadOkkiyam Pettai, ThoraipakkamChennai, 600 096 IndiaPhone: +91 (0) 44 4209 6000Fax: +91 (0) 44 4209 6060

18851/rotl/6-15

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.

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.