Insurance sector faces numerous challenges that can affect its growth and effectiveness. One such difficulty is the complicated and time-consuming underwriting and claims assessment procedure, which is frequently prone to delays and errors. But these challenges can be overcome with the use of technology.

We at Cogitate believe that the future belongs to those who can embrace technology to drive operational excellence in the constantly evolving insurance industry. With the help of our cutting-edge digital technologies, we strive to simplify insurance services. Our digital insurance software is expertly designed to empower insurance providers by integrating all facets of their business processes. Our technology completely transforms how the insurance industry operates, from policy management and claims processing to client engagement.

At the heart of our range of services lies the a dynamic gateway that transforms how insurance professionals communicate with customers and policies. The agility and effectiveness of insurance agents are improved by this user-friendly portal's real-time access to crucial customer information, policy data, and underwriting tools. Additionally, by orchestrating the whole insurance lifecycle and using data-driven insights to improve customer experiences, our digital insurance platform optimizes business operations.

First Tier Underwriters Selects Cogitate

We are happy and proud to announce that First Tier Underwriters, a Georgia-based specialty insurance wholesaler, has chosen us to replace its proprietary policy system, help digitize and streamline its new business, underwriting, and policy administration processes, and enable future growth and scale. While the proprietary policy system has its own sets of advantages, there are some challenges with the system. Some of them include time consuming processes, lack of expertise and expensive software development. We aim to overcome those changes with the tools at our disposal.

Ty McGinty, President of First Tier Underwriter, talked about their future plans and their decision to work with us. He explained FTU's goal to replace their proprietary system with the out-of-the-box offering of DigitalEdge Policy and secure this long-term partnership. He also added "The value proposition allows us to establish our base functionality today, with the option to address greater operational needs as we expand".

Tushar Bhole, Executive Vice President of Sales and Partnerships at Cogitate, also shared his excitement about working with FTU. He stated, "This is a great example of the launch of out-of-the-box capabilities to hit the ground running with expanded functionality over time in a manner that meets FTU’s ROI requirements."

About Cogitate’s Digital Edge Policy

Insurance companies, MGAs, wholesalers, and program managers may update their operations using Cogitate's DigitalEdge Policy to improve their efficiency, accelerate time to market, and quickly respond to changing consumer demands. By linking with core and legacy systems, it speeds up the digitalization of insurance and offers the advantages of third-party data interfaces.

DigitalEdge Policy improves the channel partner and customer experience by providing a variety of insurance technologies, like digital sales and service infrastructure, integrated mobile apps, chatbots, artificial intelligence, machine learning, and advanced analytics.

For instance, an insurance business can use DigitalEdge Policy to cut the time it takes to develop new products by almost 50%. This would also allow them to quickly provide a variety of unique coverage options to the market, giving them a competitive advantage and boosting client satisfaction.

Additional products by Cogitate

DigitalEdge Billing: DigitalEdge Billing allows end-to-end billing lifecycle management for both personal and business lines with a scalable design for your current and future needs. It enables increased agility and responsiveness in a continually changing industry and develops customer expectations through real-time information processing and a user-friendly interface.

DigitalEdge Claims: Cogitate DigitalEdge Claims, with its comprehensive, innovative, and highly flexible solutions, adds value to businesses by reducing claim response time and providing superior experiences for your customers. Furthermore, it streamlines claims processing through the use of a variety of modern technology, resulting in lower expenses and leaks as well as increased productivity and efficiency.

If you are an Insurance company that is looking to take the next step and embrace technology, you can contact us. We have worked with numerous insurance companies including Southern General Insurance Company, Preferred Mutual Insurance Company, Rothert Insurance and more. Visit our website to learn more about our services.