Kochi: Cognizant (NASDAQ: CTSH) has expanded its relationship with ING U.S. to offer a comprehensive array of insurance business process services. ING U.S. is the US based retirement, investment management, and insurance operations of Dutch based ING Groep N.V. (NYSE: ING). The expanded seven-year, $330 million agreement builds on Cognizant’s ongoing success in providing specific technology systems management for ING U.S.
Under the terms of the new agreement, Cognizant will hire more than 1,000 ING U.S. employees in Minot, North Dakota and Des Moines, Iowa to create a world-class, US based centre of excellence for insurance and finance business process services. This centre will be an integral part of Cognizant’s global delivery network and will allow Cognizant to provide an expanded range of business process services spanning the insurance and financial services industries. Cognizant currently provides business process services to more than 40 clients in these industries.
As part of the multiyear agreement, Cognizant will purchase ING U.S.’s existing facility in Minot, North Dakota, and will sub-lease offices in the current ING U.S. facility in Des Moines, Iowa, providing business and workplace continuity for ING U.S. customers and the employees who will transition to Cognizant.
Gordon Coburn, President, Cognizant said, “We are pleased to partner with ING U.S. to launch our US based business process services centre of excellence for the insurance and finance industries. We look forward to welcoming ING U.S.’s employees to Cognizant and working with this highly talented group of individuals. Our new centre of excellence will serve as a key long-term component of our global delivery network and is yet another step in our ever-expanding in-country delivery capability.”
Rob Leary, President & COO, ING U.S said, “Leveraging Cognizant’s expertise will help us operate more efficiently while delivering the high levels of support our customers and distribution partners have come to expect. While this expanded relationship represents job continuity for our transitioned employees, it also allows us to focus on our ultimate mission – providing the retirement, investment management and insurance solutions that help our clients meet their financial needs.”
Kerala IT News