Cogneesol – A Major Contender in Everest Group’s P&C Insurance BPS PEAK Matrix® Again

Cogneesol has been recognised as a Major Contender in Everest Group’s P&C Insurance BPS PEAK Matrix for the year 2022. With this, we have received this recognition two years in a row.

The PEAK Matrix Assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading P&C Insurance BPS providers, client reference checks, and ongoing analysis of the P&C Insurance BPS market.

“Consistent upward trend in the PEAK Matrix. This is a major validation of our concerted vision of value-driven services, consistent delivery excellence, and our customer first strategy,” said Taran Sidhu, Chief Executive Officer, Cogneesol. “Everest Group’s positioning of Cogneesol’s P&C Insurance solutions in its prestigious BPS PEAK Matrix Assessment + our steady and consistent climb, gives us the impetus to go for more. The team is all raring to get to the next level.”

Ashim Khurana, Chief Operating Officer, Cogneesol, said, “Operational excellence, value additions has been our primary focus over the past few years. Our teams have been working on augmenting our delivery capabilities with automation, data analytics and generative AI technologies. These are bearing fruits now. The improvement in Cogneesol’s positioning in Everest Group’s BPS PEAK Matrix testifies that we are on the right track.”

“In a market, defined by stringent regulation and the push for digitization, insurers are compelled to enhance systems and customer engagement. Service providers, in turn, are tasked with deploying innovative, cost-effective solutions to ensure agility and competitiveness. Cogneesol is a pivotal partner for small to mid-sized P&C insurers, agencies, MGAs, and brokers, delivering operational support that includes foundational automation and analytics to drive strategic business evolution. Its expansion into services like actuarial support and software development, combined with their deep domain expertise, positions them distinctively in the North American landscape,” said Abhi Kothari, Practice Director, Everest Group. “Additionally, its focus on customer-centricity and strategic partnerships is transforming capabilities for mid-tier clients, cementing Cogneesol’s standing as a Major Contender in the Everest Group Personal and Casualty (P&C) Insurance BPS PEAK Matrix® Assessment 2023.”

Factors contributing to Cogneesol’s northwards climb in the PEAK Matrix

The PEAK Matrix report shows that Cogneesol has moved up the graph convincingly from its position in 2021. We have scored high on parameters such as market adoption, portfolio mix, and value delivered in the market impact segment, and across vision and strategy, scope of services offered, innovations and investments under the vision and capability segment.

Through the years, Cogneesol’s biggest strengths has been its delivery excellence. This has resulted in high customer satisfaction and client references. The report makes a mention of this and highlights that the referenced clients who were interviewed appreciated the domain, transition, and flexibility that Cogneesol brings to the table.

Further, the report recognises our strengths across our steady geographical expansion, focus on carrier and MGA markets, investments in targeted technology solutions, and domain upskilling of talent through relevant certifications and courses such as for underwriting. It also points to our decent growth in the P&C insurance segment and acknowledges our healthy pipeline in different geographies such as North America, the U.K., and Asia Pacific, especially the ANZ region. Our gradual movement into the large clients’ space with opportunities of a greater volume of work has been another reason for our good performance.

Over and above, our focus on building a diversified portfolio within commercial lines has been recognised by the PEAK Matrix Assessment. Our steady foray into niche product lines such as aviation insurance, sexual harassment insurance, cybersecurity risk, and liability insurance of software products have helped us climb the graph. And finally, our investments in technology, analytics is leading to greater traction in the specialty insurance area.

A validation of our commitment to value-driven services, consistent delivery excellence, and a customer-first strategy

As Cogneesol continues to climb to newer heights, the BPS PEAK Matrix positioning will serve as a catalyst for the team’s determination to reach the next level of excellence. We will continue to evolve our offerings and our capabilities to remain valuable partner for our clients.