Cognizant and Venbrook Group have entered into a strategic partnership to modernise property and casualty claims processing services. The collaboration aims to improve efficiency, reduce costs for carriers, and reshape the claims lifecycle with advanced technology.
Venbrook is a property and casualty claims third-party administrator and private insurance brokerage based in the United States. This agreement expands its association with Cognizant, which will now serve as both a services provider and a go-to-market partner.
As part of the partnership, Cognizant and Venbrook Group will introduce an agentic AI-powered third-party administrator claims solution. The platform has been co-developed to digitise essential parts of the claims value chain for property and casualty carriers, responding to the rising demands of the TPA market.
Cognizant will provide a range of services under the agreement, including claims processing, policy administration, financial operations, and compliance support. These services will be integrated with Venbrook’s nationwide network of licensed adjusters to ensure smooth operations.
Cognizant highlighted findings from Allied Market Research, which estimates the third-party administrator market will grow to 795 billion dollars by 2032.
The joint solution will integrate agentic AI to manage complex claims tasks and orchestrate workflows. Generative AI will be used to enhance customer communications and compliance processes, while predictive modelling will enable proactive decision-making.
The new operating model is designed to speed up claims processing, improve accuracy, detect fraud earlier, and help scale operations during high-volume periods. It also aims to deliver higher customer satisfaction while lowering operational expenses.
Jason Turner, founder and chief executive officer of Venbrook, said, “This is a much-needed solution in our industry, the first-of-its-kind, and will be valuable to our clients who rely on us to deliver efficiency, transparency and results. Together we can help carriers address critical challenges within the claims process to reduce costs, scale quickly during peak seasons and improve accuracy to deliver measurable savings and a better customer experience.”
Ganesh Ayyar, president of intuitive operations, automation and industry solutions at Cognizant, added, “By combining our agentic AI and generative AI solutions with Venbrook’s proven TPA expertise, we’re delivering a solution that transforms operations and elevates the customer experience for carriers and policyholders alike.”
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