Outsourcing firm Cognizant will take on the processing work for US-based insurance company Nationwide’s commercial insurance lines. This comes as the insurance company has decided to outsource some back-office work that would affect up to 500 in-house employees.
The company says many of the employees that are impacted will be eligible to apply for 1,200 other job openings that the firm has across the country and that hence it cannot comment on how many employees will be out of work.
The outsourcing move is expected to be completed by mid-2021. Cognizant is one of the top three technology services providers to property and casualty insurance companies, and already counts UnitedHealth Group and National Life among its major insurance clients.