Sunnyvale, CA—September 19, 2024—Vymo, a leading multi-channel distribution management platform powered by AI for the global insurance industry, has announced a strategic partnership with Cognizant, a global leader in systems integration. Cognizant, which was ranked last year’s Fortune Modern Board 25 for its success in driving digital transformations, will collaborate with Vymo to accelerate innovation in the insurance sector. Together, they will use Vymo’s machine learning and AI-driven technology to streamline agent recruitment, onboarding and compliance, enhance sales opportunities, reduce salesforce turnover and identify new ways to facilitate growth within the industry.
“The use of AI and machine learning has become ubiquitous across nearly every industry, and insurance is no exception,” notes Phil Brown, Vymo VP of Strategic Alliances. “However, while the insurance sector has been leveraging it for back-end processes such as claims management, fraud detection, and reducing payout losses, the application of AI to transform front-end operations has largely been unexplored.” Vymo’s partnership with Cognizant aims to bring about transformative change to the insurance industry by ushering in new capabilities around streamlined recruitment, compliance and sales management and execution strategies.
Notes Phil Brown, “With Vymo, agents gain comprehensive access to customer portfolios, including policy details, payment statuses, claim histories, and opportunities for cross-selling and upselling. Every day, when an agent logs into their device—be it a mobile phone, tablet, or desktop—Vymo provides a prioritized list of tasks tailored to optimize their sales efforts. Whether it’s reminding agents of upcoming policy renewals or prompting follow-ups with potential clients, Vymo’s AI-driven insights help ensure no opportunity is missed.”
For the purposes of training and continuous learning, Vymo’s platform offers deep, AI-driven guidance. With access to data points within a firm’s entire book of business and with visibility into what is and isn’t effective, Vymo’s analysis guides on actions that lead to better decisions, identifies new opportunities within customer bases or new markets, thereby driving sales growth and enhancing customer retention. “This holistic view also allows both individual agents and agencies to track their success across metrics such as policy sales, business retention rates, and overall premium revenue,” adds Phil Brown.
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About Vymo®
Vymo is a global provider of a smart distribution management platform powered by AI to deliver data-driven insights and transform the way your business operates. It has been meticulously crafted for insurers, MGAs, FMOs, IMOs, and insurance distributors who have outgrown legacy sales and account management tools and require greater automation for producer administration and sales processes. Vymo's platform features a suite of modular applications – including OnboardIQ and EngageIQ, and is engineered to deliver a superior producer experience through critical steps in the sales process; such as onboarding, compliance, activity tracking, and sales enablement.
Vymo has secured over $45M in funding from Peak XV Partners, Emergence Capital, and Bertelsmann India Investments, and is also an award winner of CB Insights' and Microsoft's 'AI for All' awards.
For more information, please visit www.GetVymo.com. Connect with Vymo on Linkedin.
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