Cogitate Claims Management System To Streamline Traders Insurance's Claims Technology

Insurance CIO Outlook | Monday, August 01, 2022

Cogitate Claims Management System brings Traders Insurance up to date regarding claims processing.

FREMONT, CA: Managing claim management procedures efficiently is of the utmost significance. Negative results could result from ignoring any portion of it or mistaking it for a simple or ineffective assignment. Traders Insurance, a privately held regional insurer headquartered in Kansas City, Missouri, replaced its historical claim system with Cogitate's Claims Management System to upgrade its claims processes with the most advanced technology. Cogitate, a leader in accelerated digital insurance for Wholesale Brokers, MGAs, and Carriers, provides preparedness and relevance as the market develops rapidly.

"We look at claims as an opportunity to deliver on our promises to our policyholders. The Cogitate solution supports us in being great at what we do and remain true to our vision and culture.", explains Mark Concannon, CEO of Traders Insurance. "As important as the software itself, we found a partner in the Cogitate team that cares about excellence as much as we do. The new system provides better, quicker claim management, leading to more efficient internal processes and comprehensive reporting."

Traders Insurance, a car insurance specialist, utilized a homegrown claims system for several decades. While it served Traders well, the system did not offer the robust integrations and other features included in the Cogitate solution that decreased expenses and enhanced the customer experience.

"Several of our friends in the business use the Cogitate solution. They highly recommended Cogitate for their industry expertise, solution capabilities and their friendly team who work with the customer to solve their issues", states Patrick Concannon, COO of Traders Insurance. "Our new claims system engages users throughout the claim lifecycle. It is helping our team to reinvigorate claims processes to improve customer experience, increase efficiency, and reduce operational cost. It is pre-integrated with various third-party data services and also with our other internal systems for real-time exchange of information."

Samir Salem, Executive Vice President at Cogitate, comments, "The most important need for Traders Insurance was to transfer complete data from the old claim system to the new one. Many solution providers were unsure about delivering this requirement. At Cogitate, we have worked on similar requirements for other insurance providers before. We took up this challenge and delivered successfully. This is the Cogitate culture—we partner with our customers to provide them the required solutions and solve their problems."

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