Waterford, ON (Aug. 22, 2022) – CTM Insurance Company (CTM) is pleased to announce they have successful implemented the Cognition+ Claims solution, energizing the claims process for their team and policyholders. The addition of the claims module to CTM’s Cognition+ Platform marks another milestone in CTM’s Digital Transformation Strategy that targets significantly improved workflow and customer management capabilities. The project was a fast-follower to their full implementation of their underwriting lines of business. The system conversion was completed on time and within budget, with immediate adoption of the intuitive system by the CTM team, delivering a leading-edge solution for policyholders.
The Claims solution, in conjunction with Cognition+ Policy and Underwriting functions, delivers an enterprise-level experience in managing policyholder relationships in a digital world. Specifically, the Cognition+ Claims solution provides best-in-class workflows through task and document management, relationship governance, and guided work plans to assist in fulfilling the claims process. The solution streamlines omni-channel communication and offers transparency for complex claims resolution.
With a combination of case management, catastrophe claims event management, and simplified sub-file management, the solution ensures speedy claim settlement. The Cognition+ Claims solution’s comprehensive reserve and claims payment functionality allows for multiple payees and multiple payment distribution methods. It also offers an efficient approach to managing deductible and reinsurance, as well as salvage, subrogation, and recovery.
“The Cognition+ Platform with the added Claims module allows us to continue our journey towards digitalization and better position ourselves to serve our policyholders. Our team worked collaboratively with the team at Cognition+ to move this project forward. The new guided workflows and task management system ensures all aspects of the claims handling process are actioned within our system. This allows for a quicker overall claims experience for our policyholders. We enjoy a great working relationship with Cognition+ and look forward to working with them on upcoming projects as we continue our Digital Journey,” outlines Neil Shay, President and CEO of CTM Insurance Company.
“CTM continues to drive their digital strategy through their investment in Cognition+. Our teams did a great job keeping the Claims project on track while delivering a high quality, intuitive solution. This shows a high level of dedication and willingness to drive change across organizations. Cognition+ continues to focus on delivering extraordinary value through our service, support and delivery of our enterprise insurance platform. We are honoured to have CTM as a client and are committed to supporting their strategic goals now, and into the future,” states Matthew Scott, President and CEO of Cognition+.
About CTM Insurance Company
Caradoc Townsend Mutual (CTM) has served the counties of Ontario’s South Coast for more than a century. CTM began in 1879 by a group of farmers looking for affordable insurance not available through larger, international companies. In the years since, CTM has thrived and continued to provide insurance solutions to people across Southern Ontario. With Offices in Waterford and Komoka, we are well placed to serve our clients, and we remain committed to our communities. For more information, visit www.ctmins.ca.
Cognition+ is an insurance technology provider that empowers insurance companies of all sizes to digitally transform and gain a 360° view of their business. In addition to a fully customizable Enterprise Insurance Management Platform, Cognition+ offers on-demand support, connectivity, cybersecurity, and development services. Established in 1996, and wholly-owned by its clients, Cognition+ has strong longstanding relationships with insurance and technology partners focused on innovation and mutual success. For more information, visit gocognition.com.
SOURCE: Cognition+Tags: Caradoc Townsend Mutual (CTM) Insurance, Cognition+, modernization, partnership, platform