Watford, ON (Apr. 11, 2023) — Lambton Mutual Insurance Company (LMIC) is pleased to announce they have successfully implemented Phase 1 of Cognition+ Accounting, transforming their transaction processing and reporting capabilities with the new functionality available with the Cognition+ Platform.
Users can easily manage accounts and AR/AP transactions, perform transfers to the general ledger, create and print cheques and generate revenue reports, all while benefiting from the same productivity-enabling tools and features enjoyed by their colleagues using Cognition+ Policy and Claims. Additional releases planned for 2023 will deliver further enhancements to accounts receivable functionality as well as unearned revenue reporting for IFRS 17 compliance.
“We are thrilled to continue our digital transformation with the move to the new Cognition+ Accounting,” says Deb Van Eyk, President of Lambton Mutual. “This latest deliverable of core platform functionality enables our team to perform their processes 100% digitally and enhances the workflows within the accounting department. The team is especially excited about the efficiencies created through the use of task management in the accounting module.”
“We are proud to have Lambton as the first Mutual to go live with Cognition+ Accounting. This marks a major milestone in the evolution of our software and is the culmination of a tremendous amount of work over the last year,” states Matthew Scott, President and CEO of Cognition+. “I’d like to congratulate the staff at Lambton Mutual and our product team for their tireless effort to achieve this first release, which we look forward to the rest of our client community adopting in 2023. This was a truly collaborative effort involving several members of the Mutual community, and I’d like to commend everyone on their exceptional teamwork.”
About Lambton Mutual Insurance Company
Lambton Mutual Insurance Company has been committed to its community and providing great service at a reasonable cost since 1875. A strong supporter of communities in Southwestern Ontario as well as the Canadian Mutual Insurance Industry, Lambton supports its agents and broker distribution channels through innovation and service to its mutual policyholders. Sound governance, where all policyholders are owners, supported by Lambton’s strong financial position will ensure they continue to support their policyholders and community at large well into the future. For more information, visit www.lambtonmutual.com.
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, 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: Cognition+, Lambton Mutual Insurance Company, Transformation