Cognizant and CoreLogic Extend Decade-Long Relationship With $1B, Ten-Year Services Agreement

Rhea-AI Summary

Cognizant (NASDAQ: CTSH) has signed a new 10-year services agreement valued at approximately $1 billion with CoreLogic, enhancing their longstanding partnership. This agreement aims to leverage Cognizant's digital transformation expertise, focusing on cloud migration, automation, and platform innovations that will lower technology costs for CoreLogic. The collaboration seeks to improve customer experience and operational efficiency within the real estate sector. Since 2011, Cognizant has provided application development, analytical modeling, and business process services to CoreLogic, reinforcing their strategic relationship.

Positive

• New 10-year services agreement valued at $1 billion with CoreLogic.
• Expansion of services to leverage digital transformation expertise.
• Focus on innovation and operational efficiency expected to reduce costs.

Negative

• None.

Deal deepens scope of current collaboration with focus on delivering superior solutions and customer experience through digital transformation and operational excellence

TEANECK, N.J., Jan. 26, 2023 /PRNewswire/ -- Cognizant (NASDAQ: CTSH), a leading provider of information technology, consulting, and business process services, today announced a new, 10-year services agreement valued at approximately $1 billion with CoreLogic^®, a leading global property information, analytics and data-enabled solutions provider.

"Cognizant has been an invaluable partner for many years in helping build our platforms—giving clients the data-driven technology solutions they need to navigate business processes," said Abe Kuruvilla, Chief Information Officer at CoreLogic. "We are pleased to extend our relationship with Cognizant as we continue to leverage our many years of technology expertise and integrated digital solutions."

"We are thrilled to grow our relationship with CoreLogic and bring our technology prowess to bear in improving their user experience, digital tools, and processes utilized by professionals in their property information ecosystem," said Surya Gummadi, President of the Americas, at Cognizant. "Real estate, mortgage lifecycle, and insurance transactions depend on accurate, timely data and analytics. We are committed to helping CoreLogic provide this critical intelligence to clients while enhancing their user experience and further streamlining operating efficiency."

Building on their highly successful, decade-long strategic relationship, CoreLogic and Cognizant have agreed to expand their existing alliance. This new agreement features:

• Expansion of Cognizant's services and anticipated value for CoreLogic, leveraging Cognizant's digital transformation expertise particularly in cloud migration, automation, and industry-specific platform innovations;
• Significant commitment to innovation and automation expected to benefit CoreLogic through lower technology and operations costs over the lifetime of the agreement; and,
• Strong focus on driving customer experience improvement through operational excellence.

Since 2011, Cognizant has been a trusted service delivery partner, providing capabilities in application development and support, analytical modeling, and domain-centric business process services to CoreLogic and its customers, primarily in the U.S. mortgage and real estate markets. Together, CoreLogic and Cognizant have delivered key end-to-end business process and analytics solutions across CoreLogic's property information ecosystem.

About CoreLogic 
CoreLogic is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources include over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

About Cognizant 
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.

For more information, contact:
Cognizant U.S. Jodi Sorensen jodi.sorensen@cognizant.com   Cognizant India Rashmi Vasisht rashmi.vasisht@Cognizant.com   Cognizant Europe / APAC Christina Schneider christina.schneider@cognizant.com	CoreLogic Robin Wachner newsmedia@corelogic.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/cognizant-and-corelogic-extend-decade-long-relationship-with-1b-ten-year-services-agreement-301730883.html

SOURCE Cognizant

FAQ

What is the value of Cognizant's new agreement with CoreLogic?

The new agreement is valued at approximately $1 billion.

How long is the new services agreement between Cognizant and CoreLogic?

The agreement has a duration of 10 years.

What areas will Cognizant focus on in the new agreement with CoreLogic?

Cognizant will focus on digital transformation, cloud migration, and automation.

When was the announcement made regarding Cognizant's agreement with CoreLogic?

The announcement was made on January 26, 2023.

What is the primary goal of Cognizant's collaboration with CoreLogic?

The primary goal is to improve customer experience and operational efficiency.