Cognizant inks new multi-year agreement with Zurich Beteiligungs-AG
Cognizant (NASDAQ:CTSH) has extended its relationship with Zurich Beteiligungs-AG, the German subsidiary of global insurance leader Zurich Insurance Group (Zurich).
The new agreement builds on and significantly expands the two companies' existing agreement, under which Cognizant (CTSH) successfully implemented and manage and maintain Zurich's General Insurance products on Guidewire.

As per the new agreement, the company will work closely with Zurich Germany to simplify, modernize, and manage and maintain the insurer's enterprise application landscape in the General Insurance domain.
The partnership will establish joint DevOps teams and is designed to extend Zurich Germany's artificial intelligence, data, software engineering and cloud capabilities.
Since the start of 2022, shares down 24%.