​Cognizant bags multi-year IT deal from Insurer AXA

Software exporter Cognizant has said it has won a multi-year IT services deal from multinational Insurer AXA UK & Ireland, a digital win for the company amid lowering quarterly bookings last quarter.

AXA is looking at a more digitally enabled technology ecosystem with a focus on overall costs, and Cognizant will provide a wide range of IT services from service desk support to app development to IT infrastructure management.

Digitally enabled IT helps deliver better customer experience and cuts overall cost, Rob Walker, President for Global Growth Markets for Cognizant. Cognizant's banking and financial services business accounts for a little under a third of its $4.9 billion second quarter revenue, according to the company's earnings release. India CMD Rajesh Nambiar had said Cognizant would strive to maintain the growth rate in the vertical amid a pivot towards bagging more digital businesses.