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Cognizant Automated Underwriting from Cognizant
AI-driven decision support, end-to-end digitization of new business and underwriting, straight-through processing, workflow automation, risk scoring, and integration with medical, financial, and behavioral data sources.
Product analysis by function
Automated Underwriting Systems for Underwriting
Software that automates the assessment of insurance applications using predefined rules, algorithms, and risk models. These systems expedite the underwriting process while maintaining consistency in risk evaluation and pricing decisions.
More Automated Underwriting Systems
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Core Underwriting Functionality
(7 Yes /7 Known /13 Possible features)
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Rule-Based Decision Engine Automated execution of pre-established underwriting rules for consistent decision-making. |
Product description mentions automated execution of rules and straight-through processing, indicating a rule-based decision engine. | |
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Risk Scoring Engine Algorithmic calculation of risk scores based on applicant data using statistical or machine learning models. |
Risk scoring explicitly mentioned in product description. | |
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Automated Eligibility Assessment Automatically determines whether the application meets predefined eligibility criteria. |
AI-driven decision support and straight-through processing imply automated eligibility assessment. | |
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Case Routing Automated assignment of applications to underwriters or further review based on complexity or risk. |
Workflow automation infers automated case routing capability. | |
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Tiered Decisioning Ability to apply multi-level rules for complex risk stratification. |
No information available | |
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Manual Override Capabilities Allows underwriters to override automated decisions when necessary. |
No information available | |
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Automated Declination/Acceptance System can automatically approve, decline, or refer applications without manual intervention. |
Product highlights straight-through processing, which requires automated declination/acceptance. | |
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Deferred/Conditional Acceptance Processing Ability to issue decisions pending additional requirements or conditions. |
No information available | |
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Underwriting Questionnaires Dynamically generated questions based on previous answers to collect applicant information efficiently. |
No information available | |
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Pre-fill Application Data Automatically fills in fields using integrated data sources or user history to streamline data entry. |
Notes reference data pre-fill from integrated sources (medical, financial, behavioral), which aligns with pre-fill application data. | |
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Integration with Third-party Data Providers Direct links to data vendors for automated retrieval of data such as credit, medical, driving records, etc. |
Integration with medical, financial, and behavioral data sources is stated explicitly. | |
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Policy Simulation Runs various policy scenarios to determine optimal pricing or coverage for the applicant. |
No information available | |
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Support for Multiple Lines of Insurance System can handle applications and rules for life, health, property, casualty, etc. |
No information available |
Workflow Management
(5 Yes /5 Known /10 Possible features)
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Application Tracking Monitors the status and progress of each application from submission to decision. |
End-to-end digitization and workflow automation typically include application tracking. | |
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Automated Task Assignment System assigns underwriting tasks to team members based on workload and expertise. |
Workflow automation suggests existence of automated task assignment. | |
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Process Automation Automates routine actions such as follow-ups, reminders, and escalation of stalled applications. |
Process/workflow automation implies routine actions are automated. | |
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Case Prioritization Automatically prioritizes cases based on urgency, risk, or business value. |
No information available | |
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Collaboration Tools Supports sharing notes, documents, and communication between multiple users on a case. |
No information available | |
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Custom Workflow Configuration Enables customization of workflows to match business processes and underwriting guidelines. |
Workflow automation often includes custom workflow configuration for business needs. | |
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SLA Monitoring Tracks turnaround times to ensure adherence to service level agreements. |
No information available | |
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Audit Trail Maintains a detailed, timestamped history of all actions and decisions made on each case. |
Audit trail is a standard feature for automated insurance systems. | |
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Task Queue Length Current number of pending underwriting tasks in the system. |
No information available | |
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Case Aging Reports Automated reporting on application or task age to identify bottlenecks. |
No information available |
Data Integration and Management
(4 Yes /4 Known /10 Possible features)
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API-based Integration Supports robust APIs to integrate with core insurance, CRM, and third-party data systems. |
Integration with data sources and workflow tools implies robust API support. | |
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Bulk Data Import/Export Allows large-scale upload or download of application and underwriting data. |
No information available | |
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Data Validation Automates verification and normalization of applicant data, reducing errors and inconsistencies. |
Automation/pre-fill of data suggests automated data validation to reduce entry errors. | |
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Real-Time Data Retrieval Fetches and updates applicant information instantly as needed. |
Real-time integration with external data sources infers real-time data retrieval. | |
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Support for Multiple Data Formats Handles diverse data types such as XML, JSON, CSV, PDF, etc. |
No information available | |
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Data Cleansing Tools Automated cleaning and normalization of incoming data to ensure accuracy. |
No information available | |
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Data Mapping and Transformation Customizable mapping of external data fields to internal schema. |
No information available | |
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Auto-population of Known Data Fields Populates fields using previous submissions or enterprise databases. |
Pre-fill and historical data usage indicate auto-population using enterprise databases. | |
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Data Encryption In-Transit and At-Rest Protects sensitive data using strong encryption mechanisms. |
No information available | |
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Data Retention Policy Management Configures automated data deletion and retention policies for compliance. |
No information available |
Performance and Scalability
(1 Yes /1 Known /10 Possible features)
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Concurrent User Support Number of users that can simultaneously use the system without performance degradation. |
No information available | |
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Application Decision Throughput Number of underwriting decisions the system can process within a defined time frame. |
No information available | |
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Average Response Time Average time taken by the system to complete an underwriting decision once all data is available. |
No information available | |
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Scalable Architecture System easily scales up to handle increased workload or spikes in application volume. |
AI-driven architecture and support for digital end-to-end processes implies scalability. | |
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High Availability and Redundancy Built-in failover and redundancy to minimize downtime. |
No information available | |
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Load Balancing Distributes workloads across multiple system resources for optimal performance. |
No information available | |
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Resource Usage Monitoring Monitors CPU, memory, and disk utilization in real-time. |
No information available | |
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Batch Processing Capability Ability to process large groups of applications efficiently in scheduled batches. |
No information available | |
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Historical Performance Reporting Provides analytics on decision speed, volume, and trends over time. |
No information available | |
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Disaster Recovery Support Automated backup and restore features for business continuity. |
No information available |
User Experience and Accessibility
(2 Yes /2 Known /10 Possible features)
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Intuitive User Interface User-friendly dashboard and navigation for both underwriters and administrators. |
Modern digital insurance solutions prioritize intuitive UI for underwriters and admins. | |
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Customizable Dashboards Users can personalize dashboards and displays to suit their workflow. |
No information available | |
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Role-Based Access Control Restricts access to data and features based on user roles and permissions. |
Role-based security is standard for underwriting and insurance solutions, aligning with data privacy compliance. | |
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Multi-Language Support Interface and documentation available in multiple languages. |
No information available | |
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Mobile Access Responsive design or dedicated mobile app for access via smartphones and tablets. |
No information available | |
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Accessibility Compliance Meets accessibility standards (e.g., WCAG) for users with disabilities. |
No information available | |
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Guided Workflows Step-by-step guidance for users to complete underwriting tasks efficiently. |
No information available | |
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Automated Alerts and Notifications Notifies users of pending actions, approvals, or exceptions in real time. |
No information available | |
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Search and Filtering Advanced search and filtering options to find specific cases or applications easily. |
No information available | |
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Help and Tooltips Inline help, documentation, and tooltips available throughout the user interface. |
No information available |
Compliance and Regulatory Support
(3 Yes /3 Known /10 Possible features)
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Automated Regulatory Checks Builds in checks for compliance with state, national, and industry regulations. |
No information available | |
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Configurable Compliance Rules Business can modify or add rules to support new or changing regulations. |
No information available | |
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Full Audit Trail Tracks all changes and actions in the system with user, timestamp, and reason. |
Audit trails and compliance tracking are standard in end-to-end insurance solutions. | |
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Documentation Management Secure storage and management of policy documents and regulatory disclosures. |
Product handles digital documents, suggesting secure document management. | |
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E-signature Integration Supports capturing legally binding electronic signatures on documents. |
No information available | |
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Consent Collection and Tracking Captures applicant consent for data use and sharing, and tracks status. |
No information available | |
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Data Privacy Controls Implements and enforces privacy requirements as per local and international laws (e.g., GDPR, CCPA). |
Integration with medical, financial, and behavioral data sources implies enforcement of data privacy and likely compliance with laws such as GDPR/CCPA. | |
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Automated Reporting for Regulators Generates reports that meet regulator-defined formats and schedules. |
No information available | |
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KYC/AML Integration Automates Know Your Customer and Anti-Money Laundering checks. |
No information available | |
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Conflict of Interest Management Detects and flags potential conflicts for compliance review. |
No information available |
Analytics and Reporting
(1 Yes /1 Known /10 Possible features)
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Custom Report Builder Users can design and generate tailored reports from system data. |
No information available | |
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Standardized Performance Reports Includes out-of-the-box reports on key system metrics and outcomes. |
No information available | |
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Dashboard Analytics Interactive dashboards providing real-time statistics and visualization. |
No information available | |
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Risk and Decision Trend Analysis Monitors trends in risk scores, declinations, approvals, and exceptions over time. |
No information available | |
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Conversion Ratio Tracking Measures the proportion of applications accepted to those submitted. |
No information available | |
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Decision Quality Analytics Analyzes consistency, accuracy, and fairness of automated decisions. |
No information available | |
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Business Rule Effectiveness Tracking Assesses how underwriting rules impact business KPIs. |
No information available | |
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Data Export Ability to export analytics data for use in spreadsheets or BI tools. |
No information available | |
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Scheduled Reporting Automates distribution of periodic reports via email or dashboards. |
No information available | |
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Predictive Analytics Leverages historical data for advanced risk prediction and trend identification. |
AI-driven underwriting and trend analysis (risk scoring) indicate the use of predictive analytics. |
Security
(1 Yes /1 Known /10 Possible features)
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Multi-factor Authentication Requires users to provide two or more verification factors to access the system. |
No information available | |
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Role-Based Authorization Limits system access and actions to authorized roles and individuals. |
Role-based access control is explicit; role-based authorization is standard for compliance across enterprise insurance platforms. | |
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Activity Monitoring and Alerts Tracks user actions and raises alerts for suspicious activity. |
No information available | |
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Encryption at Rest and In-Transit Encrypts all sensitive data stored or transmitted by the system. |
No information available | |
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Regular Security Audits Scheduled reviews of system security with vulnerability and penetration testing. |
No information available | |
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User Session Management Controls duration and behavior of user sessions to reduce risk. |
No information available | |
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Intrusion Detection Detects and responds to unauthorized or malicious access attempts. |
No information available | |
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Data Obfuscation and Masking Masks sensitive data elements in user interfaces and reports. |
No information available | |
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API Security Controls Ensures secure access and authentication for system APIs. |
No information available | |
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Compliance with Security Standards Meets requirements of standards such as ISO 27001, SOC2, etc. |
No information available |
Configurability and Customization
(3 Yes /3 Known /10 Possible features)
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Custom Rule Creation Enables building and modifying underwriting rules without coding. |
AI-driven and automated workflow approach often includes UI-based and no-code tools for rule management. | |
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Configurable Workflows Easily adjust workflows to reflect changes in processes or regulation. |
Workflow automation and end-to-end digital approach implies configurable workflows. | |
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Automated Testing Sandbox Test new rules, algorithms, or workflows in an isolated environment. |
No information available | |
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Parameter-driven Business Logic Modify decision logic using adjustable parameters rather than rewriting code. |
No information available | |
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Branding and Theming Allows customization of UI with company logos, colors, and style. |
No information available | |
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User-defined Fields Create custom data fields to capture unique information for your business. |
No information available | |
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Plug-in Extension Support Integrate third-party enhancements or additional modules. |
Integration with external systems (medical, financial, behavioral data) suggests support for plug-in/extension architecture. | |
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Localization Customizes language, currency, and regional settings. |
No information available | |
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Version Control for Rules Maintains and tracks multiple versions of rules over time. |
No information available | |
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Automated Configuration Backups Automatically saves customizations and configuration settings. |
No information available |
Integration and Extensibility
(1 Yes /1 Known /10 Possible features)
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Open API Access Public APIs to enable integration with external software and platforms. |
API-based integration for external data and workflow partners typically provides open/public APIs. | |
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Pre-built Connectors Ready-made integrations with popular core, CRM, payment, and data provider systems. |
No information available | |
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Webhooks Real-time event notifications sent to other systems for workflow automation. |
No information available | |
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Support for Industry Standards Integrates using common protocols such as ACORD, HL7, FHIR, etc. |
No information available | |
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Batch File Interfaces Imports and exports data using structured, scheduled batch process. |
No information available | |
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Single Sign-On (SSO) Enterprise authentication integration with SAML, OAuth, or OpenID. |
No information available | |
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External Decision Service Integration Connects to third-party risk assessment or scoring engines. |
No information available | |
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Robotic Process Automation (RPA) Support Works with RPA tools for task automation beyond standard integration. |
No information available | |
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Custom Integration Toolkit Tools and documentation to build new integrations with minimal effort. |
No information available | |
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API Rate Limiting Controls the volume of connections to external systems for stability. |
No information available |
Support, Maintenance, and Vendor Services
(0 Yes /0 Known /10 Possible features)
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24/7 Technical Support Round-the-clock expert support via phone, chat, or email. |
No information available | |
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Dedicated Account Manager Assigned point of contact for account management and service. |
No information available | |
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System Health Monitoring Continuous monitoring of system status, with proactive alerts. |
No information available | |
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Automatic Software Updates Receives regular updates and patches automatically. |
No information available | |
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Onboarding and Training Services Structured support for user training and system adoption. |
No information available | |
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Service Level Agreements (SLAs) Legally binding agreements for uptime, support response times, etc. |
No information available | |
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Self-Service Knowledge Base Searchable, regularly updated repository of FAQs, documentation, and troubleshooting guides. |
No information available | |
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Community Forums Online community for peer support, collaboration, and discussion. |
No information available | |
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Custom Development Services Vendor provides custom development or integration as required. |
No information available | |
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Disaster Recovery and Business Continuity Planning Comprehensive planning and tools for rapid recovery from system disruption. |
No information available |
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