McCamish Systems, LLC, an Infosys company, specializing in insurance and retirement business process solutions, today announced a strategic business alliance with Resonant Software, a company with an underwriting and new business solution for the life insurance industry.
This partnering of two best-of-breed companies will offer enhanced capabilities to the life insurance BPO and SaaS market spaces. VPAS® Life, McCamish's robust life and annuity policy administration platform used in both BPO and SaaS service models, combines with Resonant Software's state-of-the-art Integrated Life Underwriting Suite (ILUS) to bring a significant value proposition, providing superior efficiency and flexibility for life insurance carriers.
Targeting both the simplified issue and fully underwritten markets, the McCamish - Resonant partnership provides a fully integrated solution, from the receipt of the application through policy administration in a BPO or SaaS model.
"For our clients and prospects who are writing new business, our alliance with Resonant provides a significant extension of our service solution," said Gordon Beckham, President and CEO of McCamish, an Infosys company. "As we sought a best-of-breed partner in this space, we conducted a thorough market study and were convinced that Resonant's product offered us the robust capabilities, configurability and flexibility that would allow us to best serve our clients."
"We are very excited about our partnership with Infosys," says William Frank, Chief Executive Officer of Resonant. "Combining our unique underwriting solution with the Infosys' world-class policy administration system will give life insurance carriers a new option as they look to expanding their product portfolios. The ease and speed of deployment as well as the flexibility of the solution will bring significant advantages to our clients."
Resonant's Integrated Life Underwriting Suite (ILUS) is software developed by underwriters for underwriters. Resonant's groundbreaking, adaptive process significantly reduces the cost and time of deployment, and improves cycle time, productivity and regulatory compliance. Resonant seamlessly integrates all the tools required to manage fully underwritten or simplified issue and straight through process applications, with unprecedented control and visibility.
About McCamish Systems and Infosys BPO
McCamish Systems, located in Atlanta, Georgia, is the Life Insurance and Retirement Services subsidiary of Infosys BPO Ltd. (infosysbpo.com), the Business Process Outsourcing subsidiary of Infosys Limited, which was set up in April 2002. Infosys BPO focuses on integrated end-to-end outsourcing and delivers transformational benefits to its clients through reduced costs, ongoing productivity improvements, and process re-engineering. Infosys BPO operates in India, the Czech Republic, Poland, Mexico, Brazil, USA, China, the Philippines and Australia, and as on March 31, 2012, employed 21,421 people. It closed FY 2011-12 with revenues of US$ 494.5 million.
About Infosys Ltd
Many of the world's most successful organizations rely on the 150,000 people of Infosys to deliver measurable business value. Infosys (infosys.com) provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow's enterprise.
Infosys Safe Harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2012 and on Form 6-K for the quarters ended June 30, 2011, September 30, 2011 and December 31, 2011.These filings are available at sec.gov Opens in a new window. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
For more information, contact:
Mark DePhillips, McCamish Systems
P: +1 770 690 1579 - E: Mark_dephillips[.]infosys.com.
Pat Byrne, Resonant Software
P: 860-368-8522 - E: Pbyrne[.]Resonant-Software.com.