Atlanta, GA – December 7, 2011
McCamish Systems LLC, an Infosys BPO company, specializing in life insurance and retirement business process and technology solutions, today announced their strategic business alliance with Pegasystems Inc. (NASDAQ: PEGA), the leader in business process management and software for customer centricity.
This partnering of two best of breed companies will offer significantly enhanced capabilities to the insurance and retirement services marketplace. McCamish’s VPAS® Life, the robust life insurance and annuity Policy Administration System (PAS), is used in both BPO and in SaaS implementations by top life insurers in North America. McCamish’s unmatched life insurance and retirement services product capabilities will now be enhanced by Pega technology providing superior efficiencies, predictable business outcomes, unsurpassed flexibility and customized workflows. VPAS® Benefit Plan Administration, McCamish’s industry leading platform for 409A retirement plans, will also benefit from Pegasystems enhancements. This combination brings an extraordinary value proposition to life insurance and retirement services in BPO and SaaS market spaces.
Celent Senior Analyst Ben Moreland confirmed the significant impact of this combination in the market space saying, "The strategic alliance between Pegasystems and McCamish systems will thrust each company strongly forward in the life insurance and annuity solution space. Marrying the strength of Pegasystems’ BPM, case management framework with McCamish’s VPAS® Life solution will allow carriers a robust PAS solution with configurable business process and front-end capabilities. McCamish’s BPO-based solution offering with Pegasystem’s technology will provide insurers with the speed to market and usability needed in today’s marketplace, as well as provide process metrics demanded by carriers today, giving carriers the best of both offerings. The new life insurance and annuity solution should further leverage the strengths of both companies. The partnership should prove to drive VPAS® Life to be a market leader."
The McCamish - Pega alliance sets new standards for the next generation of client services with its multi-channel (web, mobile, etc.) and multi-geographical capabilities in a highly flexible and configurable environment. This combination delivers enhanced speed to market, increased visibility into operations and cost effectiveness.
"We are delighted to announce this strategic alliance," said Gordon Beckham, President and CEO of McCamish Systems, an Infosys BPO company. "As we add scale in the United States and abroad, we view the Pega solution set as a game-changer for us from a number of perspectives, but most importantly through improved servicing of existing clients and the ability to onboard new clients more rapidly."
Leo Sugg, Global Business Leader, Insurance, for Pegasystems said, "Our leading edge technology in insurance, retirement services and beyond, coupled with the well-known McCamish BPO intellectual property, is a powerful and compelling combination for the insurance and retirement services marketplace. Pegasystems looks forward to partnering with McCamish, and is confident that, together, we can deliver predictable business outcomes consistently in this highly competitive and cost-conscious environment."
Pegasystems, the leader in business process management and software for customer centricity, helps organizations enhance customer loyalty, generate new business, and improve productivity. Our patented Build for Change® technology speeds the delivery of critical business solutions by directly capturing business objectives and eliminating manual programming. Pegasystems enables clients to quickly adapt to changing business conditions in order to outperform the competition. For more information, please visit us at www.pega.com .
McCamish Systems, located in Atlanta, Georgia, is the Life Insurance and Retirement Services subsidiary of Infosys BPO Ltd. ( www.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 reengineering. Infosys BPO operates in India, the Czech Republic, China, the Philippines, Poland, Mexico, USA and Brazil and as on September 30, 2011 employed approximately 20,617 people. It closed FY 2010-11 with revenues of $426.8 million.
Many of the world's most successful organizations rely on the 142,000 people of Infosys to deliver measurable business value. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow's enterprise.
For more information about Infosys (NASDAQ: INFY), visit www.infosys.com
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, 2011 and on Form 6-K for the quarters ended December 31, 2010, June 30, 2011 and September 30, 2011. These filings are available at www.sec.gov. 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.