Bangalore – August 07, 2012
Infosys BPO Ltd., today announced that its VPAS® Life platform was evaluated by Gartner Inc., and has been rated ‘Positive' in the MarketScope for North American Life Insurance Policy Administration Vendors report 1. Infosys BPO was rated with 14 other providers of life insurance policy administration systems.
“In our opinion, this report is yet another proof of the powerful combination of McCamish Systems and Infosys BPO, as well as our ongoing commitment to the market, significant continuing investments, as well as robust market success during the evaluation period,” said Gordon Beckham, President and CEO of McCamish Systems. “Infosys has enabled us to both increase investment and accelerate development of a platform that was already quite formidable before the acquisition. We are leveraging our combined strengths to deliver higher value to our clients and offer best-in-class solutions to the market. We also believe our growth in the insurance and financial services space, coupled with testimonials such as this, reiterates our commitment towards being a strong player with a unique value proposition and a premier provider of end-to-end, enterprise-wide solutions in this space."
Gartner’s MarketScope provides a comparative evaluation of life insurance and annuity systems based on four major criteria: market understanding, offering/product strategy, product and services, and overall viability.
VPAS® Life is a proven, highly scalable policy administration platform offered in SaaS, BPO, BPO Hybrid, and License modes. Over 20 of the leading insurers in the US use VPAS® Life as a solution, and with client implementations in progress in APAC and Canada, VPAS® Life’s global reach continues to expand. Once these implementations are complete, over 40 million policies worldwide will be administered by VPAS® Life.
1 Gartner, Inc. ‘MarketScope for North American Life Insurance Policy Administration Vendors by Steven Leigh, 21 June 2012
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose
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, Poland, Mexico, Brazil, USA, China, the Philippines and Australia, and as on June 30, 2012, employed 23,288 people. It closed FY 2011-12 with revenues of US$ 494.5 million.
Many of the world’s most successful organizations rely on the 151,000 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, 2012 and on Form 6-K for the quarters ended September 30, 2011, December 31, 2011 and June 30, 2012.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.