Infosys signs 5-year contract with US insurer Conseco

Mumbai: Infosys Technologies Ltd has signed a five-year contract with US insurance firm Conseco Inc to develop new business application software and provide maintenance services to its key business applications.

Financial details of the deal were not disclosed.

Infosys will support the business application needs of Conseco, a leading provider of insurance products for the life, health and retirement needs of middle-market and senior Americans, Infosys said in a filing with the Bombay Stock Exchange.

"After carefully examining our options, Conseco selected Infosys for this strategic outsourcing initiative because we are confident that Infosys understands the rapidly shifting dynamics in the insurance market, and brings to bear deep technical skills in an innovative service model," said Russ Bostick, Conseco's executive vice president and chief information officer.

"By partnering with Infosys, we'll be able to jointly focus on developing and implementing differentiating business solutions that will help Conseco continue to drive future growth," he added.

Under the terms of the partnership, Infosys will be supporting several mission-critical IT systems that power Conseco's business - including new business, policy administration, claims, audit management, marketing, and agent compensation.

Conseco already has an association with Infosys. ''We've already benefited by emulating Infosys practices in improving our Conseco India Data Services subsidiary, which provides similar services for other mission-critical Conseco systems,"  Bostick said.

Infosys on Tuesday reported a near-10 per cent rise in profit. The IT major, however, warned about near-term problems arising from the global market uncertainty.