New York Life ties up with Infosys

India's largest IT consulting and software company, Infosys Technologies, won a significant contract from New York Life Insurance Company in the global expansion plans of its overseas arm, New York Life International.

The first phase of their association began in India last month. New York Life International is expanding its business to countries throughout Asia and Latin America, which requires development of robust life insurance business systems for each country.

Infosys has been selected to design, develop, implement and deploy this solution. Using AMARTA , a business process environment and software framework designed specifically for the insurance industry by Sherwood International, Infosys is creating systems meeting the needs of each market where New York Life International has a presence.

The system for the first of these markets, India, went live in April providing Max New York Life, company’s Indian joint venture, with necessary software applications to conduct business. As part of the first phase of this project, similar system implementations will be carried out in Asia this year. Subsequent phases will target countries in Latin America.

According to Cynthia Valko, chief operating officer, New York Life International, the insurance giant has been very pleased to work with Infosys. She said that Infosys had brought a level of creativity, flexibility and maturity to this initiative that has enabled the project to progress more easily. From the very start, Infosys applied the skills required to get this project on track and keep it there, as a result of which they quickly provided the project management skills to deliver within set deadlines.