Infosys
BPO insurance services include:
Quotations,
underwriting and associated compliance activities,
Financial administration
(e.g., premium accounting, A/R),
Claims adjudication,
processing and review,
Policyholder servicing
(amendments with and without, underwriting),
Agency management, Actuarial and analytics,
Documentation fulfillment.
In
September 2012, Infosys BPO acquired the captive
BPO unit of US-based insurance brokerage Marsh & McLennan Companies for an
undisclosed sum and would add about $10-12 million ( Rs
55-66 crore)
in incremental annual revenue for Infosys BPO, would involve taking over of
about 87 employees. The transaction would add at least seven group life
insurance clients for Infosys BPO.
McCamish
Systems LLC, an Infosys BPO company, specializing
in
end-to-end, enterprise-wide insurance and retirement business process
solutions, has increased its presence in the Voluntary Group Life Insurance
business space by commencing operations in Des Moines, Iowa, USA. The
unit
has 87 employees, serving seven insurers and covering more than 600,000 insured
lives.
Infosys
acquired
McCamish Systems in an all cash deal of $38 million in December 2009.
McCamish
Systems LLC
signed a multi-year
agreement with FaithLife Financial, a not-for-profit financial services
organization that provides life insurance, health insurance, income protection
and investment products in Canada.
Phoenix
Life Insurance (Hartford) has signed a multi-year agreement with McCamish Systems
for
selected blocks of its life insurance products, including conversion of data,
policy administration and customer support.
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