Infosys McCamish partners with Pan-American Life Insurance Group, to provide policy administration services

As part of the partnership, Infosys McCamish will provide policy administration services for PALIG's new global assets Indexed Universal Life (IUL) product,

Press Trust of India June 28, 2019 09:18:14 IST
Infosys McCamish partners with Pan-American Life Insurance Group, to provide policy administration services
  • The product gives insureds the flexibility of choosing a fixed return account or one whose returns are determined by a major trading index

  • The VPAS platform of Infosys McCamish supports 35 production customers in North America

  • It provides support for life and annuity products, including individual and group, variable, fixed, indexed and repetitive payment products

New Delhi: Infosys McCamish, a US-based subsidiary of Infosys BPM, on Thursday announced its partnership with Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance.

Infosys McCamish is developer of solutions and services in the insurance and financial services industry, while Infosys BPM is the business process management subsidiary of Infosys Ltd.

As part of the partnership, Infosys McCamish will provide policy administration services for PALIG's new global assets Indexed Universal Life (IUL) product, Infosys said in a release.

The new product gives insureds the flexibility of choosing a fixed return account or one whose returns are determined by the performance of a major trading index such as the S&P 500 (SPX), EURO STOXX 50 (SX5E) and Hang Seng Index (HSI).

This is the first time that PALIG is offering an IUL product as part of its diverse life insurance portfolio. The product will be available to high net worth international clients.

Infosys McCamish partners with PanAmerican Life Insurance Group to provide policy administration services

Representational image.

The VPAS platform of Infosys McCamish supports 35 production customers in North America and provides support for life and annuity products, including individual and group, variable, fixed, indexed and repetitive payment products, as well as health and welfare products.

"We have established an international service center to support one of the leading insurance companies throughout the Americas. The solution leverages VPAS®, our state-of-the-art digital and integrated multi-language life and annuity platform, for quick product rollouts and superior service to the international market," said Richard Magner, CEO and Managing Director of Infosys McCamish Systems.

Bruce Parker, President of Pan-American Life Insurance Group Global Life Division, said, "They (Infosys McCamish) are highly recognized in the insurance industry for the quality of their technology solutions and their expertise is invaluable for us to be able to launch and support the new IUL product."

Updated Date:

also read

Market update: Sensex, Nifty begin volatile trading session; check details here
Business

Market update: Sensex, Nifty begin volatile trading session; check details here

After initial losses, BSE Sensex rose by 0.41 percent or 233.25 points to 57,340.40, while NSE Nifty 50 opened at 17,055.80 and rose by 0.08 percent, gaining 12.90 points to 17,039.35

Star Health IPO opens tomorrow: All you need to about price band, fresh issue and other details
Business

Star Health IPO opens tomorrow: All you need to about price band, fresh issue and other details

With this IPO, Star Health is aiming to raise Rs 7,249.18 crore. The IPO consists of fresh issue of equity shares worth Rs 2,000 crore and an offer-for-sale (OFS) of up to 58,324,225 equity shares by promoters and shareholders

Star Health IPO opens for subscription today; check details here
India

Star Health IPO opens for subscription today; check details here

Through its maiden issue, Star Health and Alliance Insurance Company plans to raise Rs 7,247 crore