Infosys Ltd. announced the signing of a five-year agreement with Lansforsakringar AB (LFAB) to provide application development and management support for its life and non-life insurance business .

The new agreement with Infosys will see LFAB, owned by Lansforsakringar Alliance, a mutual organization of 23 regional insurance companies with a strong local brand, improve the quality of service and time to market for its alliance members at a reduced cost.

Under the agreement terms, Infosys will be responsible for the development and management of more than 200 applications across LFAB’s line of business. To support this engagement, Infosys will provide support from global facilities as well as its local offices in Stockholm, Ostersund and Linkoping.

Besides, Infosys and LFAB will work together to improve the systems and processes so that member companies enjoy a more consistent approach to claims and policy administration.

LFAB Chief Operating Officer Soren Westin said, “Infosys demonstrates strong insurance industry expertise as well as a track record in application development and management. Their commitment to significantly strengthen their local footprint reflects our belief in the importance of local customer service.” 

Infosys President-Member of the Board and Head of Europe B.G. Srinivas commented, “Our partnership with Lansforsakringar AB will allow the company to transform and optimize their systems and processes and benefit from improved operational performance. Our talented team based in Sweden will play a central role in delivering world-class services to LFAB using an optimal combination of near shore and global delivery capabilities.”

At the BSE, Infosys closed Tuesday’s trading at Rs.3,349.25, down 1.19 percent from the previous close.

source: http:://www.rttnews.com / RTT News / Home> Business> Indian News / by  RTT Staff Writer / March 18th, 2014