Infosys McCamish Partners With Pan-American Life Insurance Group
Deploys Digital Policy Administration Platform and BPO Operations
NEW ORLEANS, June 27, 2019 /PRNewswire/ -- Infosys McCamish, a US based subsidiary of Infosys BPM and a leading developer of solutions and services in the insurance and financial services industry today announced its partnership with Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance. As part of the partnership, Infosys McCamish will provide policy administration services for PALIG's new Global Assets Indexed Universal Life (IUL) product.
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.
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.
Richard Magner, CEO and Managing Director of Infosys McCamish Systems, said, "Infosys McCamish is delighted to partner with Pan-American Life Insurance Group in launching an Indexed Universal Life product to serve Pan-American's international market. 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."
Bruce Parker, President of Pan-American Life Insurance Group Global Life Division, said, "We are thrilled to have Infosys McCamish as our partner in the administration of the new Global Assets Indexed Universal Life product. They 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."
About Pan-American Life Insurance Group
Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance throughout the Americas that has been delivering trusted financial services since 1911. The New Orleans-based Group is comprised of more than twenty member companies, employs more than 1,950 worldwide and offers top-rated individual and/or group life, accident and health insurance, employee benefits and financial services in 49 states, the District of Columbia (DC), Puerto Rico, the U.S. Virgin Islands, and throughout Latin America and the Caribbean. The Group has branches and affiliates in Costa Rica, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, and 13 Caribbean markets, including Barbados, Cayman Islands, Curacao and Trinidad and Tobago. Global Assets Indexed Universal Life product is offered by Pan-American International Insurance Corporation and Pan-American Assurance Company International, Inc. and is not available to U.S. Residents at this time.
For more information, visit the Pan-American Life website at palig.com, like us on Facebook @PanAmericanLife, follow us on Twitter @PanAmericanLife, and connect with us on LinkedIn at Pan-American Life Insurance Group.
About Infosys McCamish
Infosys McCamish (www.infosysmccamish.com), a U.S. based subsidiary of Infosys BPM, a part of Infosys (NYSE: INFY), is a leader in providing best in class technology platforms and service solutions for the financial services industry. With deep domain experience with Life Insurance companies, Work Site Product providers and Retirement companies globally, we partner with our clients to help them stay ahead of the innovation curve. Our technology platforms and services, combined with execution excellence and proven best practices, optimize our clients' operations today while building tomorrow's enterprise.
About Infosys BPM
Infosys BPM Ltd., the business process management (BPM) subsidiary of Infosys Ltd. (NYSE: INFY), was established in April 2002. We offer integrated end-to-end transformative BPM services, and have journeyed through the table-stakes of effectiveness and efficiency with an ever-increasing focus on enhancing stakeholder experience and empathy. We enable clients to navigate their digital journey, operating from 32 delivery centers across 16 countries. We employ 38,510 people from over 100 nationalities, as of March 31, 2019.
Visit https://www.infosysbpm.com/ for more information.
About Infosys
Infosys is a global leader in next-generation digital services and consulting. We enable clients in 45 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.
Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.
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Certain statements mentioned in this presentation concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2019. These filings are available at www.sec.gov Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
SOURCE Infosys McCamish
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