For the last 15 years, Infosys McCamish has been managing the customer care center, policy administration, and claims processing activities for Magnastar®, one of M Financial’s signature proprietary life insurance products. Magnastar® is a multi-carrier, private placement, variable universal life insurance product available exclusively to M Member Firms.
• This contract extension is the third since the inception of the relationship between M Financial Group and Infosys McCamish in 2000
• It underscores the success of the M Financial-Infosys McCamish partnership
• The relationship is anchored with M Financial, but includes six separate contracts with each of the M Financial partner carriers that participate in the Magnastar® program
• The solution provides a unique service environment that allows M Financial to partition the coverage of a single sale, if necessary, across multiple partner carriers to diversify risk and broaden investment opportunities. While Infosys McCamish administers such split sales in accordance with their separate legal statuses, it can report them to M Financial, the Member Firm and the Member Firm’s clients as if such sales were a single transaction, thereby greatly simplifying all policy-holder reporting
Gordon Beckham, President and CEO, Infosys McCamish Systems
“One of our strategic objectives at Infosys McCamish is to create enduring partnerships. This is possible only with innovative solutions, quick product rollouts, talented resources, and consistent and reliable execution. Fifteen years ago, we became partners of one of the most respected and powerful producer groups in the United States and we are delighted to extend it by ten years. This partnership demonstrates our dedication to delivering quality service and enhancing our clients’ brands. We look forward to serving M Financial, both now and in the decade to come.”
Daniel F. Byrne, M Financial’s Senior Vice President and Chief Product and Technology Officer
“We are excited to extend our relationship with Infosys McCamish. Their service and administration support has contributed significantly to the success of Magnastar®, a key component of our strategy to deliver product and service differentiation to our Member Firms. We look forward to continuing to build our relationship with Infosys McCamish, to the growth of the Magnastar® offering, and to new opportunities that lie ahead.”
About M Financial
With more than 140 Member Firms in 37 states, the United Kingdom, and the United Arab Emirates, M Financial Group (mfin.com) is one of the nation's leading financial services design and distribution companies. Since 1978, M Financial's network of independent insurance, investment, and executive benefit firms has served the needs of ultra-affluent individuals, corporate executives, successful entrepreneurs, and Fortune 1000 companies.
About Infosys McCamish
Infosys McCamish (infosysmccamish.com), a U.S. based subsidiary of Infosys Edgeverve, 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 BPO
Infosys BPO (infosysbpo.com), the business process outsourcing subsidiary of Infosys, was set up in April 2002. Infosys BPO focuses on integrated end-to-end outsourcing and delivers transformational benefits to its clients through reduced costs, ongoing productivity improvements, and process reengineering. Infosys BPO operates in India, Poland, the Czech Republic, the Netherlands, Ireland, South Africa, Brazil, Mexico, Costa Rica, the United States, Puerto Rico, China, the Philippines, Singapore, and Australia, and as of December 31, 2015, employed 33,208 people.
About Infosys Ltd
Infosys (infosys.com) is a global leader in consulting, technology, outsourcing and next-generation services. We enable clients, in more than 50 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Infosys, with US$ 9.2 billion in LTM revenues and 193,000+ employees, is helping enterprises renew themselves while also creating new avenues to generate value.
Certain statements in this press release 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. These 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, 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, 2015. These filings are available at 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. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. 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.
Contact: Sarah Gideon - Infosys, India
P: +91 80 41563998 - E: Sarah_Gideon[.]infosys.com.