Birla Sun Life Insurance (BSLI), the insurance arm of the Aditya Birla Financial Services Group, has signed a major IT outsourcing deal with IBM.
BSLI will leverage IBM’s cloud, mobility and analytics capabilities to improve the insurance business in India.
The nine-year deal follows another deal IBM signed with an Indian financial service provider.
Under the agreement IBM will help BSLI consolidate, redesign in-scope applications and use analytics to provide client insights that build competitive advantage.
BSLI will leverage IBM’s business consulting, application development and maintenance services to drive process efficiencies and transform the business towards better outcomes for customers and employees, the company said.
BSLI expects to realize a cost reduction advantage from consolidation of IT vendors.
Commenting on this development, Mayank Bathwal, Dy. CEO, Birla Sun Life Insurance said, “We believe that this winning partnership with IBM will help us excel and stay ahead of the curve in this fast evolving life insurance industry, while addressing all business needs. IBM’s vast experience and technology capabilities will add tremendous value to our business.”
According to Vanitha Narayanan, MD, IBM India, the services will help BSLI achieve business transformation, improving service delivery and increasing customer satisfaction.