IBM today announced that Birla Sun Life Insurance (BSLI), the life insurance arm of the Aditya Birla Financial Services Group, signed a nine year IT outsourcing deal with IBM to consolidate, redesign in-scope applications and use analytics to provide client insights that build competitive advantage.
BSLI will leverage mobility and cloud solutions developed by IBM Research and the IBM India Software Lab to achieve increased revenues, reduce costs and enhanced profitability.
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. Tailor-made solutions from IBM will bring process maturity best practices, IT portfolio consolidation and introduce innovative tools.
According to a press statement issued by IBM, “This deal can help BSLI realise a cost reduction advantage from consolidation of IT vendors.”
“IBM’s flexible pricing model will enable dynamic ramp up/down and consumption based operational spending along with a roadmap to modernise, consolidate and rationalise the application portfolio, bringing in speed and reduced time to market,” the statement said.
Mayank Bathwal, Deputy CEO, Birla Sun Life Insurance said, “We at Birla Sun Life Insurance are committed to offering an enhanced experience to our customers while improving on efficiencies and profitability of the business. 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.”
“We will bring our local and global expertise and capabilities to fuel BSLI’ expansion and growth in this dynamic Insurance industry in India,” said Vanitha Narayanan, Managing Director, IBM India.