Bangalore, India, April 17, 2008
Infosys (NASDAQ: INFY) today announced that Conseco, Inc. (NYSE: CNO) has selected Infosys for a five-year contract to provide development and maintenance services to its key business applications. Conseco, a leading insurance provider focused on offering financial security for the life, health and retirement needs of middle-market and senior Americans, is partnering with Infosys to jointly support its extensive business applications. Conseco will be able to leverage Infosys' capabilities and best practices in applications management to gain operational efficiencies and enhance business value.
"After carefully examining our options, Conseco selected Infosys for this strategic outsourcing initiative because we are confident that Infosys understands the rapidly shifting dynamics in the insurance market, and brings to bear deep technical skills in an innovative service model," said Russ Bostick, Conseco's executive vice president and Chief Information Officer. "By partnering with Infosys, we'll be able to jointly focus on developing and implementing differentiating business solutions that will help Conseco continue to drive future growth."
Under the terms of the partnership, Infosys will be supporting several mission-critical IT systems that power Conseco's business - including new business, policy administration, claims, audit management, marketing, and agent compensation. By centralizing the support, maintenance and development of these applications with Infosys, Conseco will be able to better navigate business cycles and scale its applications and IT capabilities to meet business demands.
"Infosys is a company with broad capabilities and a cost-efficient and innovative service delivery model," Bostick said. "We view Infosys as a strong partner for complex work, and we entered into the outsourcing relationship knowing we would like their advice and implementation assistance with other applications initiatives. We've already benefited by emulating Infosys practices in improving our Conseco India Data Services subsidiary, which provides similar services for other mission-critical Conseco systems."
Eric Paternoster, senior vice president, Insurance, Healthcare and Life Sciences, Infosys, said the partnership will support Conseco's business growth and operational excellence goals.
"Conseco is one of the central providers in the middle-market insurance industry today," Paternoster said. "Understanding that customers want enhanced services at a competitive cost-point has been key to Conseco's success to date and Infosys is focused on helping Conseco continue to deliver on that promise."
Conseco, Inc.'s insurance companies help protect working American families and seniors from financial adversity: Medicare supplement, long-term care, cancer, heart/stroke and accident policies protect people against major unplanned expenses; annuities and life insurance products help people plan for their financial futures. For more information, visit Conseco's web site at www.conseco.com.
Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a Flat World. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 91,000 employees in over 40 offices worldwide. Infosys is part of the NASDAQ-100 Index. For more information, www.infosys.com.
Statements in connection with this release may include forward-looking statements within the meaning of US Securities laws intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks and uncertainties including those described in our SEC filings available at www.sec.gov including our Annual Report on Form 20-F for the year ended March 31 2007 and our other recent filings, and actual results may differ materially from those projected by forward-looking statements. We may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.
For further information, please contact: PR_Global@infosys.com