Des Moines, Iowa – September 10, 2012
McCamish Systems LLC, an Infosys BPO company, specializing in end-to-end, enterprise-wide insurance and retirement business process solutions, has increased its presence in the Voluntary Group Life Insurance business space by commencing operations in Des Moines, Iowa, USA with 87 employees, serving 7 insurers and covering more than 600,000 insured lives. This has further enhanced Infosys BPO's positioning as a premier provider of end-to-end, enterprise-wide solutions for the insurance and financial services sector.
Swaminathan D., CEO and MD, Infosys BPO said, "With this addition to the footprint of Infosys BPO operations, our capabilities and domain expertise in Group Life Administration have been significantly enhanced, potentially yielding magnified gains for clients. Our in-depth knowledge of the insurance and financial services sector in McCamish Systems, with clients serviced on our Variable Product Administration Systems (VPAS®) Life policy administration platform will now be further enhanced through the addition of domain experts, fulfilling the need of clients to have a service provider having end-to-end capabilities, offering policy administration services for their group life plans."
"The addition of this capability complements Infosys BPO’s strong existing functional domain knowledge and Global Delivery Model capabilities. We have proven solutions and capabilities, further advancing our comprehensive, platform based solutions for insurance carriers, and expanding our service offerings to Group Insurance providers as well. We look forward to servicing these clients and growing this important line of business", said Gordon Beckham, President and CEO, McCamish Systems.
McCamish Systems, located in Atlanta, Georgia, is the Life Insurance and Retirement Services subsidiary of Infosys BPO Ltd. (www.infosysbpo.com), the Business Process Outsourcing subsidiary of Infosys Limited, which 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, the Czech Republic, Poland, Mexico, Brazil, USA, China, the Philippines and Australia, and as on June 30, 2012, employed 23,288 people. It closed FY 2011-12 with revenues of US$ 494.5 million.
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Certain statements in this release concerning our future growth prospects are forward-looking statements, 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, 2012 and on Form 6-K for the quarters ended September 30, 2011, December 31, 2011 and June 30, 2012. 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.
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