IBM India awarded $450m outsourcing deal

Sep 03, 2008 (Datamonitor via COMTEX) -- IBM | Quote | Chart | News | PowerRating -- IBM India has won a 10-year $450m outsourcing services contract from India-based insurance provider Max New York Life, a joint venture between New York Life and Max India.

IBM will provide end-to-end back-end IT infrastructure, which it said will enable MNYL to provide life insurance policies with minimum documentation and to extend its reach in the semi-urban and rural areas.

Nipun Mehrotra, vice-president of global technology services at IBM India, said: "Life insurance is a growing market and the work we have done has the potential to change the sector. It is likely to change in similar lines to what happened in the telecom sector."

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