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Polaris ties up with AIG Global Services

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CIOL Bureau
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CHENNAI, INDIA: Polaris Software Lab Limited, a provider in specialty application development in the banking, financial and insurance sectors, today announced that it has signed a Professional Services Agreement (PSA) with AIG Global Services, Inc., a wholly owned subsidiary of American International Group, Inc.

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Under the terms of the PSA, Polaris will provide IT services to AIG and its member companies around the globe, said a press release.

In connection with this transaction, Polaris has sold its minority interest in AIG Systems Solutions Private Limited to a subsidiary of AIGGS.

Polaris played an important role in establishing AIGSS, sharing its physical and communication infrastructure, processes and methodologies which allowed AIGSS to begin to deliver mission critical applications and application management services soon after it was established, the release said.

"In 2002, AIG needed a global model to deliver world-class applications and we selected Polaris to assist because of our need to move rapidly. Polaris’ tested methodologies and processes as well as our ability to leverage their existing infrastructure allowed us to begin development activities almost immediately," said David Grubman, president, AIGSS.

According to S.R. Ramaswami, executive vice president and head, insurance solutions and application certification, Polaris Software Lab Ltd, "The co-creation outsourcing model which Polaris and AIG put together in 2002, is one of the most innovative, value accretive and secure models, well ahead of its time."

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