New York Life International partners Infosys on expansion project

BANGALORE: New York Life International Inc, the overseas arm of New York Life

Insurance Company, and Infosys Technologies Ltd. have announced the first phase

of their worldwide expansion project, which began with India last month. New

York Life International is expanding its business to countries throughout Asia

and Latin America, which requires the development of robust life insurance

business systems for each country. Infosys has been selected to design, develop,

implement and deploy this solution.

Using AMARTA, a business process environment and software framework designed

specifically for the insurance industry by Sherwood International, Infosys is

creating systems meeting the needs of each market where New York Life

International has a presence.

The systems for the first of these markets, India, went live in April, providing

Max New York Life, the company’s Indian joint venture, with the necessary

software applications to conduct business. As part of the first phase of this

project, similar system implementations will be carried out in Asia this year.

Subsequent phases will target countries in Latin America.

"New York Life has set aggressive targets for expansion into new

markets," stated, New York Life International chief operating officer,

Cynthia Valko. "In Infosys, we are pleased to have found the right partner

for this challenge. They have brought a level of creativity, flexibility and

maturity to this initiative that has enabled the project to progress more

easily," Valko added.



"We have seen benefits of using Infosys services since the beginning. From
the very start, Infosys applied the skills required to get this project on track

and keep it there," commented New York Life International chief information

officer, Mervyn Wallis. "As a result, they quickly provided the project

management skills to deliver within set deadlines. New York Life International

is looking forward to building a long relationship with Infosys."

"Infosys recognizes that it is difficult for large corporations moving into

emerging markets to balance product and infrastructure investment against

return," stated Infosys board member and head of worldwide sales and

marketing, Phaneesh Murthy. "Infosys has developed an innovative framework

to develop products and launch operations for each country at more affordable



costs."

"Going into this project, we had to look at balancing the objectives of

each new market for New York Life International, while also trying to optimize

cost by effectively leveraging the advantages of reuse and repeatability,"

commented Infosys vice president of delivery systems, Mohan Sekhar. "With

this in mind, we have designed a core product which addresses most of New York

Life International’s global requirements and also enables the roll-outs into

individual markets with minimal customization, thereby reducing the time to

market significantly."