Zensar wins $7-m insurance biz

PUNE: Zensar Technologies, IT and business process outsourcing services provider, announced the win of a $7 million Insurance deal with a South African Insurance company.

Ganesh Natarajan, deputy chairman and managing director, Zensar, said, "We are delighted to take our business in the Insurance Vertical to its 10 Mn USD mark with the acquisition of a new Insurance account in South Africa. This win further consolidates our launch of this vertical, since it follows 3 million USD business from a US Mid West premium provider of Insurance products, and a million dollar initial contract for BPO services with a Latin America Insurance client."

This win from South Africa also increases offshore accounts from South Africa for Zensar, this being the largest. The deal as of now with current components is at 7 million USD and promises to grow significantly over the next three years, with a number of opportunities already in the pipeline. This win also reiterates the company's leadership in financial services in the emerging market of South Africa, with Zensar operating offshore development centres for three of the largest financial institutions of the country.

Vijay Saradhi has been named the Financial Services Vertical head at Zensar. On the occasion he said, "The Insurance vertical has been a focus area for Zensar's Financial Services Practice, with the huge market of around 39 per cent that the sector offers and we're glad it has been showing tremendous success in the recent years."