IBM gets 9-year IT outsourcing deal from Birla Sun Life Insurance

IBM has bagged a nine-year IT outsourcing deal from Birla Sun Life Insurance -- the life insurance arm of the Aditya Birla Financial Services Group. Under the deal, IBM will consolidate, redesign in-scope applications and use analytics to provide client insights that build competitive advantage.Birla Sun Life Insurance will leverage mobility and cloud solutions developed by IBM Research and the IBM India Software Lab to achieve increased revenues and reduce costs.[caption id="attachment_1995403" align="alignleft" width="380"] AFP[/caption]"BSLI in this partnership with IBM will adopt a first-of-a-kind technology solution to the insurance sector that will radically transform the business technology model," the company said.The insurance company will leverage IBM's business consulting, application development and maintenance services to drive process efficiencies and transform the business towards better outcomes for customers and employees. Tailor-made solutions from IBM will bring process maturity best practices, IT portfolio consolidation and introduce tools.IBM’s flexible pricing model will enable dynamic ramp up/down and consumption based operational spending along with a roadmap to modernise, consolidate and rationalise the application portfolio, bringing in speed and reduced time to market, IBM said.Mayank Bathwal, Dy. CEO, Birla Sun Life Insurance, said, "We believe that this winning partnership with IBM will help us excel and stay ahead of the curve in this fast evolving life insurance industry, while addressing all business needs. IBM’s vast experience and technology capabilities will add tremendous value to our business."