Date:09/06/2005 URL: http://www.thehindubusinessline.com/2005/06/09/stories/2005060901970500.htm

Back Patni BPO services suite for insurers

Our Bureau

Mumbai , June 8

PATNI Computer Systems Ltd has announced the launch a BPO Services suite specifically designed for insurance companies.

The "Defined Contribution BPO service suite" will allow insurance companies to offload common record keeping tasks associated with the administration of defined contribution plans, said a notice to the stock exchanges issued by Patni Computer Systems.

Administrators can reduce overall programme costs and improve the quality of service. Patni's Defined Contribution BPO Service transfers time-intensive back-end record-keeping tasks to the company's offshore delivery centres, reducing administrative costs and allowing insurance companies to focus on their core offerings.

"To compete with the traditional financial services players in the 401(k) administration arena, insurance carriers must manage costs more effectively, improve their processes, and increase their technology expertise," the notice said, quoting Mr Bill Budde, Senior Vice-President and Head of Insurance Business Unit of the company.