iGate signs 5-yr IT contract with Group Länsförsäkringar in Sweden

iGate Corporation, the Nasdaq listed IT services and solutions firm, announced today that it has secured a five-year contract with Länsförsäkringar Alliance. The deal, valued at $35 million, will be enacted over an initial five-year engagement and will be delivered within Länsförsäkringar Alliance.

Länsförsäkringar Alliance is one of Sweden’s largest financial services institutions with business divisions covering life, non-life and banking markets.

iGate has been selected by the company as a strategic application development and maintenance supplier for its business support system, which includes business intelligence systems, integration, compliance, document support, finance and payment systems. iGate will also provide IT services over life and non-life insurance business units.

As part of the engagement, iGate will open a delivery centre in Stockholm. This centre will be committed not only to local hiring but also to building iGate’s nearshore delivery capabilities for the European region.

Derek Kemp, Executive Vice-President and Head of Europe and Australia, iGate, said: “This engagement will deliver significant savings to Länsförsäkringar Alliance in Sweden and will offer much greater product and customer management flexibility in its life and non-life businesses. The deal with Länsförsäkringar Alliance will increase our presence in the Nordics through the creation of a new delivery centre. We are extremely pleased with the technical and language-based skills available locally and know this expertise will enable us to build scale and capability in the region.”