IBM secures 9-year IT outsourcing deal from Birla Sun Life

Tech giant IBM today said it has signed a 9-year IT outsourcing deal with Birla Sun Life Insurance (BSLI).
Financial details of the deal were not disclosed.
The contract involves IBM consolidating, redesigning in-scope applications and use analytics to provide client insights that build competitive advantage.
BSLI will leverage mobility and cloud solutions developed by IBM Research and IBM India Software Lab to increase revenues, reduce costs and enhance profitability.
"It is a nine-year strategic partnership through which IBM will also provide application development and management. It will offer enhanced experience to our customers while improving on efficiencies and profitability of the business," BSLI Deputy CEO Mayank Bathwal told PTI.

This deal could help BSLI realise a cost reduction advantage from consolidation of IT vendors, he added.

"It will help BSLI leverage leading technology solutions like cloud and analytics to make critical strides in achieving business transformation, improving service delivery and increasing customer satisfaction," IBM India Managing Director Vanitha Narayanan said.
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, she added.
BSLI will leverage IBM's business consulting, application development and maintenance services to drive process efficiencies and transform business towards better outcomes for customers and employees, IBM India said.

BSLI is a joint venture between Aditya Birla Group and Sun Life Financial from Canada. It has a customer base of over two million policy holders and has a distribution reach in over 500 cities.
BSLI has total assets under management of Rs 26,813 crore and a capital base of over Rs 2,170 crore, as on June 30, 2014.