Infosys McCamish Methods, a US-based subsidiary of Infosys BPM, has purchased the enterprise and underwriting platform from STEP Options Group. STEP Options Group LLC is an affiliate of the Dillon Kane Group LLC primarily based in Chicago. The monetary particulars of the transaction haven’t been disclosed.
“The highly effective rule-driven new enterprise and automatic underwriting platform from STEP will assist Infosys McCamish in enhancing its industry-leading VPAS coverage administration platform to supply finish to-end enterprise options within the North American insurance coverage market,” Infosys stated in a regulatory submitting to the inventory exchanges.
“With the acquisition of this platform from STEP, we are going to additional improve our aggressive place in straight-through processing of latest enterprise, enrollment, and automatic underwriting to our purchasers,” Richard Magner, Chief Govt Officer and Managing Director of Infosys McCamish Methods stated.
The platform will likely be supported from growth centres in Atlanta, United States from Hyderabad and Pune in India.
At 10:10 am, the shares of Infosys had edged decrease by 0.4 per cent to Rs 1,283.90 in keeping with Sensex’s losses of 0.5 per cent,