iGATE Announces $35 Million, Five-year Managed Services Contract with Swedish Finance Company

By Laura Stotler

A new five-year managed services contract has been announced by iGATE Corporation with one of Sweden’s largest financial services companies. The MSP has announced a $35 million deal with Länsförsäkringar Alliance to provide strategic application development and maintenance for the company’s business support systems.

iGATE will also provide business intelligence systems, integration and compliance services as well as document support and support for finance and payment systems to the company. The MSP will also provide IT services over both life and non-life business units and will open a delivery center in Stockholm as part of the arrangement. That facility will hire local talent and also build out iGATE’s nearshore delivery capabilities in the region.

"iGATE has shown a deep understanding of the insurance industry,” said Sten Dunér, president of LänsförsäkringarAB. “We chose iGATE because of its differentiated delivery model and its committed presence in the Nordic region.”

"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,” added Derek Kemp, executive vice president and head of Europe and Australia, iGATE. “The deal with Länsförsäkringar Alliance will increase our presence in the Nordics through the creation of a new delivery center. 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."

iGATE has been focused on expansion and employs more than 30,000 people at its numerous global locations. The company has main offices in Pennsylvania, California and India, with locations in Canada and Mexico as well. The MSP has a presence in 13 countries in Europe and Africa and eight countries throughout Asia.

Edited by Cassandra Tucker

MSPToday Contributing Editor

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