Infosys signs app development deal with Sweden's Lansforsakringar

The country's second largest software services firm, Infosys, on Tuesday said it has signed a five-year deal with Swedish firm Lansforsakringar AB (LFAB) to provide application development and management support for its life and non-life insurance business.

Lansforsakringar AB is owned by Lansforsakringar Alliance, a consortium of 23 regional insurance companies.

The agreement with Infosys will help improve the quality of service and time to market for Lansforsakringar Alliance members at a reduced cost, Infosys said in a statement.

Financial details of the deal were not disclosed. Infosys will be responsible for the development and management of more than 200 applications across LFAB's lines of business.

"Infosys demonstrates strong insurance industry expertise as well as a track record in application development and management. Their commitment to significantly strengthen their local footprint reflects our belief in the importance of local customer service," Lansforsakringar AB COO Soren Westin said.

To support this engagement, Infosys will provide support from global facilities as well as its local offices in Stockholm, Ostersund and Linkoping.

Infosys and LFAB will also work together to improve the systems and processes so that member companies enjoy a more consistent approach to claims and policy administration.

"The partnership will allow the company to transform and optimise their systems and processes and benefit from improved operational performance," Infosys President, Member of the Board and Head of Europe BG Srinivas said.

Infosys earlier this week announced it had won a multi-year contract from Volvo Cars to provide application development services for its global operations.

Under the new agreement, Infosys will develop applications to support multiple domains, including marketing and sales, customer service, manufacturing, product development, and corporate functions, the IT major said in a statement on Monday. No financial details of the deal were disclosed.