Infosys BPM subsidiary buys new automated business & underwriting platform from STEP Solutions

Infosys announced that Infosys McCamish, the US-based subsidiary in Infosys BPM has purchased state-of-the-art new business & underwriting platform from STEP Solutions Group LLC in order to ease the complicated processes of insurance products such as life, annuity, and health, for individuals & groups across North America. The announcement was made on Tuesday after the market hours.  

STEP Solutions, which is an affiliate of Dillon Kane Group (DKG) LLC based in Chicago (Illinois) has a successful record in creating leading-edge technology solutions in insurance underwriting and new business. The platform purchased from STEP Solutions will help Infosys in augmenting industry-leading VPAS® policy administration platform to serve end-to-end business solutions in North American insurance market.  

The platform is capable of recommending and quoting products based on the financial state, customer lifestyle and unique requirements, making use of digital portals and intuitive workbenches, which drive the outcome of business through a personalised experience. The platform also helps to reduce cost & time-to-decision and accelerates the process of policy issuance as well as assures consistent rating. The platform is well-equipped with ACORD Industry standards, external origination systems, data, and evidence providers. Once its use is commenced, it helps to shorten the time of processing a case, from days to hours.  

Infosys Ltd is a well-known company engaged in consulting, technology, outsourcing & next-generation services and provides business information technology services. Meanwhile, Infosys McCamish is a US-based subsidiary of Infosys BPM, which provides the best quality technology platforms & services to the financial services industry.  

Despite the news, on Wednesday, the share of Infosys opened 0.67 per cent down at Rs 1,281.75 on BSE.