Hewlett Packard Enterprise has signed a definitive agreement for to sell its equity stake in IT services provider Mphasis Limited to private equity funds managed by The Blackstone Group.
The Chainsure and WealthChain solutions are designed to help insurers and financial services firms combine blockchain technology with enterprise capabilities to impact multiple areas of their value chains.
Mphasis describes ComPASS as wrapped around a highly configurable PAS platform and the vendor’s cost-efficient business process services with digital enablement technologies and interactive portals.
The multimillion-euro contract will cover an 18-month policy administration replacement initiative starting with the CNP Assurances’ subsidiary’s group insurance products, followed by loan insurance lines.
The diversified financial services company selected Mphasis for BPO related to lender-placed insurance business, based on industry reputation and direct experience of the vendor’s performance.
Wynsure will initially be implemented for group, worksite and individual products, including life and disability income in the Caribbean market.
Ganesh Ayyar, CEO, Mphasis.
Dinesh Venugopal, president, Mphasis Digital,
The cloud-based solution offers a complete turnkey solution that includes application hosting and management, consulting and configuration services in addition to 24×7 help desk support.