(Climber on Mt. Hood, near Portland, Ore., home of M Financial. Credit: jtryba, SummitPost.)
M Financial Group, a Portland, Ore.-based distributor of insurance and wealth management products to affluent individuals, has extended its BPO contract with Infosys McCamish Systems LLC (Atlanta), an Infosys BPO company, until 2025. During the last 15 years Infosys McCamish has been managing the customer care center, policy administration, and claims processing activities for Magnastar, one of M Financial’s signature proprietary life insurance products. Magnastar is a multi-carrier, private placement, variable universal life insurance product available exclusively to M Member Firms.
“We are excited to extend our relationship with Infosys McCamish,” comments Daniel F. Byrne, senior VP and Chief Product and Technology Officer, M Financial. “Their service and administration support has contributed significantly to the success of Magnastar, a key component of our strategy to deliver product and service differentiation to our Member Firms.”
This contract extension is the third since the relationship between M Financial Group and Infosys McCamish began in 2000. The agreement is anchored with M Financial, but includes six separate contracts with each of the M Financial partner carriers that participates in the Magnastar program.
Unique Service Environment
The solution provides what Infosys McCamish characterizes as a unique service environment that allows M Financial to partition the coverage of a single sale, if necessary, across multiple partner carriers to diversify risk and broaden investment opportunities. While Infosys McCamish administers such split sales in accordance with their separate legal statuses, it can report them to M Financial, the Member Firm and the Member Firm’s clients as if such sales were a single transaction, thereby greatly simplifying all policy-holder reporting, according to the vendor.
One of Infosys McCamish’s strategic objectives is to create enduring partnerships, according to Gordon Beckham, the company’s President and CEO. “This is possible only with innovative solutions, quick product rollouts, talented resources, and consistent and reliable execution,” he comments. “Fifteen years ago, we became partners of one of the most respected and powerful producer groups in the United States and we are delighted to extend it by ten years. This partnership demonstrates our dedication to delivering quality service and enhancing our clients’ brands. We look forward to serving M Financial, both now and in the decade to come.”
“We look forward to continuing to build our relationship with Infosys McCamish, to the growth of the Magnastar offering, and to new opportunities that lie ahead,” adds M Financial’s Byrne.