Insurance credit provider and Tech Mahindra come together to develop and maintain front and back office systems
United Kingdom – May 27, 2014 – Tech Mahindra Ltd. a specialist provider of connected solutions, today announced that Premium Credit Limited, the No.1 Insurance Premium Finance Company in the UK and Ireland, has selected it to deliver front and back office application services.
Tech Mahindra will provide operational support and maintenance services, as well as development and implementation. It was selected because of its domain expertise in the insurance and financial services, and a strong local footprint.
Gopi Chelliah, Chief Operating Officer at Premium Credit, said “Our partnership with Tech Mahindra is integral to the delivery of all aspects of our strategy. Our partnership gives us access to deep systems knowledge, professional resources and decades of financial systems expertise, enabling us to innovate with confidence.”
Vikram Nair, Head – Europe (Enterprise), Tech Mahindra, concluded: “We are bringing both development and support capabilities to bear on a complex environment. High volumes of transactions and mission critical, customized legacy systems typify financial technology in lending institutions. These must be effectively integrated with both a consumer front end and business management tools. It’s an environment to which we are excited to bring specialist professional expertise to bear. We are working together to develop Premium Credit’s financial infrastructure as a connected, flexible business platform that will continue to support the business’s growth.”
The BFSI (Banking, Financial Services and Insurance) practice area is one of the largest contributors to revenue at Tech Mahindra. Clients include one of the top 3 retail banks in the US, Canada, UK, Australia and India, 1 of the top 3 insurers in US, Europe, Australia, India and 8 of the top 10 in global asset and wealth management. Europe is home to some of Tech Mahindra’s largest clients and constitutes 32% of the company’s global revenues.