Mastek to provide insurance services with Genpact
By siliconindia   |   Tuesday, 25 May 2010, 21:05 IST   |    2 Comments
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Mastek to provide insurance services with Genpact
Mumbai: MajescoMastek, subsidiary of software service firm Mastek, has entered into a partnership with BPO firm Genpact to focus on the insurance industry, which will help insurance carriers' operations, leveraging both business process management and technology solutions, said the company in a filing to the Bombay Stock Exchange. As well the firm is also set to increase salary for junior to middle level employees. Pay hikes of about 20 percent on an average for offshore employees and 3.5 percent for employees working onsite will be implemented from July 1, said the company in a statement. "Together, we can move to provide solutions that solve entire business problems while giving carriers cost certainty with business models that let us share in the risk with our clients -- something they have been asking vendors to do for some time now," said, Mike Dufton, MajescoMastek President, North America. The companies will offer joint information technology and business process management solutions to large and mid-sized insurance carriers. By joining forces, MajescoMastek and Genpact will be able to manage intense cost pressure and will leverage process efficiencies and innovative technology in a cost-effective and cost-certain model, the filing added. "Our partnership with MajescoMastek has been met with enthusiasm from our mutual customers and we believe it will be a true differentiator in the insurance marketplace," said Mohit Thukral, Senior Vice President and Business Leader, Genpact.

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