Information Tech

Infosys McCamish buys underwriting platform from US’ STEP Solutions

Bengaluru: Infosys McCamish Systems, a US-based subsidiary of Infosys BPM, has bought a state-of-the-art new business and underwriting platform from STEP Solutions Group LLC to ease the complexity of all types of insurance products such as Life, Annuity, and Health, for individuals and groups across North America.

The powerful, rule-driven new business and automated underwriting platform from STEP would help Infosys McCamish in enhancing its industry-leading VPAS policy administration platform to offer end-to-end business solutions in the North American insurance market, said the company.

The platform quotes and recommends products based on the customer’s lifestyle, financial state, and unique requirements, using digital portals and intuitive workbenches that drive business outcomes through a personalised experience.

The platform would be supported from development centres in Atlanta, US, and from Hyderabad and Pune in India.

STEP Solutions Group LLC, an affiliate of the Dillon Kane Group LLC based in Chicago, Illinois, has a successful track record in building leading-edge technology solutions in insurance underwriting and new business.

“With the purchase of this platform from STEP, we will further enhance our competitive position in straight-through processing of new business, enrollment, and automated underwriting to our clients,” Richard Magner, chief executive officer and managing director, Infosys McCamish, was quoted saying. “The move reinforces our commitment and investments towards providing seam less and end-to-end delivery of services across the insurance industry in North America and around the world.”

Don Kane, senior managing director of Dillon Kane Group and STEP Solutions Group, said, the platform would help in increasing the success rate for clients, with high efficiency and enhanced underwriting decision-making in the new business arena. “With Infosys McCamish’s leading position in the global life insurance and annuity marketplace, I am sure they will elevate the platform’s global reach, technology edge, and digital capabilities,” he added.

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