LTIMindtree Ltd. has won a contract from Aflac Inc. to digitally transform the services of United States' largest supplemental insurance provider.
As part of the deal, India's fifth largest information technology services firm by market cap will leverage the cloud-native services of Amazon Web Services to re-architect Aflac's on-premises applications, that are currently deployed on an out-of-support platform, according to an exchange filing on Thursday.
Moving to AWS will protect Aflac from security risks and positively impact its users, including the agent community, it said.
The financial details of the contract weren't disclosed.
Aflac, which pays cash to policyholders when they get sick or injured, is accelerating its digital transformation efforts for a nuanced and seamless user experience, said Polly Fabry, director of emerging technologies at the insurer, in a statement.
“Insurers today are seeking solutions that improve speed-to-market for new products, while also managing escalating cost of operations, regulatory compliance and security-related vulnerabilities,” said Sudhir Chaturvedi, president and executive board member at LTIMindtree, in the statement. The deal will help Aflac rise above operational challenges for greater visibility and efficiency, he said.
On Wednesday, shares of LTIMindtree fell 1.99% to Rs 5,092.65 apiece on the BSE, even as the benchmark Sensex ended the day 0.59% lower at 65,151.02 points.
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