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| Patni Expands Actuarial BPO Service Offerings
Strengthens onshore capability to provide consulting, risk management and back office actuarial services through global delivery | |||
| 8 Dec 2009
, India, Mumbai
: Patni Computer Systems, Ltd. (NYSE: PTI, BSE: PATNI COMPUT, NSE: PATNI), a leading global IT and BPO services provider today announced expansion of its “Actuarial Centre of Excellence” (ACE™) to provide consulting, risk management and actuarial services for Insurance and Financial services companies in an onshore and offshore delivery model. ACE™ provides proven Actuarial expertise and a rich pool of seasoned actuarial consultants in the US, India and Europe to provide customers an optimized and cost-effective solution for improved financial performance. Patni runs one of the largest offshore actuarial operations in India and services several global insurance companies. ACE™ offers a wide range of services from consulting to loss monitoring, reserving, pricing, profitability analysis, experience analysis and statutory reporting. Retirement and Pensions actuarial services also include accounting and funding valuation, and plan conversion series. These services are available to clients in a third-party or shared services construct. Leveraging a global 24x7 delivery model, Patni is currently helping several companies reduce the cost per valuation, augment the actuarial and modeling capabilities, improve turnaround time, streamline valuation methodologies and deliver error-free valuations. Our services enable companies to reduce their operating costs by 40-50%. In addition, the Patni team has significant experience and capabilities in client implementation and the capability to quickly take on and implement new clients. Patni has also developed numerous solution accelerators that speed time-to-benefit. Sanjiv Kapur, SVP and Head of Patni’s Global BPO business said, “Insurance and Financial services companies increasingly need to focus on efficient and transparent risk management while controlling costs. As a trusted partner, we provide end-to-end outsourced actuarial and analytics services on a variable cost basis in an on-shore off-shore delivery model to augment clients’ in-house efforts and resourcing. Our services enable clients to significantly reduce operating costs while focusing on predictive modeling and other value-added analytics that are currently compromised. In our efforts to continuously expand our services portfolio to meet growing customer needs, we plan to extend actuarial services for other Industry segments as well.” Mike Fitzgerald, Senior Analyst in Celent's Insurance practice says, “Actuarial BPO will rise as North American firms expand activity in sophisticated pricing methodologies and the scarcity of actuarial talent in North America continues….This will not be a displacement of resources, but additions to capacity and extensions of insurers' teams.” As companies look for global actuarial workforce, Patni leverages its ACE™ charter members to augment onshore delivery capability. Corwin Zass, Founder of the Actuarial Risk Management, Ltd. (ARM) and Patni’s North American member of ACE™ said, "The recent events in the past year have led more and more companies to recognize the value of actuarial skills. We expect that these skills will be demanded at a faster pace. We are happy to join forces with Patni – from the insurance sector to employee benefit matters. Together our aim is to enable companies to mitigate risks across the enterprise in a cost-effective manner while delivering long-term value to our clients.” For more information about ACE™, please visit http://www.patni.com/cis-and-bpo/service-offerings/bpo-kpo/actuarial-valuations.aspx About Patni Patni Computer Systems Limited (BSE: PATNI COMPUT, NSE: PATNI, NYSE: PTI) is a global provider of IT Services and business solutions, servicing Global 2000 clients. Patni services its clients through its industry-focused practices, including banking, financial services (BFS) and insurance (I); manufacturing, retail and distribution (MRD); life sciences; communications, media and utilities (CMU), and its technology-focused practices. With an employee strength of around 13,600; multiple global delivery centers spread across 13 cities worldwide; 28 international offices across the Americas, Europe and Asia-Pacific; Patni has registered revenues of US$ 719 million for the year 2008. Patni’s service offerings include application development and maintenance, enterprise application solutions, business and technology consulting, product engineering services, infrastructure management services, customer interaction services & business process outsourcing, quality assurance and engineering services. Committed to quality, Patni adds value to its clients’ businesses through well-established and structured methodologies, tools and techniques. Patni is an ISO 9001: 2000 certified and SEI-CMMI Level 5 (V 1.2) organization, assessed enterprise wide at P-CMM Level 3. In keeping with its focus on continuous process improvements, Patni adopts Six Sigma practices as an integral part of its quality and process frameworks. Patni leverages its vast experience spanning three decades; deep domain expertise; full-spectrum services; and suites of IP-led solutions, methodologies and frameworks; in being an effective business transformation partner to its clients. For more information about Actuarial services, please contact bpo@patni.com. For more information on Patni, visit http://www.patni.com/. |
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