Satyam Partners with SISTRAN to Help Insurance Customers Expand into Global Markets
September 24 2007 - 12:17PM
PR Newswire (US)
Combination of Satyam Services and SISTRAN Software Extend
End-to-End Insurance Solutions around the Globe HYDERABAD, India,
Sept. 24 /PRNewswire-FirstCall/ -- Satyam Computer Services Ltd.
(NYSE:SAY), a leading global consulting and information technology
services company, today announced a global partnership with
SISTRAN, a leading software and services provider for the insurance
industry. The combination of Satyam services and SISTRAN solutions
enables insurance organizations to more efficiently extend a common
platform to offices around the globe. The extended, end-to-end
solutions resulting from the partnership also help insurance
companies more easily serve high-growth markets around the world.
"Many of our insurance customers are focusing on expanding into
high-growth markets, primarily in Europe, Asia, and the Middle
East," said Tim Montgomery, leader of Satyam's Global Integrated
Insurance Business. "To meet the challenges associated with this
new frontier, these customers need management systems that are
quickly adaptable and scalable, and SISTRAN's suite of tools
accommodates those requirements perfectly. The suite provides the
flexibility that will enable Satyam to deliver value to insurers
faster. "We are excited to collaborate with SISTRAN and benefit
from its industry expertise and successful history in Latin America
to transform insurance companies all over the world." Moreover, the
strategic partnership enables SISTRAN, a company with an excellent
track record in insurance software, to leverage Satyam's renowned
Insurance Practice and strong global presence. In addition, Satyam
can implement, optimize, and support SISTRAN's world-class
solutions globally. Satyam is also more effectively able to address
complex business challenges and provide flexibility across the
entire insurance value chain. As such, its insurance customers can
respond rapidly to market changes. "By joining forces with Satyam,
SISTRAN can substantially increase its presence as the business
expands in these global economies," said Alex Pineda, SISTRAN's
chief executive officer. "This alliance enables SISTRAN to bring
world-class, end-to-end insurance solutions to customers around the
world. At the same time, it adds a great deal of efficiency and
value to our software implementations, product development, and
support." SISTRAN serves more than 100 insurance carriers, from
small businesses to large enterprises. The company's solutions
allow insurers to enhance their operational and financial
performance by improving the processes of risk-acceptance and
loss-mitigation, automating underwriting, reducing claim cycle
time, and managing increasing compliance and regulatory
requirements. "The partnership was a natural fit due to the
synergies between Satyam's global solution delivery methodology and
support, and SISTRAN's expertise in the insurance software
business," said Juan Mazzini, VP New Markets at SISTRAN. "Both
companies are dedicated to providing customers with complete
solution delivery and support, customer-oriented solutions, and low
system maintenance costs," Montgomery added. "These common values
are the foundation of a partnership that will deliver new and
enhanced value to insurance customers worldwide." About Satyam
Satyam (NYSE:SAY), a leading global business and information
technology services company, delivers consulting, systems
integration, and outsourcing solutions to clients in 20 industries
and 57 countries. Satyam leverages deep industry and functional
expertise, leading technology practices, and an advanced, global
delivery model to help clients transform their highest-value
business processes and improve their business performance. The
company's 42,500* professionals excel in engineering and product
development, supply chain management, client relationship
management, business process quality, business intelligence,
enterprise integration, and infrastructure management, among other
key capabilities. Satyam development and delivery centers in the
US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China,
Malaysia, Singapore, and Australia serve 570* clients, including
one-third of the US Fortune 500. For more information, see
http://www.satyam.com/. *As of June 30, 2007 About SISTRAN SISTRAN
has been providing software solutions and services for the
insurance industry since 1977. Its solutions include a rules-based
insurance product designer; a policy administration system; mobile
and wireless solutions; a claims administration system; a
reinsurance system; regulatory reporting, billing, accounting, and
a general ledger system. SISTRAN provides a wide range of services
including outsourcing, consulting, integration, and maintenance
services to carriers, MGAs, and TPAs. From small companies to
multibillion-dollar enterprises in the Life and P&C industry,
SISTRAN helps define insurers' IT and operations strategies while
evaluating, designing, developing, and implementing the systems and
processes that best solve their business challenges. Satyam
Contacts For clarifications, write to us at Or contact our global
PR representatives at: India Geeta Fadnavis, + 91-040-23220067 US
Siobhan Aalders +1-212-880 5341, +1 347 387 0733 Ogilvy Point
Person and contact info Rob Zabrecky O: 303-634-2677 / M:
303-859-0353 Europe Clare Gibbins +44-20-7309 1037 Asia-Pacific
Simon Murphy +61 (02) 8281 3826 Safe Harbor This press release
contains forward-looking statements within the meaning of section
27A of Securities Act of 1933, as amended, and section 21E of the
Securities Exchange Act of 1934, as amended. The forward-looking
statements contained herein are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those reflected in the forward-looking statements. Satyam
undertakes no duty to update any forward-looking statements. For a
discussion of the risks associated with our business, please see
the discussions under the heading "Risk Factors" in our report on
Form 6-K concerning the quarter ended June 30, 2006, furnished to
the United States Securities Exchange Commission on July 28, 2006
and the other reports filed with the Securities Exchange Commission
from time to time. These filings are available at
http://www.sec.gov/. DATASOURCE: Satyam Computer Services Ltd
CONTACT: India: Geeta Fadnavis, , + 91-040-23220067; US: Siobhan
Aalders, , +1-212-880 5341, +1 347 387 0733; Ogilvy Point
Person:Rob Zabrecky, , O: +1-303-634-2677 / M: +1-303-859-0353;
Europe: Clare Gibbins , +44-20-7309 1037; Asia-Pacific: Simon
Murphy , +61 (02) 8281 3826, all for Satyam Computer Services Ltd.
Web Site: http://www.satyam.com/
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