IBM will manage back office processes for the company's Life and Pension Insurance unit
SulAmerica has signed a new agreement with IBM Brazil to manage its business processes for the company's Life and Pension Insurance unit. IBM (NYSE: IBM) will be responsible for the back office activities of both areas, including issuing policies, registration updates, document transfers and claim management. The 12-year agreement signed in April 2010 is valued at more than $200 million.
The agreement also covers information technology (IT) infrastructure services, maintenance of legacy applications, construction of a dedicated service center in the city of Barueri and the hiring of professionals currently allocated to the insurance company's Life and Pension operations. In order to maintain service continuity, IBM Brazil will also support the management of current applications.