Zensar Technologies launches its Insurance Vertical with 10 million USD business

Zensar Technologies Ltd has announced the win of a 7 Mn USD Insurance deal with a large South African Insurance Company.

Ganesh Natarajan, Dy Chairman and Managing Director of the Company said, "We are delighted to take our business in the Insurance Vertical to its 10 Mn USD mark with the acquisition of a new Insurance account in South Africa. This win further consolidates our launch of this vertical, since it follows 3 Mn USD business from a US Mid West premium provider of Insurance products, and a million dollar initial contract for BPO services with a Latin America Insurance client."

The Company has a strong focus on the Financial Services Industry with expertise in the area of Investment Banking and clients in the USA, UK, Switzerland and Asia. It also operates offshore centres in India and South East Asia for three of its Financial Services clients for a large US Mid-West Insurance Company.

This win from South Africa also increases offshore accounts from South Africa for the Company, this being the largest. The customer requires multiple components of Maintenance and Support, Testing, COMPASS skills, Application Migration and Enterprise Architectural Consulting. The deal as of now with current components is at 7 Mn USD and promises to grow significantly over the next 3 years, with a number of opportunities already in the pipeline. This win also reiterates the Company's leadership in financial services in the emerging market of South Africa, with the Company operating offshore development centres for three of the largest financial institutions of the country.

Vijay Saradhi has been named the Financial Services Vertical Head at the Company.

Source : Equity Bulls

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