December 16, 2008 - London, United Kingdom
MindTree supplements NFU Mutual's internal testing team; provides expertise and significant savings to the UK insurance company.
MindTree Limited, a global IT and R&D services company, announced today that it is implementing a range of services in the area of application testing for The National Farmers Union Mutual Insurance Society Limited (NFU Mutual), a leading United Kingdom-based financial services company dedicated to serving the rural community. MindTree is delivering several services to NFU Mutual including functional testing, test automation and test consulting, and is participating in a large technology refresh program of one of its core business units.
NFU Mutual is in the process of rolling out a next-generation underwriting and policy administration system to support its general insurance business.
The introduction of new systems created a massive additional demand on the company's testing capacity over a two-year period, and NFU Mutual needed a partner that could supplement its internal capacity and capabilities.
"We assessed multiple vendors and chose MindTree because they scored favorably across all of our evaluation criteria, capabilities, processes and experience, and they presented a close cultural fit with our company values.
We were particularly impressed with the constructive and sometimes challenging discussions from our earliest meetings, which suggested an expectation of the 'partnership' we wanted," said Debbie Baird, IT business process manager, NFU Mutual. "By engaging MindTree, NFU Mutual has not only managed to fulfill our medium term capacity needs, but has also managed to realize significant cost savings. We look forward to building our relationship with MindTree and potentially supplementing other areas."
MindTree's Insurance Practice delivers comprehensive IT solutions to the Insurance Industry ranging from product configuration, through distribution management and underwriting, to servicing and analytics. MindTree's deep domain expertise, industry training and partnerships with globally recognized leaders ensure that members of its Insurance Practice have the specialized business knowledge to engage with Insurance clients.
"A dedicated team of MindTree Minds is in the process of augmenting NFU Mutual's testing capacity and capability as well as meeting its IT business transformation program objectives and milestones," said Erik Mann, executive vice president, Insurance Group, MindTree. "Our extensive expertise in the insurance industry and testing services lends itself to the rapid success of the project and we look forward to continuously innovating with NFU Mutual into 2009."
With over 300 offices located in rural towns and villages throughout the UK, NFU Mutual has become part of the fabric of rural life and remains committed to serving the needs of people who visit, live or work in the countryside. Recognized as a UK leading rural insurer, NFU Mutual offers a wide range of products, including general insurance, life, pensions, investments, and risk management services. These products and services are delivered through the agency network, as well as through a direct sales and service center.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
MindTree Limited is a global IT and R&D Services Company co-headquartered in the U.S. and India. With a passion for customer satisfaction, MindTree partners with its clients to create a transparent, value-based relationship. Our domain experts deliver business-enabling solutions by leveraging a consulting led, framework-based and IP-driven approach. MindTree's IT Services business provides a range of services to CIOs across a variety of industry segments. Our R&D Services business works with Technology companies to help build innovative products by providing Product Realization services. MindTree has acquired an 80% equity stake in Aztecsoft Ltd., a global leader in outsourced product development and independent testing. The Company intends to complete the merger by April 2009.
MindTree was named among the Top 30 offshore service providers by the International Association of Outsourcing Professionals and Fortune Magazine. Widely known for its focus on human capital development, MindTree has been consistently rated among the most admired employers by several industry surveys, including Hewitt Associates and Mercer/TNS, and is also the winner of the MAKE Award for knowledge management. MindTree has been selected as one of the Top 25 companies for good Corporate Governance practices. MindTree is publicly listed in India. Please visit us at www.mindtree.com.