Boston-based Duck Creek Technologies and Mumbai-based Larsen and Toubro Infotech (LTI) are set to help property and casualty insurance carrier Mutual Benefit Group move its core systems to a SaaS-based model.
LTI, as per a statement, will help Pennsylvania-based Mutual Benefit Group, which currently deploys Duck Creek’s integrated platform, move to Duck Creek OnDemand, a SaaS-based offering.
“Our team, along with LTI and Duck Creek, adopted a test-and-learn approach, and we intend to regularly update the system and take advantage of new features as they become available,” Adam Solomon, CIO of Mutual Benefit Group, said.
Solomon added that the SaaS approach would provide a new target operating model for the insurance company’s business.
LTI, a systems integrator partner for Duck Creek, will offer its solutions for claims efficiency, loss prevention, new channel distribution and modern user experience.
DuckCreek provides solutions, both on a standalone basis and as a full suite, on its SaaS platform OnDemand.
Mutual Benefit Group has an employee base of 150 and handles 70,000 policyholders, with 60% in the personal insurance and 40% in the business insurance areas.
Last month, LTI announced that it will expand its global alliance with Armonk-based technology giant IBM and establish an innovation centre in Bengaluru in 2021. The centre is expected to offer a suite of IBM services such as cloud, automation, integration, data and artificial intelligence solutions aimed at fostering innovation.