Feb, 2002 : IBM Canada Builds Solutions Centre for Insurance Industry
📅 - IBM Canada Ltd. (can.ibm.com) announced yesterday it willcreate an International Insurance Solutions Centre (ISC) that will becentred at the University of Waterloo with operations inToronto, a resource centre committed to developing, deploying and managingsolutions to help insurance companies succeed in a changing marketplace.
"The insurance industry is faced with deregulation, mergers andacquisitions, and increased competition," said Bill Pieroni, generalmanager, Global Insurance Industry, IBM Corp. "Insurance companies want todecrease their time to market, and increase their ability to react to thechanging needs of the market. IBM and our partners can help them do this,and reduce costs, through the Insurance Solutions Centre, strategicallylocated here at the University of Waterloo, and part of a global network ofcentres of excellence."
In related news, IBM also announced yesterday that Manulife FinancialCorporation, a provider of financial protection and wealth managementproducts in Canada, the United States and Asia, has agreed to be a premiereparticipant of the ISC. This agreement is concurrent with the recent signingof a Memorandum of Understanding for management by IBM of Manulife's NorthAmerican information technology infrastructure.
IBM intends to provide operational services to support Manulife's NorthAmerican IT requirements including data centres, help desk, desktopcomputers, and voice and data networks. The agreement would also involve thetransfer of approximately 400 Manulife employees to IBM. Bell Nexxia willprovide the support and delivery of all local area network , metropolitanarea network and wide area network infrastructure, as well as all telephonyservices, to support Manulife's Voice and Data Communications requirements.
The agreement is an integral part of Manulife's ongoing technologytransformation program. "Our decision to partner with IBM allows us toharness their IT expertise with our strategic objectives for global growth.This agreement will provide improved customer service and significantexpense management opportunities," said John Mather, executive vicepresident and CIO of Manulife Financial.
IBM's plans for the ISC include working closely with IBM Research,consisting of 3,000 researchers, in eight labs around the world. The ISCwill bring together "communities of interest," including IBM's insuranceindustry partners and customers, to support the delivery of clients'application functions. Several firms are already planning to participatewith IBM's ISC, including Castek, DSPA, DWL Inc., Peoplesoft, The InnovationGroup and RPM Technologies Corp.
"The insurance industry is faced with deregulation, mergers andacquisitions, and increased competition," said Bill Pieroni, generalmanager, Global Insurance Industry, IBM Corp. "Insurance companies want todecrease their time to market, and increase their ability to react to thechanging needs of the market. IBM and our partners can help them do this,and reduce costs, through the Insurance Solutions Centre, strategicallylocated here at the University of Waterloo, and part of a global network ofcentres of excellence."
In related news, IBM also announced yesterday that Manulife FinancialCorporation, a provider of financial protection and wealth managementproducts in Canada, the United States and Asia, has agreed to be a premiereparticipant of the ISC. This agreement is concurrent with the recent signingof a Memorandum of Understanding for management by IBM of Manulife's NorthAmerican information technology infrastructure.
IBM intends to provide operational services to support Manulife's NorthAmerican IT requirements including data centres, help desk, desktopcomputers, and voice and data networks. The agreement would also involve thetransfer of approximately 400 Manulife employees to IBM. Bell Nexxia willprovide the support and delivery of all local area network , metropolitanarea network and wide area network infrastructure, as well as all telephonyservices, to support Manulife's Voice and Data Communications requirements.
The agreement is an integral part of Manulife's ongoing technologytransformation program. "Our decision to partner with IBM allows us toharness their IT expertise with our strategic objectives for global growth.This agreement will provide improved customer service and significantexpense management opportunities," said John Mather, executive vicepresident and CIO of Manulife Financial.
IBM's plans for the ISC include working closely with IBM Research,consisting of 3,000 researchers, in eight labs around the world. The ISCwill bring together "communities of interest," including IBM's insuranceindustry partners and customers, to support the delivery of clients'application functions. Several firms are already planning to participatewith IBM's ISC, including Castek, DSPA, DWL Inc., Peoplesoft, The InnovationGroup and RPM Technologies Corp.
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