- The partnership would enable digitalization of sales and distribution channels
- With this partnership both companies will leverage No-Code Platforms to accelerate the launch of custom-built applications for their collective network of clients
According to a report in Economic Times, Tech Mahindra would partner with Innoveo, a Zuriich based technology software provider, to drive digital transformation for insurance banking and wealth management.
Through this partnership, both companies will leverage No-Code Platforms to accelerate the launch of custom-built applications for their collective network of clients without software coding in real-time across all banking, wealth management and insurance sectors.
Gautam Bhasin, Global Head Banking, Financial Services and Insurance, Tech Mahindra said “Through our partnership with Innoveo, Tech Mahindra will enable digitalization of sales and distribution channels for enterprises to ensure launch of new products in real time; help them trade financial and insurance products through multiple distribution channels, and improve efficiency of processes like risk assessment, insurance policies, banking products, policy lifecycle, customer advisory, servicing and claims resolution.”
Amir Ghaffar, CEO, Innoveo, said, “While the demands for agility, market proximity and the flexibility to adapt to new trends are constantly increasing, digital businesses are struggling with restrictions in terms of development capacity and the integration capability of its often-monolithic back-end legacy systems. If you want to stay ahead of the competition, you must speed up the introduction of digital solutions and innovative offerings.”
Today’s business models are faced with maturing markets combined with millennial demands for engaging experiences. Also scarcity of technical talent with the necessary coding expertise, and the critical need to accelerate innovation and enable new business models is much needed in order to grow and succeed financially. Tech Mahindra and Innoveo would offer innovative solutions to companies struggling with competitive market demands and critical antiquated legacy systems, it said in a statement.