NEW YORK, Nov. 10, 2016 /PRNewswire/ -- Wyde, a leading international provider of policy administration solutions, today announced the signing of a long-term contract with Covéa Affinity, an affiliate of the Covéa Group dedicated to affinity insurance in the automotive world. As part of this strategic agreement, Wyde will provide their end to end policy administration system, Wynsure as a Service solution.
Wynsure as a Service, the insurance industry compliant solution, is a hosted multiline policy administration product that focuses on Group Benefits (L&H), Individual Life and Credit Protection Insurance segments. The secure and scalable cloud-based solution offers a complete turnkey solution that includes application hosting and management, consulting and configuration services in addition to 24x7 help desk support.
Ramon Estrugo, Director of Operations, Covéa Affinity said, "We have set in motion a comprehensive and stringent selection process along with our IT department and the entire business user teams for the solution. More than seeking a software package, primarily we were seeking a partner who is capable of fully supporting us in our ambitious development program related to mechanical warranty. The capacity of Wyde to meet this expectation as well as the features which already exist in Wynsure have been crucial in our selection."
In order to meet the new challenges and demands that carriers are facing in today's digital environment, Wyde has innovated by offering new services and technologies. In order to exceed the demand and expectations, the focus was on digitalization and the ability to provide a complete web based solution. This solution provides the full Wynsure Suite on the cloud while offering carriers with options in security, service levels, implementation and updates.
Rajesh Makhija, Chief Executive Officer, Wyde, points out, "We are honored that Covéa Affinity has opted to work with Wyde and has recognized our ability to meet the expectations of their program. During the selection process, Wyde demonstrated the functional and technological power of Wynsure. This agreement reflects our strong commitment to extend Wynsure as a Service solutions as a product strategy."
About Wyde (An Mphasis Group Company)
Wyde is a market leader in policy administration software & solutions for Life insurance industry. We are the creator of Wynsure, a proven software platform, at many of the leading insurance carriers in North America and Europe. We are headquartered in Bloomington, Minnesota, USA, with offices in Canada, a modern Research & Development Center in Paris, France, and Delivery Centers of Excellence in both Poland and India. Wynsure is a multi-line, multi-language, multi-currency, easily configurable software product that offers end to end business solutions in hosted & cloud environments. More information is available at www.wyde.com.
About Covéa Affinity
Covéa Affinity is an affiliate of the Covéa Group, specialized in affinity insurance which is prevalent in the automotive world. Its turnover in 2015 was €470 million. Partner to manufacturers, automobile professionals, captive financing and financial and leasing companies, Covéa Affinity offers customized solutions to meet the requirements of its customers related to financial insurance, mechanical warranty and damage insurance. It is active in major European countries.
Covéa, a mutual insurance group, is a major player in the insurance sector, active in its key markets and leader in damages and liability sectors in France. With its MAAF, MMA and GMF brands, the Group insures more than 11.4 million French people. Its turnover in 2015 exceeds €17.2 billion of which 15% is generated overseas. Covéa accounts for 26,000 employees in the world of which more than 21,000 are France based.
For further information, please contact:
Mphasis Wyde Corporate Communications
+1 (347) 268-0661 | +1 (646) 424-5160
+91 9845 256 283
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SOURCE Mphasis Wyde