Three Key Hires Bring Combined 85 Years Insurance Industry Experience
CAMBRIDGE, Mass., March 21 /PRNewswire/ -- Patni Computer Systems, Ltd.,
India's leading IT services company, announced today the addition of three
insurance industry veterans to its growing Insurance Services Business
Practice. As Principal Solutions Architects (PSAs), these executives bring
over 85 years of industry experience to Patni's already deep roster of
insurance industry talent. The PSAs will enable Patni better meet the specific
IT services needs of its insurance customers.
As part of Patni's Insurance Consulting Services practice, the PSAs will
be responsible for devising and driving the IT solution frameworks for Patni's
global insurance customers. The Insurance business unit grew 27.9 percent in
FY 2004 to US $118 million, contributing nearly a third of Patni's overall
revenue. Patni boasts an impressive client base in the insurance space,
including a broad spectrum of Life, Property and Casualty, Healthcare and
Reinsurance carriers across the globe.
The new additions to the Insurance Services Business Practice include:
-- Judy Johnson brings over 20 year of business, technology and management
experience to Patni. Recognized across the insurance industry as a
thought-leader on creating business value through advanced technology
solutions, Johnson comes to Patni from Sapiens Americas, where she was
Vice President of Insurance Strategy.
-- Larry Amundsen brings over 35 years of global insurance business,
technology and management experience to Patni. Prior to Patni,
Amundsen was Principal/Director at Strategic Business Partners, Inc.,
where he provided marketing and sales consulting services to software
and services companies.
-- John Pierce brings 30 years of experience in strategy development and
managing the IT function and organizations, specializing in insurance
industry. Prior to Patni, Pierce was Vice President of the Insurance
Strategic Business Unit for EDS.
"Our annual revenue rate in the insurance vertical is among the highest of
all the Indian offshore providers and to maintain this, we are constantly
seeking to expand our extensive insurance domain expertise," said Vijay Khare,
Senior Vice President, Patni. "The addition of industry veterans like Judy,
Larry and John underscores our commitment to hiring the best insurance
business talent available as we strive to achieve corporate objectives and
better serve our insurance customers."
About Patni
Patni Computer Systems Limited (BSE: PATNI COMPUT, NSE: PATNI) is a global
IT Services provider servicing Global 2000 clients in the Manufacturing,
Insurance, Banking & Financial Services, Telecom and Independent Software
Vendor (ISV) industries. With an employee strength of over 9,500; multiple
offshore development facilities across eight cities; and 24 international
offices across the Americas, Europe and Asia-Pacific; Patni has registered
revenues of US$ 327 million for the year 2004. Patni's technology focus spans
enterprise application solutions, embedded technology solutions, e-business
solutions, and business intelligence solutions. Service offerings include:
application development and maintenance, business process outsourcing,
enterprise systems management, product engineering, verification & validation,
and process consulting services. Committed to quality, Patni adds value to its
client's businesses through well-established and structured methodologies,
tools and techniques. Patni is an ISO 9001:2000 certified and SEI-CMMi Level 5
organization, assessed enterprise wide at P-CMM Level 3. In keeping with its
focus on continuous process improvements, Patni adopts Six Sigma practices as
an integral part of its quality and process frameworks.
For more information on Patni please visit http://www.patni.com
Safe Harbor:
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 actual results to differ materially from those
in such forward-looking statements. The risks and uncertainties relating to
these statements include, but are not limited to, risks and uncertainties
regarding fluctuations in earnings, our ability to manage growth, intense
competition in IT services including those factors which may affect our cost
advantage, wage increases in India, our ability to attract and retain highly
skilled professionals, time and cost overruns on fixed-price, fixed-time frame
contracts, client concentration, restrictions on immigration, our ability to
manage our international operations, reduced demand for technology in our key
focus areas, disruptions in telecommunication networks, liability for damages
on our service contracts, the success of the companies in which Patni has made
strategic investments, withdrawal of governmental fiscal incentives, political
instability, legal restrictions on raising capital or acquiring companies
outside India, and unauthorized use of our intellectual property and general
economic conditions affecting our industry. Additional risks that could
affect our future operating results are more fully described in our Red
herring filing. The company does not undertake to update any forward-looking
statement that may be made from time to time by or on behalf of the Company.
For editorial queries please contact:
Sriya Kodial
Text 100 for Patni Computer Systems
617.399.4918
sriyak@text100.com
Colin White
Patni Computer Systems
617.914.8337
colin.white@patni.com
SOURCE Patni Computer Systems, Ltd.
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Related links:
http://www.patni.com
CONTACT:
Sriya Kodial of Text 100 for Patni Computer
Systems, +1-617-399-4918, sriyak@text100.com; or Colin White of
Patni Computer Systems, +1-617-914-8337, colin.white@patni.com
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