THE
GUARDIAN LIFE INSURANCE COMPANY OF AMERICA TAPS COVANSYS FOR
COMPANY WIDE SYSTEM ENHANCEMENTS
Covansys'
Offshore Outsourcing and Web-To-Enterprise Capabilities
Key In Contract Win
FARMINGTON HILLS, Mich.--Sept. 30, 2002--Covansys, (Nasdaq: CVNS) a
global technology services company, today announced that they have signed
an offshore outsourcing agreement with The Guardian Life Insurance Company
of America (Guardian), the fourth largest mutual life insurance company
in the United States.
Under the terms of the agreement, estimated to be in the multi-million
dollar range, Covansys has been chosen as a Guardian support and development
vendor on their Group Insurance applications and other key technology and
business initiatives, including client data, claims reporting and proposal
processing systems.
Over the course of this relationship, Covansys will integrate and enhance
Guardian's existing legacy systems. When completed, the enhanced systems
are intended to provide Guardian customers with higher levels of customer
service attributable to system improvements such as faster claims processing
and smoother application transition.
Approximately 20 percent of the work will be conducted onsite at Guardian,
with the remaining 80 percent conducted at Covansys' Offshore Development
Centers in India.
"Our decision to work with Covansys was finalized after we visited Covansys'
offshore development center in Chennai," said Dennis Callahan, Guardian's
SVP & Chief Information Officer. "We were very impressed by the Covansys
facility, the professionalism of their Indian management team, the quality of
their IT staff, their best of breed processes and metrics."
"Covansys is proud to have been selected to partner with Guardian," said
Tim Wolfe, Covansys Executive Vice President. "With our strong track record
of successful outsourcing engagements, we are confident that we will be able
to help Guardian maximize their IT dollars by reducing overall project costs,
while simultaneously ensuring project quality thanks to our rigorous CMM® Level
5 driven processes. The savings realized will allow Guardian, in turn, to redirect
those funds towards achieving the more strategic, top-line initiatives that make
them leaders in their industry."
Covansys has a decade-long track record of success in providing domestically
managed offshore outsourcing for more than four dozen top companies, including
SIRVA, Ford Motor Company, Henry Ford Health Systems and UnumProvident
Corporation. Covansys offers three offshore development centers, with a
staff of more than 1500, providing expertise and capabilities in application
development, maintenance, migration and integration. Its facilities are
one of the few in the world to hold the Software Engineering Institute's
CMM® Level
5 quality rating.
About
Guardian Life Insurance Company of America
The
Guardian Life Insurance Company of America, New York, NY (Guardian),
is the fourth largest mutual life insurance company in the
United States. As of December 31, 2001, Guardian and its subsidiaries
had $34.3 billion in assets. Founded in 1860, Guardian is listed
among Fortune Magazine's top 500 businesses and was ranked
in the top 10 on Fortune's 2002 "Most Admired" life
and health insurers list. With 6,000 employees, over 2,700
financial representatives and 100 agencies nationwide, Guardian
and its subsidiaries protect individuals, businesses and their
employees with life, disability, health and dental insurance
products, and offer 401(k), mutual fund and annuity investment
products, and trust services. More information on Guardian
can be obtained at: www.glic.com.
About
Covansys
Headquartered
in Michigan, Covansys Corporation (Nasdaq: CVNS) is a global
consulting and technology services company specializing in industry-specific
solutions, strategic outsourcing and integration services. Our
clients gain competitive advantage by leveraging our unique on-site,
offsite, offshore delivery capability to achieve rapid deployment,
world-class quality and reduced costs. Since being founded in1985,
Covansys has successfully delivered an array of innovative and
cost-effective business and technical solutions to leaders in
the private and public sector. Our 4,700 employees offer a professional
heritage spanning Old World legacy systems and the New Economy's
leading-edge technologies. Covansys has 23 locations, including
six development centers worldwide. Covansys offers one of the
largest offshore capabilities among U.S.-based technology services
providers, and two of the company's three wholly owned development
centers in India are SEI CMM® Level 5 certified.
Covansys was named one of the top 500 solution providers in North
America in 2002 by VARBusiness magazine.
For
More Information, Contact:
Laura Livingstone
Covansys Corporation
(401) 457-8514
llivings@covansys.com
Margaret Brady
Morrissey & Company
(617) 523-4141
mbrady@morrisseypr.com
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