IMRglobal Corp. Signs Multi-Year Agreement with ReliaStar Life Insurance Company

Strategic Insights -

IMRglobal Corp., a leading global provider of end-to-end information technology solutions, has signed a multi-year agreement with ReliaStar Life Insurance Company, a leading provider of employee benefits and worksite financial services. The project involves component-based development (CBD) work for ReliaStar's group insurance business and will be designed as a repeatable solution for subsequent marketing to other insurance companies with similar application requirements. This agreement marks an important milestone in the 4-year relationship between IMRglobal and ReliaStar, with IMRglobal's Chairman and CEO, Satish K. Sanan, expressing optimism about leveraging the components for resale to other insurance industry players.

Key Takeaways:

  • IMRglobal and ReliaStar have signed a multi-year agreement for component-based development (CBD) work for ReliaStar's group insurance business.
  • The project will be designed as a repeatable solution for subsequent marketing to other insurance companies with similar application requirements.
  • IMRglobal's work with ReliaStar has evolved into an important relationship between the two companies, spanning 4 years.
  • IMRglobal will leverage its expertise in component-based development to deliver tailored functionality to ReliaStar, combining domain knowledge with powerful CBD capabilities.
  • ReliaStar will receive fully customized solutions, delivered in the same timeframe as packaged solutions, with the added benefit of ease of maintenance and transferability for use in other applications.
  • As part of the agreement, IMRglobal will mentor the ReliaStar team on utilizing the cost-effective features of CBD solutions.

Statistics:

  • ReliaStar Life Insurance Company has over $190 billion of group life insurance in force.
  • ReliaStar Life is the nation's seventh-largest group life insurer, based on in-force group life volume.
  • ReliaStar Life has over 80 years of experience in the design and implementation of employee benefit plans.

Sources:

  • Business Wire article, "IMRglobal Corp. Signs Multi-Year Agreement with ReliaStar Life Insurance Company," August 14, 2000.
  • National Underwriter article, "The Nation's Largest Insurers by Group Life Volume," July 26, 1999.
  • IMRglobal Corp. press release, "About IMRglobal Corp.," no date provided.
  • ReliaStar Life Insurance Company press release, "About ReliaStar Life Insurance Company," no date provided.
  • ReliaStar Financial Corp. press release, "About ReliaStar Financial Corp.," no date provided.