HCL Technologies has won a lucrative CIS deal from the National Insurance Company.

NICL reportedly allocated approximately Rs 400 crore ($81 million) for the implementation of HCL's core insurance solution over a two year period. The comprehensive agreement includes the installation of servers and various applications in NICL offices.

CIS products allow health insurance companies to automate and standardise various tasks, such as the uniform renewal of policy solutions from any branch office. A number of Indian companies have recently purchased CIS solutions, including United India Insurance, which is set to deploy a package offered by Hewlett Packard.

HCL Infosystems has managed to defy the global economic slowdown by reporting consolidated revenue of Rs 3125.8 crore ($626 million) for the quarter ended 30 September 2008. Profit after tax for the quarter was Rs 66.1 crore ($13.2 million). Revenue from computer systems business for the quarter was Rs 875.9 crore ($175.3 million) compared with Rs 761.4 crore ($152.4 million) in the corresponding quarter of the previous year.

CEO Ajai Chowdhry attributed HCL's current success to its diverse business portfolio, which includes clients in the hardware, distribution and system integration sectors.  X

Check Out
Business Line
IT Examiner
Sify