Denmark-based Tryg, the country's largest property and casualty insurance company, has signed a five-year $80 million contract with Computer Sciences Corp. (CSC, Austin, TX).
CSC will essentially take over and manage the entire Tryg IT infrastructure, says Ingelise Bogason, managing director for Denmark, CSC. CSC will provide mainframe, midrange, desktop, Web hosting, print, distributed computing infrastructure services and help-desk and network infrastructure functions, according to the agreement. CSC will also implement a mainframe disaster recovery solution for Tryg, a subsidiary of the Tryg Vesta Group, Scandinavia's second largest insurance group.
"We will implement improvements in quality, accessibility, stability and speed in our IT systems," says Peter Falkenham, managing director, Tryg. Also, Tryg "will reduce operational costs, which will influence our expense ratio favorably," he adds.
According to a CSC spokesperson, the $80 million deal is "a medium-sized deal" for the global provider of IT products and services, citing last year's 10 year, $560 million IT outsourcing contract with D&B (formerly Dun & Bradstreet).
Previously, "CSC only had smaller projects and consulting with Tryg," says Bogason. "This contract is a breakthrough for CSC and we hope to build on it in the future."
Currently, Tryg's IT supplier, Nordea-IT, is the information technology organization of Tryg's former owner, Nordea, a financial services company. Seven staff members from Tryg and 70 from Nordea-IT are expected to join CSC on December 1.
Although, Tryg is severing its information technology relationship with Nordea-IT, it will maintain its cross selling relationship for insurance and financial products with Nordea. Under the existing business partnership, Tryg markets Nordea's pension products and Nordea markets insurance services.
Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio