Mphasis, an international digital services company, today announced the signature of a long-term contract for several million euros with MFPrévoyance (MFP), a subsidiary of CNP Assurances, France’s leading personal insurance company. In the context of this strategic agreement, Mphasis will deploy its solution to meet the needs for managing MFP insurance products marketed in France.
Mphasis Wyde, editor of Wynsure software, will accelerate the solution deployment process to 18 months (data migration included) and will support MFP in the management of the insurer’s distribution networks. The first Mphasis deployment phase will concern MFP group insurance products and will later be expanded to cover loan insurance products.
Antoine Leroy, Chairman of the Board of MFPrévoyance, commented: “Since the insurance market in France is constantly evolving, we needed to make rapid changes to confront an environment which is increasingly competitive. We were looking for a partner who is able to understand market expectations. We chose Mphasis after a long and thorough process of evaluating several market solutions. Our partnership with Mphasis is an integral part of our approach to improve service quality, as well as enhance performance and productivity in the sectors of activity where we are present. It will enable us to reinforce our development capability in the French market.”
Philippe Payet, General Manager of Mphasis Wyde Europe, added: “We are pleased that MFPrévoyance chose the Wynsure solution for this very strategic program. This decision reinforces the position of Wynsure as the leader in group insurance and credit insurance in the French market. It also demonstrates the added value that Mphasis, our parent company, has incorporated in our product with the implementation of a ‘Wynsure as a Service’ offer. Wynsure’s modularity and exceptional flexibility will help MFPrévoyance remain a major player in the fast-moving French insurance environment. We are delighted to work with MFPrévoyance and are eager to welcome them to our growing club of clients in the group insurance sector.”
Mphasis Wyde innovated by proposing new services and technologies in 2013. Last year, the company implemented a cloud offer by distributing “Billing as a Service,” which is supported on the Wynsure platform, to insurance companies in the United States.
MFPrévoyance is a subsidiary of CNP Assurances, the leading provider of personal insurance in France, number one in insurance and health in France, and number three in group retirement savings plans. Since January 1, 2011, CNP holds 65% of MFP capital. The other shareholders include MFP Services and seven civil service mutual funds (MCDEF, MFFOM, MGEFI, MGEN, MMJ, MNAM and MPCDC). MFPrévoyance aims to become the social protection market reference in France by basing its actions on the values conveyed by its traditional partners and by CNP Assurances, as well as on the financial solidity of its main shareholder. MFPrévoyance covers all insurance needs for the members and policyholders of its partners (mutual funds and brokers).
About Mphasis Wyde and Wynsure
Mphasis Wyde is an international software editor and the creator of Wynsure, a world-class solution for insurance management. In 2011, the strategic acquisition of Wyde by Mphasis reinforced group expertise in the business solutions and technologies area for the worldwide insurance sector. Wynsure is a proven application which enables managing group and individual policies for international players in insurance. Wynsure has outstanding flexibility and is extremely reliable, and its modular design enables either integral implementation or implementation by functional module. Wynsure regularly receives positive recognition from insurance analysts, as well as confirmation from its global client base that Wynsure is the best solution for optimizing insurer activities.
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Joe Palladino, 781-684-6643