VRTU - IDC MarketScape Recognizes Virtusa as a Major Player in Worldwide Digital Transformation Services for the Insurance Industry

Virtusa Corporation (NASDAQ GS:VRTU), a global provider of digital strategy, digital engineering, and IT outsourcing services that accelerates business outcomes for its clients, today announced that it has been named a Major Player in the IDC MarketScape: Worldwide Digital Transformation Service Providers for Insurance 2018-2019 Vendor Assessment (Doc #US43017518, December 2018).

The IDC Financial Insights study uses the IDC MarketScape model to provide an assessment of major IT service providers servicing insurance organizations across the globe in their digital transformation (DX) initiatives. The research is a quantitative and qualitative assessment of the characteristics that explain a vendor's ability to enable insurance organizations to succeed in their DX initiatives.

“We are delighted to be positioned as a major player in Digital Transformation Services for the Insurance industry,” said Ganesh Iyer, executive vice president and global head of Insurance, Virtusa. “The recognition reflects our strong capabilities to deliver best in class solutions and services for our clients to help them become digital enterprises of the future. Our continued investment in emerging technologies such as Blockchain, APIs, IoT and AI is enabling us to deliver differentiating value to our clients that have a direct impact on their business agility, market readiness and profitability.”

Leveraging its extensive experience in the Insurance industry, Virtusa brings a unique set of capabilities that harness its deep industry knowledge and strong digital engineering competency to help insurance companies reimagine their IT environment for today’s high-speed digital economy. Following are some examples that illustrate how Virtusa has helped global companies in their digital transformation journey:

• Enhanced worker safety and productivity with a complete IoT and digital chassis for a wearable B2B company
• Transformed the claims system for a global multi-line insurer by implementing a single claims system across 22 countries and 12 sub lines of business within Property and Casualty

For more information on IDC MarketScape report, please visit: https://www.idc.com/getdoc.jsp?containerId=US43017518

To learn more about Virtusa’s Insurance services, please visit: https://www.virtusa.com/industry/insurance/

About IDC MarketScape

IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About Virtusa

Virtusa Corporation (NASDAQ GS: VRTU) is a global provider of Digital Business Transformation, Digital Engineering, and Information Technology (IT) outsourcing services that accelerate our clients’ journey to their Digital Future. Virtusa serves Global 2000 companies in Banking, Financial Services, Insurance, Healthcare, Telecommunications, Media, Entertainment, Travel, Manufacturing, and Technology industries.

Using a combination of digital strategy, digital engineering, business implementation, and IT platform modernization services, Virtusa helps clients execute successful end-to-end digital business transformation initiatives.

Virtusa engages its clients to re-imagine their business models and develop strategies to defend and grow their business by introducing innovative products and services, developing distinctive digital consumer experiences, creating operational efficiency using digital labor, developing operational and IT platforms for the future, and rationalizing and modernizing their existing IT applications infrastructure. As a result, its clients are simultaneously able to drive business growth through digital-first customer experiences, while also consolidating and modernizing their IT application infrastructure to support digital business transformation.

Holding a proven record of success across industries, Virtusa readily understands its clients’ business challenges and uses its domain expertise to deliver innovative applications of technology to address its clients’ critical business challenges. Examples include building the world’s largest property & casualty claims modernization program; one of the largest corporate customer portals for a premier global bank; an order to cash implementation for a multinational telecommunications provider; and digital transformation initiatives for media and banking companies.

Founded in 1996 and headquartered in Massachusetts, Virtusa has operations in North America, Europe, and Asia.

© 2019 Virtusa Corporation. All rights reserved.

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