Everest Group Positions Virtusa as a Major Contender for Large Insurance Application Outsourcing Relationships

WESTBOROUGH, Mass., – (December 15, 2015) – Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, today announced it has recently been recognized as a Star Performer in Large Insurance Application Outsourcing Relationships by Everest Group, an advisory and research firm on global services. Virtusa was recognized in the Major Contenders category of the award for the second consecutive year.

Issued annually, the Everest Group study measures service providers on their proprietary Performance, Experience, Ability and Knowledge (PEAK) Matrix™. Everest Group evaluated 21 global large insurance application outsourcing providers, and those recognized as Major Contenders demonstrated a strong growth focus, flexible staffing models, a willingness to take risks with a client-focused approach and an enthusiasm to invest in relationships.

“Our inclusion in this year’s Insurance PEAK Matrix demonstrates that our approach is delivering exceptional results for our clients,” said Steven Lowry, senior vice president, Insurance Business Unit head at Virtusa. “Virtusa has met the growing demand and emerging needs of the Insurance industry for application outsourcing support by leveraging its differentiated, preemptive approach to outsourcing – a three-pronged approach to eliminate, focus, and reduce effort for improved business outcomes. We will continue to invest in providing exceptional client services that enable insurers to drive operational efficiencies and support their innovation and business transformation journey.”

Virtusa provides strategic outsourcing services using its proven global delivery model, offering a range of innovative insurance solutions, along with domain expertise to complement the supplier services portfolios of insurance information technology outsourcing buyers. Acting as an agile transformation partner, Virtusa provides solutions and services that improve efficiency, support growth and retention, and enhance the customer experience.

“Insurers are increasingly leveraging IT service providers to support the launch of differentiated products and services, enhance customer experience through digital platforms, and contain costs through innovative technology and engagement models,” said Jimit Arora, Vice President, Everest Group. “Top quartile growth in its insurance revenues, a growing portfolio of domain-centric solutions, and superior customer satisfaction levels helped Virtusa achieve Star Performer designation, and enhance its position as a Major Contender on the 2015 Everest Group Insurance AO PEAK Matrix™.”

For the full report, click here https://research.everestgrp.com/Product/EGR-2015-11-R-1615/IT-Outsourcing-in-Global-Insurance-Service-Provider-Landscape

To learn more about Virtusa’s insurance practice, please visit http://www.virtusa.com/industries/insurance/our-perspective/

About Virtusa
Virtusa provides end-to-end information technology (IT) services to Global 2000 companies. These services, which include IT consulting, application maintenance, development, systems integration and managed services, leverage a unique Platforming methodology that transforms clients’ businesses through IT rationalization. Virtusa helps customers accelerate business outcomes by consolidating, rationalizing, and modernizing their core customer-facing processes into one or more core systems.

Virtusa delivers cost-effective solutions through a global delivery model, applying advanced methods such as Agile and Accelerated Solution Design to ensure that its solutions meet the clients’ requirements. As a result, its clients simultaneously reduce their IT operations cost while increasing their ability to meet changing business needs.

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

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Amy Legere
Greenough (617) 275-6517