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Maveric Systems signs multi-year contract with SBI General Insurance

Provides Software Testing and Validation services to the greenfield Insurance venture.

Maveric Systems, a leading global independent software testing specialist, has signed a multi-year contract with SBI General Insurance to provide Software Testing and Validation services. SBI General Insurance, a joint venture between the State Bank of India and Insurance Australia Group, is a greenfield venture in the Insurance domain in India. Maveric will be a strategic partner supporting SBI General’s complete technology rollout and product launches. With validation and production support from Maveric, SBI General has rolled out its first set of products across the corporate and retail space.

SBI General is looking to be a multi-product, multi-segment and multi-channel company, driven by state-of-the-art IT systems. Maveric—with its strong focus on the BFSI domain—has been engaged to assess application quality and usability. In this ambitious venture of immense scale and complexity, SBI General is working towards having one of the most advanced technology stacks in the global Insurance space.

Commenting on the project, Mr. Ranga Reddy, CEO and Founder, Maveric Systems, said, “Maveric has had a deep relationship with SBI and SBI Life Insurance and the team is now very excited to be partnering SBI General in this prestigious project. There have been rich learnings till date and we look forward to the forthcoming product launches. The challenging scale and intense complexity of this venture make it one of Maveric’s most impressive projects in Insurance testing. In the year ahead, Maveric will strengthen its focus on the Indian market and look to expand its clientele in the Insurance space.”

Commenting on the partnership, Mr. Manoj Agarwal, CIO and Head of IT, SBI General Insurance, said, “Maveric is a proficient Validation partner and SBI General is benefiting from Maveric’s domain expertise in Insurance, dynamic test strategy and good focus on project governance. We appreciate the commitment to the project displayed by their team. As we gear up to roll out our complex and comprehensive product portfolio, we look forward to Maveric’s critical audit of our technology releases.”

Market opportunity for Software Testing in India: According to NASSCOM, the domestic software testing market, which is currently at USD 200 million, has the potential to cross USD 1.5 billion by 2020.