HCLTech and Keylane Life and Pension, a European provider of SaaS-based core administration platforms for the insurance and pension industry, have announced a partnership to address the modernisation of core IT systems across life insurance and pension services providers in Europe.
The partnership combines HCLTech's full-stack portfolio and domain expertise with Keylane's purpose-built platforms, aiming to make modernisation cycles faster and less friction-heavy.
Srinivasan Seshadri, chief growth officer and global head of financial services at HCLTech, said legacy modernisation was a pressing industry challenge.
"AI is transforming everything around us and yet modernization of legacy systems is one of the most pressing challenges facing insurance and pension services providers," said Seshadri. "With HCLTech's full-stack portfolio, deep domain expertise and Keylane's purpose-built platforms, we aim to make these modernization cycles faster and friction free to enable the industry to be ready for the AI-era and deliver digital first experiences to customers."
John Reynders, chief executive officer of Keylane Group, said providers were under increasing pressure to modernise while maintaining continuity.
"Life insurance and pension providers across Europe are under increasing pressure to modernize their core technology while maintaining continuity, compliance and control. Keylane offers a stronger, more predictable path to modernization by combining our SaaS platforms with our governed AI solution that connects directly to core data and operations to drive efficiency, automation and innovation. Together with HCLTech, we can help the insurance and pension industry build a future-ready foundation for continuous innovation and growth," said Reynders.
The partnership will launch initially in the United Kingdom, the Netherlands, Denmark, and Norway, four of Europe's most active life and pensions modernisation markets. The companies plan to expand into additional European markets through a joint go-to-market model built on shared insurance domain expertise.
