Syntel Insurance: lost allowances
By Ria Sharma

Over the last ten months, Techgoss had published a series of exclusive reports giving details of all that was happening inside the BPO, KPO and IT divisions of one of India’s most successful IT-ITES companies Syntel.  One report showed how that in the recent past Syntel BPO was overly reliant on couple of key clients. Also, reported were the exits of the CEO and key HR people.

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A Techgoss Tipster tells us

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Allstate Insurance is the biggest client of the Syntel insurance domain.  The biggest group of Developers at the Syntel insurance domain belongs to the module which works on Tenfold Technologies - Universal Application Language. Last month, Syntel abruptly announced that it would stop the Technology Allowance provided to the offshore team. This allowance was given to stop attrition and to retain the key seniors in this technology, even though there is limited value for it in the outside IT world. This allowance was huge - ranging from Rs 90,000 to Rs 2,40,000 per annum.
“

Techgoss note:  The Allstate website describes it as America’s largest publicly held personal lines insurer. A Fortune 100 company, with $133 billion in total assets, Allstate sells 13 major lines of insurance, including auto, property, life and commercial. The Allstate Corporation encompasses more than 70,000 professionals. Last year,  it had an Operating Income of $1,881 million.

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