LTIMindtree Selected for Digital Transformation by US Insurer Aflac, Stock Slightly Dips

18 Aug 2023 , 11:16 AM

Shares of LTIMindtree experienced a minor dip in early trade today as the company announced its selection as the digital transformation partner by Aflac Incorporated, the largest supplemental insurance provider in the United States. At the time of writing, the stock was trading at Rs 5030 in NSE, which is a 1.33% drop from the previous day’s close.

Aflac Incorporated has tapped LTIMindtree to facilitate its digital transformation journey, leveraging the cloud-native services provided by Amazon Web Services (AWS). The company’s mandate involves rearchitecting Aflac’s on-premises applications, which are currently deployed on an outdated platform that is no longer supported.

The migration to AWS is anticipated to enhance Aflac’s security posture, safeguarding it from potential risks while delivering a positive impact on its user community, including agents. In a recent move to bolster its threat intelligence capabilities, LTIMindtree announced a strategic partnership with CYFIRMA. This collaboration enhances the threat detection capabilities of its XDR (Extended Detection and Response) platform, empowering global enterprises to effectively manage and mitigate potential risks and threats.

The financial performance of LTIMindtree remains notable, with the quarter ending in June 2023 reflecting a 4 % increase in net profit, reaching Rs 1,151.50 crore. LTIMindtree’s global presence as a technology consulting and digital solutions company enables diverse industries to reimagine their business models, accelerate innovation, and achieve growth through the strategic utilization of digital technologies.