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Synnex Corporation: Concentrix Extends Relationship with Sagicor Financial Corporation

Media Contact:

Clint Williams, Concentrix
770.883.2551 |

Concentrix Extends Relationship with


Financial Corporation

Carrier uses GIAS for new business in the Caribbean

FREMONT, California


Oct. 7, 2015


Barbados-based Sagicor Financial Corporation (SFC) has extended the use of the Concentrix Insurance Solutions (Concentrix) GIAS platform to process new individual life insurance business in select Caribbean countries. The move allows Sagicor to explore new ways to configure its life insurance businesses across its various business units. "We have been using GIAS successfully for some time in our U.S. operations,
but this is the first time we took advantage of the platform to run our
business outside of the U.S., specifically in Barbados, Trinidad, and across
the Eastern Caribbean countries," said Ron Blitstein, Executive Vice
President and Group Chief Information Officer at SFC. "What's especially
impressive is the way we can bring new products on stream faster."

"Sagicor can now introduce new products faster across a landscape of various
currencies and country-specific regulations," Blitstein continued. "With
GIAS, we are able to offer new insurance products to our customers across the
Caribbean region in a matter of weeks, not months, as it was with the legacy
system." Blitstein added, "The go-live date and the dates thereafter were a
'non-event,' during which we did not experience any service interruptions."

For Sagicor, which does business across the Caribbean, Latin America, and the
United States, GIAS enables the company to consolidate life insurance
products onto a single platform with common business processes, security,
client information, accounting and commission capabilities. Beyond these
common controls, GIAS helps the company account for insurance regulations,
currency systems, taxes and other factors that are unique to each country.

"Through GIAS, we have an upgrade path and the partnership and responsiveness
of Concentrix made the transition to a new system easy," said Teri Townsend,
Sagicor Vice President of Technology. "We attribute the implementation
success to the Sagicor and Concentrix project teams' working relationship. A
significant outcome for Sagicor is that GIAS enabled us to streamline and
modernize the business.

"For Sagicor," she added, "speed to market is essential. We expect to develop
and introduce at least twice as many new products in a year compared to what
we could introduce prior to GIAS."

"The GIAS implementation for Sagicor reflects our mission to enable our
client's growth and business outcomes through the powerful and
functionally-rich business solutions and services we provide," said Robert
Marino, Concentrix Insurance Solutions sales leader. "Our goal is to assist
clients to act on growth initiatives and customer experience enhancements to
reach the desired business outcomes by transforming the business."

About Sagicor Financial Corporation

Sagicor is a leading provider of financial services in the Caribbean.
Operating in 23 countries, including the USA and Latin America, Sagicor has
total assets of US $6.2 billion, and $774 million in capital. The Sagicor
Group offers a wide range of products and services including life insurance,
annuities, banking and group and individual health. Sagicor is a
widely-held publicly- traded company and is listed on the stock
exchanges of Barbados, Trinidad and Tobago and London.
About the Concentrix GIAS Technology Platform
Genelco Insurance Administration Solution(TM) GIAS is a next-generation,
Java-based strategic solution for life and health insurance carriers. It has
robust, component based administrative and claims processing functionality, a
world class business rules engine, SOA and Web services capabilities. It is a
Web-based application that is platform and database independent. It has been
put into production in multiple environments in the US and China, and the
Caribbean, and can be deployed in a license, SaaS or full third-party
administration model.

About Concentrix
A wholly owned subsidiary of SYNNEX Corporation (NYSE: SNX), Concentrix is a
leader in high-value global business services. It partners with its clients
to deliver end-to-end customer engagement services, technology innovations,
analytics, process optimization, and business improvements. The global
business services firm transforms the customer experience, and streamlines
front and back office and industry-specific processes to provide the highest
value from every customer interaction. Based in 24 countries with a staff of
more than 54,000 who speak 40+ languages, Concentrix offers industry
expertise in 10 industries: Banking&Financial Services,
Healthcare&Pharmaceutical, Insurance, Technology, Consumer Electronics,
Retail&e-Commerce, Government&Public Sector, Media&Communications, Automotive
and Travel, Transportation&Tourism. For information and recent news, visit


SYNNEX Corporation (NYSE:SNX), a Fortune 500 corporation, is a leading
business process services company, optimizing supply chains and providing
outsourced services focused on customer relationship management. SYNNEX
distributes a broad range of information technology systems and products, and
also provides systems design and integration solutions. Founded in 1980,
SYNNEX Corporation operates in 25 countries around the world. Additional
information about SYNNEX may be found online

Safe Harbor Statement

Statements in this release that are forward-looking, such as platform and
service features and capabilities and the general success of the
collaboration, involve known and unknown risks and uncertainties which may
cause the Company's actual results in future periods to be materially
different from any future performance that may be suggested in this release.
The Company assumes no obligation to update any forward-looking statements
contained in this release.

Copyright 2015 SYNNEX Corporation. All rights reserved. SYNNEX, the SYNNEX
Logo, CONCENTRIX, and all other SYNNEX company, product and services names
and slogans are trademarks or registered trademarks of SYNNEX Corporation.
SYNNEX, the SYNNEX Logo, and CONCENTRIX Reg. U.S. Pat.&Tm. Off. Other names
and marks are the property of their respective owners.



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Synnex Corporation via Globenewswire


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