Kyndryl, the world’s largest IT infrastructure services provider, and CNP Cyprus, the leading insurance group, announced a five-year agreement renewal.
The company will transform CNP Cyprus’ IT infrastructure into a hybrid cloud environment and support its IT modernisation efforts to enhance customer and employee experience, security and operational resiliency.
The insurance industry is adapting to technological advancements changing how companies are managed as customers, and employees demand a better digital experience.
According to Gartner, global IT spending in the sector is forecast to increase by 7.9% in 2023, reaching $208.4 bln and growing at a compound annual growth rate of 8.1% by 2027.
CNP Cyprus has engaged Kyndryl to design and build a hybrid cloud environment in line with its vision to scale operations and support its growth strategy to gain greater technical and commercial flexibility.
It will also rely on the IT company to create an employee-centric experience using cloud collaboration tools.
This will allow hybrid workers to perform tasks from any location or while on the go, fostering increased productivity, centralised collaboration and communication, and a resiliency and business continuity culture.
“We are constantly seeking innovation to enhance our customer service and foster an exceptional work experience for our employees,” said Guillaume de Winter, Deputy CEO of CNP Cyprus.
“For years, Kyndryl has been our trusted partner, playing a substantial role in helping us mark numerous milestones during our ongoing transformation journey.
“With this renewed collaboration, we have confidence that we will achieve our goals,” said Leonidas Mouskos, Group IT Manager of CNP Cyprus.
Underpinning the overall engagement is a strong focus on security.
Kyndryl will deliver enhanced cyber security and resiliency services, emphasising network security incident management and support.
It will also provide increased support for security controls and processes, ensuring a robust and secure environment for the organisation.
“Digital transformation is an ongoing journey rather than a fixed destination, and it is truly inspiring to witness customers like CNP Cyprus who value continuous innovation,” said Marios Kapiris, General Manager, Kyndryl Cyprus.
“We are proud to be CNP Cyprus’ strategic partner, entrusted with their transformation initiatives, be it their cloud migration, improving the digital workplace, or ensuring robust security measures.”
This new collaboration between CNP Cyprus and Kyndryl is the next phase in a relationship dating back to 2013.
CNP Cyprus selected Kyndryl for its track record as a strategic partner, its long history of running complex transformation projects in the insurance sector and the strength of its alliance partner network.