Source:www.Indiaprwire.com

US-based IT major Fiserv Inc. Tuesday announced its plans to increase its headcount to 5,000 in India within the next two years.

The company’s wholly owned Indian subsidiary Fiserv India, which was established in 2005 as part of the company’s global expansion strategy, has recruited 1,000 employees so far.

‘Fiserv’s globalisation strategy aims at tapping global resources and world class talent, to help our customers effectively leverage the power of technology, and deliver cutting edge products and services in the extremely competitive financial services industry, to enable our customers to achieve best-in-class results,’ Arun K. Maheshwari, president, Fiserv India said in a statement.

‘We are currently adding 100 new employees a month in India and plan to accelerate that rate. The headcount growth is a testament to the strong support from the parent company as well as of the strong delivery capabilities of the Indian employees,’ he added.

The $4.5 billion Fiserv Inc. is a Fortune 500 company, which provides information management systems and services to the financial and insurance industries.

Some of its key services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions.

Source: www.indiaabroad.com
Sometime this year, leading international financial services company - Prudential, will be hiring a minimum of 10,000 new staff in India for its joint venture insurance operation.

Shikha Sharma, Chief Executive - ICICI Prudential Life confirms, saying that she expects to have a workforce of 27,000 by March 2008, as compared to 16,300 last year and 7,700 two years ago.

Set up six years ago, ICICI Presidential Life, a joint venture between Prudential and ICICI, India’s second-largest private bank, holds a 26% stake in it.

Sharma, who has pioneered insurance products for diabetes argues that India’s huge untapped market means that ICICI Prudential Life can maintain a dizzying compound annual growth rate of more than 100% for the next four to five years. Eying the health-care sector, the main target for ICICI Prudential Life is India’s growing ranks of affluent people.

“We expect well in excess of 100-million households to have disposable income by 2010,” says Sharma, though the current existing market touches about 30-million. Whereas, Prudential’s customers in UK number about 7-million, in India at present, it has only 4.5-million policyholders.

Sharma believes healthcare insurance is the ripest growth market in a predominantly private sector market, in which government tariff controls were lifted only last month. As well, car insurance also offers an opportunity, according to her, taking in view the state of India’s accident-riddled road network.