Contract Details
Seshaasai Technologies Limited has secured a three-year contract with a leading public sector life insurance company for secure printing and handling of policy bond kits along with associated logistics services. The contract was awarded through a competitive tendering process where Seshaasai emerged as one of the two successful bidders and secured a significant share of the customer's business under the tender.
Revenue Model
The company's revenues under this engagement will accrue in line with actual allocations and volumes executed over the three-year contract period. This indicates a variable revenue model based on service utilization rather than a fixed contract value.
Relationship Context
This contract represents a continuation of Seshaasai's relationship with the customer, as the company has been providing these services as the service provider for the past two years.
Management Commentary
Pragnyat Lalwani, Managing Director of Seshaasai Technologies, commented: "We are pleased to continue our association with one of the country's leading public sector life insurers through this significant three-year contract. This win further strengthens our position in delivering secure, scalable and technology-led communication and fulfilment solutions to the BFSI sector."
Company Background
Seshaasai Technologies Limited is a technology-led, multi-location solutions provider with a strong focus on the banking, financial services, and insurance (BFSI) sector. The company specializes in secure payment solutions, omnichannel communication, and fulfilment services, offering innovative, scalable technologies tailored to client needs. Their facilities are accredited by global and national standards including NPCI, PCI, Global Payment schemes and IBA for secure manufacturing of payment cards, cheques, and data handling.