US-based life insurer Massachusetts Mutual Life Insurance Company (MassMutual) has announced the opening of its Global Capability Center in Hyderabad’s financial district, on Monday.
The opening of MassMutual's first centre outside of the United States marks the 170-year old company's entry into India.
MassMutual’s plans, based on projections, are to invest over Rs 1,000 crore in its Hyderabad centre.
“The centre is positioned to attract global talent in technology, engineering, and research and development, adding to continued hiring in these areas by the company in the US,” a press release said.
With over 300 associates and leadership in all functional areas on- board, MassMutual India is actively hiring for multiple roles in the areas of application development and support, cloud engineering, data science and analytics. MassMutual's Hyderabad hiring will supplement the company’s existing US-based team. It currently employs over 6,000 people in the US.
Ravi Tangirala, head of MassMutual India and Arthur Riel, head of Core Technology at MassMutual interacted virtually with Telangana IT minister KT Rama Rao and senior officials.
MassMutual team has engaged in conversations with the Telangana government since its first visit here in October 2019. The company evaluated several global cities before choosing Hyderabad.
“Hyderabad has witnessed several marquee investments in recent times, notwithstanding the prevalent pandemic. MassMutual, a 170-year old top Fortune 500 organization and a world leader in insurance and finance industry establishing its first Global Capability Center outside the USA here is a testimony to our investor friendly policies,” Rao said.
MassMutual’s digital evolution is underway with a focus on meeting the current and future customers’ needs. It chose Hyderabad following a market analysis indicating a strong talent pool, favorable infrastructure and easily accessible enablement services, the release said.
“Opening a Global Capability Center in India will help us remain on the cutting edge of technological advancement given the high-level of expertise in this market,” said Tangirala. “We look forward to growing our global team in Hyderabad in order to help MassMutual retain its standing as an industry-leading innovator.”