Covansys enters federal market
- By Gail Repsher Emery
- Feb 17, 2004
Covansys Corp. has entered the federal IT marketplace with a five-year, $26.5 million contract from the Federal Emergency Management Agency, officials of the Farmington Hills, Mich., company announced today.
FEMA's National Flood Insurance Program awarded Covansys a contract to provide a Web-based solution and business process outsourcing services that will improve the administration of the federal government's flood insurance programs.
Over the last 19 years, the company has provided solutions to 47 states in the areas of health and human services, public retirement, public health, motor vehicle services, unemployment insurance and homeland security. More than 25 percent of the company's $378.8 million in 2003 annual revenue comes from state and local government clients, according to the company.
"Covansys made a strategic decision last year to begin exploring opportunities in the rapidly growing federal marketplace," said Martin Clague, president and chief executive officer of Covansys. "We ? felt that leveraging our experience on the federal level would be a natural ? extension of our abilities."
Under the terms of the contract, Covansys will provide its proprietary flood services solution, FloodConnect, and act as the exclusive servicing agent for the NFIP. The NFIP provides flood insurance protection for property owners in return for local government commitment to sound flood plain management and related flood disaster mitigation efforts.