3i Infotech, a global provider of IT solutions announced the release of its latest version PREMIA 11j, a comprehensive core Insurance solution for Individual and Group Life business. Premia 11j covers end to end automation of insurance life cycle across customer acquisition, underwriting, re-insurance, policy administration, distribution management, persistency and claims management. The solution is built on a state of the art Java platform & robust Oracle database to deliver a Scalable, Stable, functionally & technologically superior product.
Premia 11j Life Insurance addresses both Conventional and Takaful markets across Asia Pacific, South Asia, Middle East and Africa. The solution provides insurers with unparalleled flexibility to manage product offerings and distribution across a wide spectrum of the sector. Premia 11j provides comprehensive rating engine, inbuilt product configurator, integrated workflow, document management and powerful reporting. Premia interfaces and renders a full and flexible real-time self-service for the community of participants, agents, brokers and sponsors through its Premia E-Portal & Zeus Mobility framework.
Many Insurers are constrained by traditional legacy systems which are expensive, difficult to maintain & need to build multiple surround applications to address their business need. The integrated approach of the system provides a single multi-line platform for insurance companies, improving total cost of ownership. PREMIA 11j Life Insurance provides insurers with a compelling technology advantage in a dynamic business environment where regulatory and social drivers are reshaping the Life Insurance market. As Insurers continue to reinvent their business model to address these opportunities & challenges, a powerful core insurance platform helps in managing the business processes dynamically. The key focus of the solution is to render a full and flexible real-time self-service for the community of participants, brokers and sponsors.
According to Mr.Madhivanan Balakrishnan,MD & Global CEO, 3i Infotech Ltd, “Complexity of business operations and need for the technology modernization are amongst the biggest hurdles to accelerate growth today. Leveraging the single system approach of Premia 11j, life insurance sector can choose to deploy a solution based on business priorities. This ensures simplified transformation journey and faster realization of modernization benefits. This also reiterates our commitment and deep understanding of the Life Insurance vertical across the targeted markets.”
About 3i Infotech
Incorporated in 1993, 3i Infotech (www.3i-infotech.com) is a public global Information Technology company committed to Empowering Business Transformation. A comprehensive set of IP based software solutions (20+), coupled with a wide range of IT services, uniquely positions the company to address the dynamic requirements of a variety of industry verticals, predominantly Banking, Insurance, Capital Markets, Asset & Wealth Management (BFSI). Furthermore it offers solutions to the government, manufacturing, retail, distribution, telecom and healthcare sectors. Among its repertoire of IPR based solutions the flagship products of the Company are Premia, MFund, Orion, Kasle ULS, Amlock and RhymeSight.
The Company is also focused on value added services such as business intelligence & analytics services, infrastructure management services, testing & compliance, application development & maintenance, consulting and its BPO offerings.
The Company, headquartered in Mumbai, India has over 9000 employees in more than 27 offices across 12 countries and over 1500 customers in more than 50 countries across 5 continents.
Disclaimer:
Except for the historical information contained herein, statements in this release, which contain words or phrases such as "will", "would", "expect", "believe", and similar expressions or variations of such expressions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of our principal international markets, the performance of the industry sectors in which our clients are based, the performance of the information technology industry sector world-wide, competition, our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of our growth and expansion in business, technological implementation, changes, advancements, and redundancies, the actual demand for software products and services, or the future potential or feasibility thereof, changes in revenue, income or cash flows, our market preferences and our exposure to market risks, as well as other risks. 3i Infotech undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.
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