NIIT Technologies Limited a leading IT solutions provider to specific industry segments strengthened its offerings to the Insurance industry by announcing a Suite of Insurance Framework Solutions (IFS). These frameworks provide components to rapidly build customizable solutions to support key processes of businesses engaged in Life and Non-Life insurance.

“Our framework solutions dovetail NIIT Technologies’ extensive domain understanding of the Insurance industry with its exceptional technology capabilities”, said Arvind Thakur, CEO of NIIT Technologies. “Leading North American Life Insurance majors have benefited from such framework implementation by NIIT Technologies”, he added.

The new Suite for Life Insurance announced today conforms to Service Oriented Architecture (SOA) making it a flexible, customizable, plug-and-play solution. Elements of the Suite include Utility Services, Interfaces and Business Services. The Company today launched WinRisk - the framework for underwriting which is ACORD compliant.

The Suite for Non-Life insurance builds on NIIT Technologies’ recent acquisition of ROOM Solutions, a UK based technology provider for the Lloyds and London markets. The existing portfolio of ROOM includes solutions for policy administration, risk aggregation, underwriting, financials and reporting. The Suite is now enhanced with the launch of eXact, an improved risk aggregation solution. eXact provides an accurate assessment of exposure to risks across many sectors. It will help Non-Life insurers precisely identify the increased risk exposure during underwriting and also assess their exposure to perils such as, hurricanes, earthquakes and acts of terror.

Speaking at the occasion, Rajendra Pawar, Chairman of NIIT Technologies said, “Such Frameworks create value enhancers and position IT Services companies higher in the value chain. WinRisk and eXact demonstrate the increasing capability of our offerings to the global Insurance Industry.”

- End -

About NIIT Technologies

NIIT Technologies Limited is a global IT Solutions provider, servicing customers across North America, Europe, Japan, Asia and Australia. It offers services in Application Development and Maintenance, Enterprise Solutions including Managed Services and Business Process Management to organizations in the Financial Services, Insurance, Transportation, Retail and Manufacturing segments.

NIIT Technologies Limited is ranked among the Top 20 exporters by NASSCOM and Top 20 Best Employers in a Dataquest–IDC Best Employer Survey.

The Company follows global standards of development, including an ISO 9001:2000 certification, assessment at Level 5 of both SEI-CMMi and People-CMM frameworks and BS 7799 information security management certification.