Gradatim launches India's first MicroInsurance Platform - MF-Insure
MF-Insure to redefine the micro-banking space
-- Gradatim IT Ventures, one of the leading players in the Micro-Finance industry, announced the launch of MF-Insure, an on-demand micro-insurance technology platform which combines IT Infrastructure and Back Office Services, and delivered as a Business Process Utility (BPU) on a ‘Pay-Per-Use’ Pricing Model. This platform is all set to redefine the micro banking and micro-insurance segment in the country. MF-Insure is proficient in handling products for all lines of insurance business – Life, Health, Non-life and Pension. MF-Insure will enable reliable services to the insurance providers and their shareholders.
Speaking on the occasion, Mr. Prakash C V, CEO, “At Gradatim, it is our constant endeavor to develop innovative and user-friendly IT platforms in order to simplify Insurance operations. MF-Insure is a pioneer platform and is expected to play a very critical role by simplifying and consolidating business operations, reducing cost, improving turn around times, and other operational advantages, thus enabling insurance providers to offer affordable insurance services to low-income groups.”
MF-Insure platform caters to Insurance companies, Agents, Insurance Brokers, MFIs, Banks, NBFCs and other institutions offering micro-insurance and guarantees standardization of processes, transaction and collaborative infrastructure, and reduced cost due to multi-tenant operations.
“Micro Insurance as a sector is witnessing tremendous growth across the globe. In India, however the penetration in the micro insurance segment is little over 2%. In light of the tremendous potential in the sector, Insurers are gradually and constantly introducing new products. Microinsurance is essentially a low-price, high-volume business and its success and market sustainability depends on keeping the transaction costs low. Gradatim’s MF-Insure platform provides a complete End-to-End platform / solution to address the Micro-Insurance sector", said Mr. K.L.Balasubramanian, Director – Business Development, Gradatim.
Notes to Editor
About Gradatim
Established in early 2007, Gradatim is a privately held IT company with operations in India, Australia & Singapore. Robust industry strength technology platforms are the underpinning of Gradatim's delivery model. These platforms, built using principles of SOA, encapsulate business functions into well defined modules. These modules can be customized in quick time for a customer. In addition, Gradatim can run business processes on behalf of the customer owing to its ability to provide infrastructure management services. This makes Gradatim capable of managing parts of customer’s business in an efficient and cost effective manner. Gradatim delivers business Utility Services using a Hosted technology model. Solutions are built from ground up on Service-oriented Architecture, utilizing a common set of code and data definitions consumed by customers in a one-to-many model. Gradatim's ESP services are specific to offering business expertise rather than pure-process expertise - combining deeper understanding of the targeted business process.