3i Infotech, a global provider of IT solutions and the fourth largest Indian Software Product company*, today announced that it has been named a “Traction Index” leader in a recent report from research and advisory firm Celent, based on the analysis of key software vendors for the insurance industry in North America.
3i Infotech was also named a leading provider in the Full Policy Administration Systems category, based on the number of deals the company inked in 2005 and 2006.
"Leaders in our Traction Index are demonstrating strong market momentum among insurers, which gives them the kind of experience that many carriers are looking for", says Craig Weber, Senior Analyst with Celent and author of the report. The Traction Index is a weighted score that measures the volume and type of deals that software companies made during 2005 and 2006.
"The leading providers named in the report are active in the insurance vertical," said Weber. "That gives them excellent insights into the unique needs of insurance carriers,” Weber added.
With a long-term focus on the insurance market, 3i Infotech has augmented its insurance software offering PREMIA™ to deliver an integrated solution for insurance companies around the world.
Commenting on the achievement, Mr Hari Padmanabhan, Deputy Managing Director, 3i Infotech, said “Over the last five years in particular, we have invested significantly in creating a solution that can effectively address insurance companies the world over, including the US. This is of particular interest to insurance companies who want to migrate to or invest in a technology platform that will enable them to compete effectively in the rapidly changing insurance market. This Celent report is an acknowledgement of the US market’s acceptance of PREMIA”.
Mr Padmanabhan further added “With over 100 customers globally, PREMIA enjoys a strong patronage of insurance companies/customers across five continents. This gives us great encouragement to work with greater vigour to attain our goal of industry leadership in this space.”