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, re-insurance, policy administration, persistency and distribution management, The solution is built on a state-of-the-art Java platform & robust Oracle database to deliver a scalable & 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 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, & 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. The powerful core insurance platform assists the insurers in managing the business processes dynamically. The key focus of the solution is to render a full and flexible real-time self-service to 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. “
Madhivanan also announced that Mr. Charanjit Attra, ED & Global CFO would be responsible for the strategic growth and business development of the Middle East & Africa region. The Company has also appointed Mr. Ashish Dass as SVP & Region Head for Middle East & Africa under the leadership of Mr. Charanjit Attra. The Company is confident that this leadership will enhance consistent growth and infuse leadership capabilities with innovative strategies spanning across various projects in the Middle East & Africa region.