Bangalore, Sep 24: City-based FirstApex Software Technologies, a specialised IT solutions provider for the insurance sector, today launched two new IT solutions 'FirstGen Neo 5j', a Property and Casuality Insurance Policy Management System and 'FirstRe Neo 5j,' a fully integrated Reinsurance System.
In a release here, FirstApex Chairman Suresh Prabhu said ''in the present business environment the insurance industry in the region is facing challenges in handling high growth rates, distribution, increased competition in a tariff-free environment and increased governance and regulatory pressures.''
'FirstGen Neo 5j,' a MULTI-LINE web-based policy administration system covered the full cycle of insurance operations from Point of Sale to General Ledger. It was a client-centric, flexible and scalable solution and could be deployed in a shorter span.
FirstApex had developed these products using its valuable expertise and experience built up over the last two decades implementing specialised solutions for a variety of insurance companies in the UK, the US, Japan, Germany, France, Italy, Korea, Singapore, the release said.