NIIT launches 'WinRisk' and 'eXact' frameworks for insurance

Mumbai, Feb 8 (UNI) With a view to provide components to rapidly build customizable solutions to support key processes of businesses engaged in life and non-life insurance sectors, NIIT Technologies Limited today launched a suite of insurance framework solutions (IFS) under the brand names of 'WinRisk' and 'eXact'.

''We're expecting that at least 10 per cent of our revenues should come from these frameworks'', and emphasised that these solutions will help the insurance firms spend less on the manpower, the company's CEO Mr Arvind Thakur told UNI on the sidelines of his media briefing.

While 'WinRisk' will provide the framework for underwriting which is 'accord' compliant, the other framework , 'eXact' is an improved risk aggregation solution.

Making a formal announcement about it before the media here, Mr Thakur said ''Our framework solutions dovetail NIIT Technologies' extensive domain understanding of the insurance industry with it's exceptional technology capabilities.'' Talking about the key markets his company was looking at for these framework solutions, he said ''We're looking at countries like north America, Europe and of course, Asia.'' The new suite for life insurance 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.

Replying to a media query about the features of the new frameworks, chairman of NIIT Technologies, Rajendra Pawar, said that ''These solutions will help the insurance firms to make their operations less costlier and less calendar time for providing services to their customers.

Talking about the revenues being earned by his company he said that ''While 44 per cent of our earnings come from BFSI segment, it is the insurance sector which comprises 27 per cent of our earnings.'' The suite for life and non-life insurance builds on the company's recent acquisition of UK-based firm 'ROOM Solutions and DEI (an American-based firm) some three years ago.

UNI