3i Infotech launches India’s first IBX

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3i Infotech launches India’s first IBX

3i Infotech launches India’s first Insurance Broking Exchange

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Commenting on the launch, Mr. Bharat Boda, President, Insurance Brokers' Association of India said, "The Indian insurance industry is poised for tremendous growth with the anticipated deregulation. This initiative by 3i Infotech is a step in the right direction, as it will help in future market growth, while providing consumers with customized insurance solutions. Additionally, it will also provide an impetus to insurance brokers - including corporates and individuals - who will now have access to a cost effective IT infrastructure and an insurance industry knowledge base for increased business agility."

He added, "IBAI has long been involved in IT initiatives for the Indian insurance industry. With the launch of Premia IBX, we are glad to enlist the support of 3i Infotech, a renowned player in the BFSI domain and specifically in the insurance vertical."

Elaborating on the rationale for the launch of Premia IBX, Mr. Hari Padmanabhan, Dy Managing Director, 3i Infotech said, "With the addition of many new Insurance companies in India and the numerous products offered by them, currently Indian insurance brokers face a daunting task of servicing a rapidly expanding customer base. Through Premia IBX, we aim to bridge the information gap between brokers, insurance companies and consumers by facilitating information assimilation and provide customer centric insurance solutions in a competitive market."

"The exchange will enable brokers to have access to a new technology solution without the related concerns about infrastructure and its management. The launch of Premia IBX will empower the insurance industry at large and thus provide the much needed impetus to the insurance market. 3i Infotech's technology edge will power the insurance industry's quest of being an interconnected and agile business community across the Insurance value chain" he added.  

Sourced From: Text 100 Public Relations Consultancy