Polaris to set up centre for insurance solutionsApril 14th, 2009 - 7:26 pm ICT by IANS
Chennai, April 14 (IANS) City-based banking, financial services and insurance software company Polaris Software Lab Ltd will invest $20 million to set up a centre for excellence for insurance near Chennai, a top official said Tuesday.
“The eight-storey centre will house 2,500 employees and will be completed in 18 months,” Arun Jain, chairman and chief executive of Polaris, told reporters at the foundation stone laying ceremony.
Last October, Polaris acquired SEEC Inc, a US-based insurance technology company, and now the company provides services to global and Indian insurers like New York Life, ICICI Prudential, American International Group (AIG) and IDBI Fortis.
According to S.R. Ramaswami, chief executive of Intellect SEEC Inc, the company will develop simple service-oriented architecture (SOA)-based programmes for the Indian insurance sector.
Polaris has established centres of excellence for investment banking (Hyderabad), retail banking (Chennai) and corporate banking (Mumbai).
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- Polaris launches new insurance claims processing solution - May 21, 2012
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- Polaris launches new liquidity monitoring solution for banks - May 31, 2011
- Polaris Software eyes $100 mn revenue by 2016 - Aug 02, 2011
- Polaris Software bottom line grows by 46 percent - Jul 15, 2010
- Axis Bank deploys Polaris' software solution - Oct 26, 2009
- Polaris to double revenue from insurance vertical (Lead) - Jan 20, 2009
- Polaris Software proposes 90 percent dividend payout - Apr 28, 2011
- Polaris Software to invest Rs.350 mn for expansion - Dec 21, 2008
- Polaris to acquire Laser Soft for Rs.52 crore - Oct 15, 2009
- Aditya Birla Minacs to market Epicor's ERP solutions - Jun 14, 2011
- ICRA Techno Analytics to pick up majority stake in US firm - May 08, 2012
- US firm Ciber unveils global delivery centre in Bangalore - Oct 13, 2011
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