Banking software company i-flex solutions Ltd, part of the Citi Group, is all set to enter the insurance software sector. The company has to this effect already created a centre of excellence where it is experimenting with the possibility of launching software for the insurance sector.
Although it has been operating on an experimental basis at present, the department was created sometime back to create an infrastructure for developing insurance software products. While its existing software solution for business intelligence can handle some portion of the insurance requirement, it is in the process of creating a software that can handle all aspects of insurance business right from issuing certificates to keeping accounts.
Other enabling software will include programmes for paying premium over the net. The Centre of Excellence has also ventured into e-services, customer relationship management (CRM), payment systems, development and integration services.
N R K Raman, senior vice-president, global sales, said: