3IINFOLTD.NSE 3i Infotech Ltd.

3i Infotech announced its partnership with InsureMO, a world leading Insurance Middleware Platform. InsureMO collaborates with various sectors, driving monumental changes specifically designed for the insurance industry. This Partnership will help 3i Infotech to expand its services offering with implementation capabilities for InsureMO platform which modernize & transform the insurance providers offerings without changing their core solutions. The InsureMO platform serves as a digital insurance middle office platform for a plethora of entities, including insurers, brokers, agents, channels, insurtechs, and startups. This positions them to enable use cases for any product and channel, granting insurance carriers the capability to not only modernise their systems but to also strategize better in terms of distribution. 3i Infotech has long been a dominant player in the IT domain, catering to a broad spectrum of clients. This partnership will enhance and accelerate the transformative journey, synergizing the competencies of both companies. By doing so, the customers will witness reductions in underwriting operational costs, quicker insurance product rollouts, and a streamlined DevOps cycle for the creation of microservices and web applications.

This partnership allows 3i Infotech to expand its services by implementing the InsureMO platform, which modernizes and transforms insurance providers offerings without changing their core solutions. InsureMO serves as a digital insurance middle office platform for various entities in the insurance industry. This partnership will enhance the transformative journey for both companies and result in reduced operational costs, faster insurance product rollouts, and streamlined DevOps cycle for creating microservices and web applications.Rishi Agrawal, chief technology officer, 3i Infotech remarked, As 3i Infotech embarks on a promising phase of growth, finding partners who resonate with our vision is paramount. With InsureMO, we believe we have found the ideal collaborator. Leveraging their advanced platform and our expertise, our goal is to introduce a pioneering and transformative digital PaaS solution tailored for enterprises.Mumbai-based 3i Infotech provides information technology services and software solutions. The company operates through three segments: Enterprise Services, Professional Services, and Digital Business Services, offering a wide range of services including consulting, automation, analytics, cybersecurity, and more.In the quarter ended June 2023, 3i Infotech reported a net loss of Rs 15.59 crore, which is higher than the net loss of Rs 1.52 crore in Q1 June 2022. However, there was a increase in sales, with a YoY growth of 8.46% to Rs 194.38 crore in Q1 June 2023.

3i Infotech announced that the Annual General Meeting (AGM) of the company will be held on 25 September 2023.

The share touched a 52-week high of Rs 54.20 and a 52-week low of Rs 25.93 on September 12, 2022 and March 28, 2023, respectively.

This partnership aims to establish a path-breaking AI lab at SRM Valliammai Engineering College in Chennai, the company said.