3i Infotech touches roof on partnering with InsureMO
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3I Infotech is currently trading at upper limit of Rs. 40.02, up by 6.67 points or 20.00% from its previous closing of Rs. 33.35 on the BSE.
The scrip opened at Rs. 33.74 and has touched a high and low of Rs. 40.02 and Rs. 33.46 respectively. So far 2104902 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 54.20 on 12-Sep-2022 and a 52 week low of Rs. 25.93 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 40.02 and Rs. 32.39 respectively. The current market cap of the company is Rs. 674.88 crore.
The Institutions and Non-Institutions held 11.49% and 88.51% stake in the company respectively.
3i Infotech has partnered 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.
The company 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 micro services and web applications.
3i Infotech is a global Information Technology company which provides technology solutions to over 1500 customers in more than 50 countries across 5 continents, spanning a range of verticals.
