Newgen Software jumps on forging transformative partnership with InsureMO
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Newgen Software Technologies is currently trading at Rs. 735.25, up by 12.70 points or 1.76% from its previous closing of Rs. 722.55 on the BSE.
The scrip opened at Rs. 729.20 and has touched a high and low of Rs. 745.00 and Rs. 729.20 respectively. So far 7137 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 900.00 on 17-Jan-2024 and a 52 week low of Rs. 217.53 on 23-Mar-2023.
Last one week high and low of the scrip stood at Rs. 767.25 and Rs. 688.00 respectively. The current market cap of the company is Rs. 10370.27 crore.
The promoters holding in the company stood at 55.07%, while Institutions and Non-Institutions held 24.95% and 19.98% respectively.
Newgen Software Technologies and InsureMO have formed a transformative partnership, merging Newgen’s specialized underwriting and policy administration solutions with InsureMO’s cutting-edge insurance platform. The integration promises end-to-end automation, from application to issuance, with AI-led underwriting on NewgenONE low-code platform.
InsureMO, processing over $25 billion in Gross Written Premium (GWP) annually for 300+ carriers across 40+ countries, offers a comprehensive suite of pre-built products and APIs. InsureMO’s capabilities enable rapid product creation and seamless connectivity to major placement platforms like PSC, Ebix, Steadfast and the London market, expanding market reach. This alliance aims to provide speed and flexibility, empowering clients to introduce new products swiftly and adapt to market changes seamlessly.
Newgen Software Technologies is a software products company offering a platform that enables organisations to develop applications addressing their strategic business needs.
