Through this partnership, OutsideIQ will offer underwritingIQ to carriers, enriching risk information and providing actionable insights for improved underwriting, said Pranav Pasricha, CEO, Intellect SEEC - insurance business, Intellect Design Arena.
Intellect SEEC, the provider of insurance software firm from Intellect Design Arena (a Polaris Group company) on Monday announced an exclusive partnership with OutsideIQ, a global provider of advanced risk analytics solutions for the insurance market, through which it hopes to bring better risk analysis to insurance companies, said Pranav Pasricha, CEO, Intellect Seec - insurance business, Intellect Design Arena.
Through this partnership, OutsideIQ will offer underwritingIQ to carriers, enriching risk information and providing actionable insights for improved underwriting. UnderwritingIQ will also be integrated with Intellect SEEC's underwriting workstation, he said in an interview to CNBC-TV18.
The company is making significant investments into engineering. Going ahead, the firm will fund its investments from cash reserves and operating profits, Pasricha added.
Below is the verbatim transcript of the interview:
Anuj: If you could tell us what is this partnership all about and what kind of revenue potential does it have for the listed company?
A: Intellect Design is one of the world's leading technology company focused on the financial services base. We have a very extensive set of products that cover banking, insurance, wealth management and other allied financial services. OutsideIQ is a leading edge risk analytics firm it is a relatively new firm which is based in Toronto, Canada. They have a very unique product that they have launched about a year back which does deep web search.
Basically the product has a potential to very significantly improve the quality of underwriting and claims management in the insurance industry. It also has some very fundamental applications in things like anti-money laundering and other areas such as credit worthiness assessment and the banking sector.
This is a partnership where we are going to embed our technology and our products together and we are going to be commercialising the joint offerings through out the world.
Intellect Desig stock price
On January 13, 2015, at 14:13 hrs Intellect Design Arena was quoting at Rs 122.75, down Rs 7.2, or 5.54 percent. The 52-week high of the share was Rs 134.40 and the 52-week low was Rs 69.00.
The company's trailing 12-month (TTM) EPS was at Rs per share as per the quarter ended January 2015. The stock's price-to-earnings (P/E) ratio was 0. The latest book value of the company is Rs per share. At current value, the price-to-book value of the company is 0.00.
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