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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.
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