EXACT® - empowers Underwriters to manage exposure and reduce potential losses
Sydney, October 26th 2012, Friday :- Coforge Ltd. (NSE: Coforge), a leading global IT solutions organization, today announced the launch of EXACT® Advantage for APAC and ANZ market. EXACT® Advantage is a proven risk exposure management product in use by leading global insurance and reinsurance companies across Europe. It covers all lines of business with its key focus being commercial and specialty insurance markets.
EXACT® Advantage allows underwriters access to relevant and accurate information to assess exposures pre and post contract bind. It brings together the power of a market-leading risk aggregation engine and an advanced global mapping interface utilising the latest Geographical Enterprise Systems (GIS) technology to assess and monitor risk exposure across multiple lines such as energy (onshore and offshore) and property.
Commenting on the launch, Mr. Arvind Mehrotra, President, Asia Pacific, Coforge, said, “In the year 2011 insurers have already seen 63% increase of loss load with worldwide economic losses amounting to USD 370 Billion and insured losses of about USD 116 Billion . The earthquakes in Japan and New Zealand, for example, and hurricanes Irene and Katia in the Atlantic caused tragic loss of life as well as serious damage to property and essential infrastructure. EXACT® Advantage provides a central resource with powerful capabilities for managing exposure across a broad range of business lines, all of which might be inter-related in a single portfolio of business”.
EXACT® Advantage provides Underwriters a structured risk exposure management across all business lines, and provides rapid analysis of disaster locations anywhere in the world. The application provides precision tracking and is a powerful tool for proactively assessing the susceptibility of underwriting portfolios to catastrophic events.
Coforge is a leading IT solutions organization, servicing customers in North America, Europe, Middle East, Asia and Australia. It offers services in Application Development and Maintenance, Managed Services, IP Asset or Platform Solutions, and Business Process Outsourcing to organizations in the Financial Services, Travel & Transportation, Manufacturing/Distribution, Healthcare and Government sectors. The Company adheres to major global benchmarks and standards, having secured the ISO 9001:2000 certifications and the ISO: 27001 Information Security Management accreditation. Coforge also follows global standards of development. It has been assessed at Level 5 of SEI CMMi version 1.2. Coforge Business Process Outsourcing conforms to the highest quality standards such as COPC and Six Sigma. Its data centre operations are assessed at the international ISO 20000 IT management standards.
For further information, please visit www.coforgetech.com
Certain statements in this release are forward-looking statements. The business involves various risks, and uncertainties that could result in the actual results to differ materially from those indicated here. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.