Polaris to double revenue from insurance vertical

April 14th, 2009 CHENNAI - City-based banking, financial services and insurance software company Polaris Software Lab Ltd will invest $20 million to set up a centre for excellence for insurance near Chennai, a top official said Tuesday. 'The eight-storey centre will house 2,500 employees and will be completed in 18 months,' Arun Jain, chairman and chief executive of Polaris, told reporters at the foundation stone laying ceremony.

January 19th, 2009 CHENNAI - The net profits of Polaris Software rose 94 percent to Rs.371 million for the quarter ended December compared to Rs.191 million in the corresponding period last fiscal. The revenue of the company grew by 32 percent to Rs.3.72 billion during the third quarter as against Rs.2.82 billion in the corresponding period last year.

April 20th, 2009 CHENNAI - Chennai-based Polaris Software Monday said its net profit was up 79 percent at Rs.130.71 crore for 2008-09, compared to Rs.73.22 crore earned the previous year. The company's revenues grew 25 percent to stand at Rs.1,377.95 crore from Rs.1,099.3 logged the fiscal before, it said in a regulatory statement.

July 6th, 2007 Note: This is for Indians who have to travel abroad on short business trips. Which overseas travel insurance company do you use for short trip? I used New India Assurance before, but I find their policy of payment after the expenses have been paid very inconvenient especially if you are for short periods and do not have the time nor energy to pursue your claim afterwards.

April 20th, 2009 NEW DELHI - India's business process outsourcing (BPO) industry will double its revenues in less than two years despite the economic slowdown and protectionist measures of western countries, a report by analyst firm Gartner said Monday. The top 20 India-centric BPO service providers accounted for $4 billion in revenue in 2008, representing 5 percent of the $80-billion revenue of the top 150 BPO companies in the world.

August 28th, 2009 Solera sees fiscal 2010 earnings, revenue gainsSAN DIEGO — Solera Holdings Inc., which provides software and services for the auto insurance claims industry, said Thursday it expects to earn an adjusted profit of between $1.76 per share and $1.83 per share for the fiscal year 2010. Analysts polled by Thomson Reuters forecast a profit of $1.82 per share for the fiscal year ending in June.

July 20th, 2005 Dear terrorists, new firman issued, Kill 10, take a branded T-shirt and be best terrorist in the group. Jihad begins from July 18-20.

July 12th, 2009 KOCHI - The Indira Gandhi National Open University (IGNOU), The Advanced Center for Informatics and Innovative Learning (ACIIL) and IBM India have signed an MoU that would re-invent IT education in the country. As a part of the MoU, IGNOU and IBM India would partner each other skills to students on IT standards in emerging verticals like healthcare, financial services and retail that have a significant growth potential, in addition to providing open source software skills and open standards, with live projects.

August 28th, 2009 Solera Holdings posts fiscal 4Q profitSAN DIEGO — Solera Holdings Inc., which provides software and services for the auto insurance claims industry, said Thursday it posted a fiscal fourth-quarter profit as revenue gains in the company's automotive recycling unit offset declines in other areas. The company earned $11.8 million, or 17 cents per share, compared with a loss of $21.6 million, or 34 cents per share, a year ago.

August 13th, 2009 AIG reaches deal to sell Indian IT unit to MphasiSNEW YORK — American International Group reached a deal to sell another unit on Wednesday. The battered insurance giant will sell its AIG Systems Solutions Pvt.

June 30th, 2009 CHENNAI - The city-based software company Saksoft Limited Tuesday declared its 2008-09 net profit was up by 333 percent though its topline remained flat compared to the previous year. "In spite of tough market conditions, the company closed last fiscal with a turnover of Rs.120.48 crore (Rs.1.20 billion) and a profit of Rs.9.63 crore as against Rs.120.10 crore and Rs.2.22 crore, respectively, in the previous year," managing director Aditya Krishna told reporters here Tuesday.

February 16th, 2009 NOIDA - Two suspects have been arrested from Kolkata for the Rs.4 million fraud by a BPO employee who allegedly diverted insurance funds into accounts opened in Britain under false names, the police said Tuesday. The latest arrests were made a month after key accused Edward Burns, senior executive of a leading BPO firm here, was arrested Jan 17.

February 16th, 2009 NOIDA - Two suspects have been arrested from Kolkata for the Rs.4 million fraud by a BPO employee who allegedly diverted insurance funds into accounts opened in Britain under false names, the police said Tuesday. The latest arrests were made a month after key accused Edward Burns, senior executive of a leading BPO firm here, was arrested Jan 17.

June 16th, 2009 BANGALORE - Nucleus Software Exports Ltd has tied up with Mexican consulting and distribution firm Praxis to market its software products in the Latin American country, the leading IT products firm said Tuesday. As our channel partner, Praxis will distribute our software products in the banking, insurance and financial services (BFSI) sector in the Mexican market and enable us to strengthen our presence in Latin America, Nucleus global sales head Niraj Vedwa said in a statement.

September 9th, 2009 BEIJING - The Chinese government has pledged more aid from the country's financial institutions to boost its outsourcing industry, officials said Wednesday. In a statement posted on the website of the central bank Wednesday, the government urged the banks to develop more policies and credit products tailored for the outsourcing business, especially for firms in the 20 pilot cities for the industry, including Beijing, Tianjin, Chongqing and Shanghai.