Polaris to set up centre for insurance solutions

January 19th, 2009 CHENNAI - The city-based banking software major Polaris Software Lab hopes to double its revenue to $40 million next year from insurance vertical following the acquisition of US-based insurance product and component services player SEEC Inc., said a top company official here Tuesday. Last November, the company's Singapore subsidiary acquired SEEC for around Rs.370 million (Rs.37 crore).

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.

December 28th, 2008 NEW DELHI - IT solutions provider Sun Microsystems India and Indian Institute of Technology (IIT) Delhi are launching an e-governance centre on the IIT campus here to focus on development of non-proprietary software. The Sun-IIT Delhi Centre of Excellence is an outcome of a memorandum of understanding (MoU) signed between the institute and the IT company in September 2006.

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.

March 26th, 2009 CHENNAI - Hinduja group's business process outsourcing (BPO) arm Hinduja Global Solutions will manage mobile telephony player Sistema Shyam Teleservices' customer care centre. The mobile telephony player launched its Tamil Nadu operations here Thursday and plans to scale it up across the state.

May 28th, 2009 BANGALORE - Global software major Wipro Technologies has set up a virtual innovation centre for testing services on Second Life, the popular virtual world, the IT bellwether said Thursday. The innovation centre, a replica of the original lab at our campus in the electronics city will provide a one-stop virtual view of our Internet Protocol (IP)-powered solutions, the company said in a statement.

February 26th, 2009 BANGALORE - IT infrastructure solutions and services firm Frontier Business Systems has set up a $4-million (Rs.200 million/Rs.20 crore) green data centre here to expand its operations across the country, the company said Thursday. 'The data centre's green virtualisation solutions will enable enterprises to reduce cost while improving business service availability, agility and performance,' Frontier chief executive Ravi Verdes said in a 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.

August 20th, 2009 NuGrowth buying subsidiary of State Auto FinancialCOLUMBUS, Ohio — Software sales and development company NuGrowth Solutions has inked a deal a buy a subsidiary of State Auto Financial Corp., a property and casualty insurance holding company. Terms of NuGrowth's deal to acquire Strategic Insurance Software were not disclosed Wednesday.

February 8th, 2009 BANGALORE - Tata Consultancy Services (TCS) will design and develop the next-generation fighter jet Gripen for the Swedish aerospace major Saab, a senior official of the IT bellwether said here Monday. Saab, whose strike fighter Gripen is in race for the Indian Air Force (IAF) order to induct 126 medium multi-role combat aircraft (MMRCA) in its fleet, has set up an aeronautical design and development centre with TCS in Bangalore for the multi-million, multi-year contract.

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.

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.

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 14th, 2009 HYDERABAD - Bodhtree Consulting, a leading consulting and technology provider, has forged a strategic software partnership with CompanyStore.IN for its centre of excellence (CoE) for SaaS and Cloud computing. CompanyStore.IN is a well known logo merchandising company that leverages technology to support marketing and branding for some of the biggest names of the industry.