The Telegraph
Monday , March 24 , 2014
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Mindtree focus on finance

Growth path

Calcutta, March 23: Mid-cap IT company Mindtree Ltd will focus on solutions for digital, data and business transformation in the banking, financial services and insurance (BFSI) segment.

The company has developed commercial lending solutions for both the domestic and global markets with an aim to align to customer needs, trends and demands within the industry.

Mindtree expects catastrophic exposure assessment to offer a huge opportunity to the company in India. The company sees potential in the analysis of exposure to catastrophic events and pricing properties based on the risks.

“It is too early to estimate the market size but we feel the prospects are bright. We are working in this area for more than three years now. It will be a growth area for India with the availability of historical catastrophe data such as CAT models for earthquake. This is definitely going to be an important contributor to the transformation of insurance underwriting,” said Gaurav Johri, senior vice-president & global head (BFSI), Mindtree.

CAT, or catastrophe modelling, is a procedure in which computer-assisted calculations are used to estimate losses owing to natural calamities.

The company maintains that the insurance industry needs to effectively manage the exposure accumulation on a geographic basis and price properties taking into account the exposure to catastrophic events.

“Data and analytics are top priority for insurers globally. Insurance players are leveraging these solutions across the value chain to cross sell or upsell products, new product mix, improve distribution efficiency, reporting and compliance. Mindtree offerings address key demands in the market and align very well to the changing trend in the industry,” Johri said.