For the first time commercial insurance and reinsurance sector has software capable of supporting all key business processes on a global scale. The IPF3 software platform released by ROOM Solutions, a leading supplier of IT systems for this industry, will also provide a step-change in the cost-effectiveness with which the London market can implement changes that will enable it to set the global benchmark for operational efficiency.
“IPF3 is a breakthrough technology that will catalyse a step-change in the way this market uses software; it will enable commercial insurers to take advantage of the new opportunities emerging across the world-wide for profitable underwriting at an unprecedented rate,” said Ameet Dave, Commercial Director, ROOM Solutions.
IPF3 combines powerful systems integration capabilities, a highly modular architecture, and a state of the art user interface to deliver an extremely powerful solution that enables insurers to tailor their business processes with precision.
“IPF3 is intended for use on commercial and personal lines markets in a truly global economy. It will allow insurers to implement a diverse range of business models across the globe rapidly,” commented Marcus Broome, CEO, ROOM Solutions.
The framework provides comprehensive support for underwriting, claims, reinsurance and financial processing. IPF3 applications work seamlessly and can be used for point solutions or combined to form a complete platform for the insurance enterprise.
“Through ROOM Solutions, NIIT Technologies continues to build on its insurance services leadership by delivering new solutions that help empower our customers to gain a competitive edge. We are confident, IPF3 will deliver a new set of standards for the commercial insurance sector and this launch reinforces our non-linear growth strategy,” said Arvind Thakur, CEO, NIIT Technologies.
