CAMS gains after subsidiary unveils policyholder traceability solution

Computer Age Management Services (CAMS) rose 1.08% to Rs 2399.65 after the company said its wholly owned subsidiary, CAMSRep, unveiled a policyholder traceability solution for the insurance market.

India's leading insurance repository, CAMS Insurance Repository Services (CAMSRep), has launched deep contact tracing. It assists insurance companies in addressing their unclaimed amounts.

Insurance companies have been grappling with the problem of contact tracing spanning over several years unable to deliver the claim amount to policyholders. As a result, the number of policies and the unclaimed amounts in the life insurance industry continues to rise year after year.

CAMSRep's PolicyGenie Deep Contact Tracing is an efficient and cost-effective solution which leverages emerging digital technologies to track the untraceable policyholders and update their contact information.

CAMSRep is a wholly owned subsidiary of CAMS, the leading financial infrastructure provider and India's largest registrar and transfer agent of mutual funds with an aggregate market share of approximately 70%. CAMS is the primary payments aggregator for Mutual Funds, large NBFCs & Insurers.

On a consolidated basis, CAMS' net profit rose 37.03% to Rs 77.31 crore on 27.84% increase in sales to Rs 237.71 crore in Q3 FY22 over Q3 FY21.

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