Intellect Design Arena added 1.59% to Rs 723.70 after the company announced the signing of a multi-year deal with leading London Market Brokerage firm worth Rs 200 crore.
As per the terms of the agreement, the brokerage firm will deploy Intellects underwriting ecosystem which consists of Magic Submission and Xponent solutions, built on IntellectAIs proprietary Purple Fabric platform, to enhance and streamline its insurance policy placement process.
The Intellects ecosystem will help the brokerage to transform its submission-to-bind workflow, eliminating manual inefficiencies and accelerating deal flow across a broad network of global markets.
Banesh Prabhu, CEO of IntellectAI, said: We are thrilled to support this forward-thinking insurance intermediary in reimagining its placement process.
The speed and conviction with which this deal was finalised is a testament to the value our platform brings to the industry. By leveraging our Purple Fabric Platform, we are not only enhancing the underwriting process but fundamentally transforming it.
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Our AI-driven ecosystem enables brokers to accelerate deal flow, expand market access, and drive operational efficiencies that were previously unattainable.
Intellect Design Arena has a comprehensive portfolio of products across Global Consumer Banking, Central Banking, Risk & Treasury Management, Global Transaction Banking and Insurance and is engaged in the business of software development.
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