illumifin Corporation, a US based insurance third-party administration and software provider, announces its full-fledged operations in India with the opening of its new India corporate office in Bangalore. The company aims to consolidate and expand its footprint in Mumbai, Hyderabad & Pune where it has significant presence.
The company is keen to hire self-driven technologists to expand its workforce in India. The ultimate aim is to create a synchronized talent pool, where superior value is delivered to insurance customers in their digital transformations, through the company’s deep insurance knowledge, technology innovation and operational excellence.
Phil Ratcliff, Global CEO of illumifin Corporation, said “We are excited to grow and develop our capability in India at this pivotable moment. Our vision, is to be a true partner to the insurance industry, delivering technology enabled business processing services and essential software solutions, to help transform insurers for tomorrow’s digital future. India will be central to our business, as we build illumifin into a new & vibrant company, innovating across the insurance administration and software markets.”
Talking about India operations and knowledge-based workforce expansion, Manoj Kallangad Puthankalam, Head of India at illumifin, said, “As we expand in India, we look forward to creating a strong domain-centric and digitally skilled workforce and a vibrant work culture. We aim at providing careers that make a difference.”
illumifin was founded in July 2021 by Abry Partners, a Boston-based private equity firm, and Hoplon Capital, an asset manager, focused on digital disruption after the acquisition of Concentrix Corporation’s insurance third-party administration and software platform. illumifin has also recently in April 2022 completed its acquisition of LTCG (Long Term Care Group), a leading provider of administrative solutions and clinical services to the long-term care and life insurance industry. The strategic acquisition will make illumifin one of the largest insurance third-party administrators in the US with leading capability in Insurance Software, underwriting, policy administration, health risk assessments and claims management.
illumifin aims to create transformational change in the insurance industry through market-driven technologies and solutions. illumifin is focussed at becoming an innovative partner to the insurance industry and delivering visionary technology-enabled services to individual and group insurers. Its deep industry expertise, proven technology and best-in-class administration will combine to create long-term value for the customers they work with globally.
