NIIT Technologies has announced the launch of EXACT Advantage for APAC and ANZ market. EXACT Advantage is a risk exposure management product already being used by leading global insurance and reinsurance companies across Europe. It covers all lines of business with its key focus being commercial and specialty insurance markets.
EXACT Advantage allows underwriters access to relevant and accurate information to assess exposures pre and post contract bind. It brings together the power of a market-leading risk aggregation engine and an advanced global mapping interface utilising the latest Geographical Enterprise Systems (GIS) technology to assess and monitor risk exposure across multiple lines such as energy (onshore and offshore) and property.
Commenting on the launch, Mr. Arvind Mehrotra, President, Asia Pacific, NIIT Technologies, said, “In the year 2011 insurers have already seen 63% increase of loss load with worldwide economic losses amounting to USD 370 Billion and insured losses of about USD 116 Billion . The earthquakes in Japan and New Zealand, for example, and hurricanes Irene and Katia in the Atlantic caused tragic loss of life as well as serious damage to property and essential infrastructure. EXACT® Advantage provides a central resource with powerful capabilities for managing exposure across a broad range of business lines, all of which might be inter-related in a single portfolio of business”.
