Polaris Financial Technology gains on launching ‘Life Claims in the Cloud’

Polaris Financial Technology is currently trading at Rs. 191.15, up by 2.60 points or 1.38% from its previous closing of Rs. 188.55 on the BSE. The scrip opened at Rs. 189.90 and has touched a high and low of Rs. 191.15 and Rs. 189.90 respectively. So far 5,272 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 219.00 on 02-Apr-2014 and a 52 week low of Rs. 96.10 on 14-May-2013. Last one week high and low of the scrip stood at Rs. 196.95 and Rs. 173.00 respectively. The current market cap of the company is Rs. 1,907.00 crore. The promoters holding in the company stood at 29.13% while Institutions and Non-Institutions held 31.18% and 39.69% respectively. Polaris Financial Technology, a leader in products that enable unprecedented operational productivity for the global financial services industry, has launched ‘Life Claims in the Cloud’ at the recently held annual Association for Cooperative Operations Research and Development (ACORD) LOMA Forum in Orlando, Florida. Life Claims in the Cloud helps life, annuity and health carriers harness the power of cloud computing to run a claims solution for as low as $10,000/month without any lead time to deploy. This innovative offering allows claims managers to focus on processing claims quickly and enhancing the customer’s engagement experience instead of spending long cycles on limitations of the claims process and IT provisioning. Polaris is a full-spectrum Financial Technology major, using technology as an enabler to drive unprecedented operational productivity in Retail, Corporate and Investment Banking. Polaris services over 200 banks across the world, including 9 of the top 10 banks, with a comprehensive suite of products, services and consulting offerings.