From correspondents in Delhi, India, 10:06 PM IST

Gradatim IT Ventures, one of the leading players in the Micro-Finance industry, announced the launch of MF-Insure, an on-demand micro-insurance technology platform which combines IT Infrastructure and Back Office Services, and delivered as a Business Process Utility (BPU) on a ‘Pay-Per-Use’ Pricing Model. This platform is all set to redefine the micro banking and micro-insurance segment in the country. MF-Insure is proficient in handling products for all lines of insurance business – Life, Health, Non-life and Pension. MF-Insure will enable reliable services to the insurance providers and their shareholders.

Speaking on the occasion, Mr. Prakash C V, CEO, “At Gradatim, it is our constant endeavor to develop innovative and user-friendly IT platforms in order to simplify Insurance operations. MF-Insure is a pioneer platform and is expected to play a very critical role by simplifying and consolidating business operations, reducing cost, improving turn around times, and other operational advantages, thus enabling insurance providers to offer affordable insurance services to low-income groups.”

MF-Insure platform caters to Insurance companies, Agents, Insurance Brokers, MFIs, Banks, NBFCs and other institutions offering micro-insurance and guarantees standardization of processes, transaction and collaborative infrastructure, and reduced cost due to multi-tenant operations.

“Micro Insurance as a sector is witnessing tremendous growth across the globe. In India, however the penetration in the micro insurance segment is little over 2%. In light of the tremendous potential in the sector, Insurers are gradually and constantly introducing new products. Microinsurance is essentially a low-price, high-volume business and its success and market sustainability depends on keeping the transaction costs low. Gradatim’s MF-Insure platform provides a complete End-to-End platform / solution to address the Micro-Insurance sector", said Mr. K.L.Balasubramanian, Director – Business Development, Gradatim.

Source: Press Release Distribution via India PRwire