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ICICI Infotech Ltd is foraying into integrated insurance management solutions and would develop Islamic insurance solutions soon.
"Takaful Insurance (Islamic Insurance) market is growing strongly and the solution suite developed by ICICI Infotech is customised to meet takaful insurance requirements," ICICI Infotech Ltd executive director and president, Manoj Kunkalienkar told PTI in Mumbai on Wednesday.
ICICI Infotech has bagged over 60 customers, including takaful and general insurance, across Asia, Africa, Central Europe and the Middle East for takaful insurance suite, which is designed to take the risk out of insurance, he said.
ICICI Infotech general manager M B Battliwala said this is an all-inclusive, cost-efficient integrated insurance management solution, which would meet the entire lifecycle requirements of the product.
"The company would be focussing to market both the takaful and general insurance suite. In India, Oriental Insurance and ICICI Lombard are our major general insurance customers," he said.
The takaful insurance clients of ICICI Infotech include Takaful Islamic Bank (Brunei), Takaful Insurance Co (Kuwait), First Takaful Insurance Co (Kuwait), National Takaful
Insurance Co (Kuwait), Qatar Islamic Insurance Co, Al Rajhi Islamic Insurance Co (S Arabia), Abu Dhabi National Takaful Insurance Co, Takaful Ikulas (Malayasia) and Solidarity Islamic International Insurance Co (Bahrain).