India's first microinsurance platform

MUMBAI: Gradatim IT Ventures, a leading micro-finance player, on Thursday announced the launch of its on-demand micro-insurance technology platform called MF-Insure.
    
It combines IT infrastructure and back-office services, and delivered as a business process utility on a pay-per-use pricing model, a press release issued here stated.
    
MF-Insure is proficient in handling products for all lines of insurance business such as life, health, non-life and pension, the release said.
    
Gradatim's CEO, C V Prakash, said that "at Gradatim, it is our constant endeavour 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."
    
The platform caters to insurance companies, agents, insurance brokers, MFIs, banks, NBFCs and other institutions offering micro-insurance and guarantees standardisation of processes, transaction and collaborative infrastructure and reduced cost due to multi-tenant operations, the release said.     

Gradatim is a privately-held IT company with operations in India, Australia and Singapore.