3i Infotech Takes the Top Spot for Takaful Technology

London, United Kingdom, July 24, 2010 --(PR.com)-- Global financial technology solutions and services provider, 3i Infotech has won the “Best Takaful Technology Company” award at the 4th International Takaful Summit 2010 in London. Organised by the Middle East Business Forum and Afkar Consulting, the awards honour companies and practitioners that have contributed the most to the growing Takaful market.

Winning the award for the third year in a row, the significant achievement recognizes 3i Infotech’s extensive work with Takaful companies located throughout South-East Asia, the Middle East and Africa.

Presented by Lord Mohammed Sheikh, Chairman of Camberford Law Plc, the award win followed an extensive judging and selection process that was overseen by a host of journalists, lawyers and Takaful practitioners.

Timed to coincide with the 4th International Takaful Summit 2010, the conference included a number of high profile speakers from around the world who discussed some of the most important issues facing the relatively new yet, fast growing, Takaful market.

Faisal Khan, Director Insurance and Banking, 3i Infotech Western Europe, said, “Despite the recent international economic turmoil, the appetite for Takaful financial products and services has grown rapidly over the course of the past few years, as individuals and businesses recognise the benefits that the market can deliver. Thanks to the strength of new and existing partnerships with key practitioners currently working within the space, we are proud to be able to offer a solution that meets the needs of this burgeoning insurance market.

“With PREMIA Takaful, our goal has always been to position the product and our business as an innovative technology that provides customers with a vehicle for competitive advantage. This hat-trick of awards underlines the confidence that our clients continue to have with this innovative approach.”

Jayaraman Jagannadhan, Head of 3i Infotech's Global Development Centre for Insurance, added, “Over the past 10 years we have worked with nearly 40 operators in the Takaful industry in Malaysia, Middle East and Africa where the major advances in this sector have taken place. With this knowledge and experience fully embedded in our software solutions, we are well-positioned to support the global expansion of Takaful into new markets with Sharia compliant technology.”

3i Infotech offers its end-to-end Insurance Software Solutions Suite, PREMIA, for the Takaful Insurance sector. The PREMIA suite comprises PREMIA General Insurance, PREMIA Health, PREMIA Life, PREMIA Property & Casualty and PREMIA Collaborator. With approximately 150 Takaful companies worldwide, 3i Infotech is leading the way in Takaful insurance solutions, cornering a 25% market share of systems from this sector.

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