IRDA chose L&T Infotech as Implementation Agency to implement the Business Analytics Project

Insurance regulator IRDA on 2 May 2011 declared that it selected L&T Infotech for implementation of a project aimed at providing data and information for analysing insurance companies and regulatory decision making. L&T Infotech was chosen to be an Implementation Agency to implement the Business Analytics Project. The implementation of the project will facilitate centralised data storage and sharing across various functional departments within the IRDA.

The objectives of the project would be to ensure efficient management of data and information received by IRDA from insurers, intermediaries and TPAs in the form of financial statements, investment sch edule, actuarial reports & reports on re-insurance. The duration of the project is six years and would incur a total cost of Rs 28.02 crore.