Intellect Design Arena Ltd Share Price – NSE  / BSE

IT - Software, Small Cap

IntellectAI, the Insurtech business unit of Intellect Design Arena offering AI and data-powered underwriting solutions, and InsureMO, a leading global insurance infrastructure platform, announced that Incarnation Specialty, signed on as the latest MGA client for IntellectAI's underwriting workbench, eMACH.ai Xponent, with the InsureMO policy admin system.

As an Managing General Agency (MGA) with specialised inland and ocean marine insurance offerings, Incarnation selected two insurtech companies because they were looking to rapidly mobilise and launch an end-to-end underwriting and policy admin solution to ingest, underwrite, rate, quote and bind submissions, and issue and manage policy lifecycles.

eMACH.ai Xponent is a highly configurable, feature-rich AI-powered, end-to-end workbench for account-centric underwriting built on Purple Fabric platform enhanced by eMACH.ai framework. Purple Fabric is an advanced enterprise AI platform that uses a low-code, self-service approach to enable enterprises to quickly build and implement AI solutions. This strategy reduces costs and time investment while fostering creativity.

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Intellect Design Arena has allotted 1,64,744 equity shares under ESOP on 18 November 2024. With this allotment, the paid up equity share capital has increased to Rs. 692,089,220/- divided into 138,417,844 equity shares of Rs. 5/- each.

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Net profit of Intellect Design Arena declined 25.03% to Rs 52.81 crore in the quarter ended September 2024 as against Rs 70.44 crore during the previous quarter ended September 2023. Sales declined 9.84% to Rs 558.13 crore in the quarter ended September 2024 as against Rs 619.05 crore during the previous quarter ended September 2023.

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Intellect Global Transaction Banking (iGTB), the transaction banking business unit from Intellect Design Arena is proud to announce its partnership with National Bank of Fujairah (NBF), an award-winning UAE-based full-service corporate bank, to enhance its digital capabilities. This deal marks the first Microsoft Azure-managed service for Intellectfs eMACH.ai Cloud for Wholesale Banking in the Middle East.

NBF currently serves corporates and SMEs through its network in the UAE, providing financial services to optimise commercial opportunities and achieve sustainable growth for their clients. With the eMACH.ai Digital Transaction Banking solution, NBF can offer their clients a suite of comprehensive solutions backed by:

œ Innovative decision-making and enhanced digital capabilities: For improved information visibility and innovation, ensuring quick decision-making and a seamless user experience for corporate and SME clients.

œ Cloud-powered excellence: iGTB, with Microsoft Azure, will provide a fully managed cloud service, freeing NBF to focus on business development and client

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