Press Release

Pentation Analytics: Analytics Solution 2018 Rank II at Express I.T. Awards

The 6th Editon of Express I.T. Awards took shape of a gala awards ceremony on 5th of December this year, recognizing companies who are at the cutting edge of technology innovation, as well as leading professionals across the I.T. industry.
An initiative of the business publication Financial Express, every year the Awards aim to discover, recognize and reward I.T. solutions that have been leveraged to drive value addition in business.
Selection Process: From Five Hundred to Fifteen
The Awards saw about 500 applications this year across the 9 categories – IT Innovation-Large Enterprises, IT Innovation-MSME, Mobility Solutions, Cloud Solutions, Startup of the Year, Analytics Solutions, Fintech Solutions, Software Product and Digital Solutions.
Evaluation process was led by the Financial Express editorial team, along with their knowledge partner PwC. Adjudged by a jury team of globally recognized innovators.

The team looked at how novel and exclusive an idea was. “In categories such as analytics, for instance, they believed it was important to also gauge how easily the product or service could be deployed. The jury also went into how the service is performing currently and tried to assess whether it has a future. How would it evolve in the next four or five years? Would the base product stay strong enough and evolve in the manner needed? After all, any product or service must be amenable to continuous improvements.” (Source – FE Bureau)

Insurance Analytics Suite: The Winner Entry
Pentation Analytics had nominated their proprietary platform that provides self-service analytics for insurers and intermediaries, enabling digital dealership via machine learning, computer vision, and more. The key parameters used to judge the entry were business impact, scalability, robustness, societal impact, and market potential.
Insurance Analytics Suite addresses the global use-case that insurers face globally – realizing maximum value of insurance customers. The Suite achieves this by covering all concerns along the insurance value chain into a single platform –

  1. The front-ending sales and distribution (Retention, Cross-sell/Upsell, Roll-over),
  2. backed by strategy and growth (Scenario Analysis),
  3. impacting all the way to process and operations (Contact Centre Optimization, AI-enabled Inspections via Image Analytics)
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Insurance Analytics Suite is currently deployed at 7 leading insurers, and over 40 insurance intermediaries. Earlier this year, Pentation Analytics was selected among the top 10 InsurTechs globally by Startupbootcamp’s Hartford Insurtech Hub Accelerator program earlier in 2018. Insurance Analytics Suite was also nominated as the “Most Innovative Insurance Product” at the 12th India Digital Awards 2018 by Internet and Mobile Association of India, and at the Digital Insurer’s Startup Insurtech Awards 2018.
This Year’s Theme: Digital India – From Hype to Reality

Express I.T. Awards 2018 welcomed Hon’ble Union Minister of Electronics and Information Technology, Ravi Shankar Prasad, as the chief guest for the evening. During his talk, he expressed that the accessibility of the digital system is unlocking an entrepreneurial spirit and passion for technology, leading to the continual growth.

The ceremony began with “The Digital vs Cards” debate on whether the digital payments will cannibalize plastic money, with the panel comprising of industry leaders such as P.K. Gupta – Managing Director at State Bank of India, T.R. Ramachandran – Group Country Manager at Visa, Sharad Sharma – Co-Founder at iSpirit Foundation, Dilip Asbe – Managing Director and CEO at NPCI, and Vivek Belgavi – Partner at India FinTech leader PwC India. It emerged from the discussion that the initiatives taken in building an open architecture format for digital platforms to grow was at the core of the spurt being witnessed.

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