Shriram Life Insurance licenses Credence Analytics' investments management system

Source: Credence Analytics

Mumbai-based Credence Analytics won the mandate for the investments management solution from Hyderabad-based Shriram Life Insurance.

Credence would implement iDEAL at the investments department in Hyderabad. The solution is expected to "go-live" in three months.

Credence won this mandate after an intensive evaluation of different solutions by the life insurance company.

The entire solution is expected to help Shriram Life manage their entire investment operations including investment planning, transaction management, cash management, reconciliation and comprehensive IRDA reporting. Credence iDEAL has already been implemented at Reliance Life Insurance, Life Insurance Corporation of India, New India Assurance and is currently being implemented at AVIVA Life Insurance.

Describing this milestone Mr. Hariharan, CFO, Shriram Life Insurance says, "We chose Credence Analytics as our investments solution provider because we were impressed with their track record and comfortable with the comprehensiveness of their solution – iDEAL."

Commenting over the mandate, Mr. C. K. Guruprasad, Director - Marketing, Credence Analytics, said, "This mandate from Shriram Life against stiff competition is a validation of our product strength and we would like to address the investment management requirements of the insurance industry in a comprehensive manner. We look forward to working with Shriram Life and benefiting from the experience."

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