This AI stock which deals in the business of software development providing services to the field of Financial Technology for Insurance, Banking, and other Financial Services, surged upto 3 percent after receiving a multi-year deal worth Rs. 200 crore from a London Market Brokerage Firm.
Price Movement
In Thursday’s trading session, Intellect Design Arena Ltd‘s share price touched a day’s high of Rs. 730.40, which was up by 2.52 percent. The share price reiterated from the day’s high and was trading at Rs. 722.95, which is 1.48 percent higher than the previous closing price of Rs. 712.40.
In the past year, the stock has delivered a negative return of around 20 percent and has underperformed the Nifty Index.
What Happened?
The company’s stock was in focus after the company’s exchange filing revealed, that Intellect Design Arena’s, IntellectAI, the Insurtech business unit has received a multi-year deal worth Rs. 200 crore. The platform offers AI and data-powered underwriting solutions and has announced an agreement with London’s premier Market Insurance and Reinsurance Brokerage Firm.
Under this agreement, Intellect will deploy its platform towards the underwriting ecosystem which includes Magic Submission and Xponent Solutions which is built on IntellectAI’s proprietary Purple Fabric platform to improve and streamline its insurance policy placement process.
By leveraging Purple Fabric and Xponent’s AI Expert Agents, the Brokerage Firm will benefit such as streamlining the submission process, Improve Risk qualification and pricing, Improving broker carrier interactions, and delivering an end-to-end digital experience by covering binding, invoicing, payments, claim management etc.
Management Commentary
The CEO of IntellectAI, Banesh Prabhu said “We are thrilled to support this forward-thinking insurance intermediary in reimagining its placement process. The speed and conviction with which this deal was finalised is a testament to the value our platform brings to the industry.
By leveraging our Purple Fabric Platform, we are not only enhancing the underwriting process but fundamentally transforming it. Our AI-driven ecosystem enables brokers to accelerate deal flow, expand market access, and drive operational efficiencies that were previously unattainable.”
Q3FY25 Financial Performance
Their Q3FY25 results show revenue from operations of Rs. 610 crore which declined by 3.78 percent year on year, from Rs. 634 crore in Q3FY24 and a 9.31 percent increase from Rs. 558 crore in Q2FY25.
Its net profit declined by 16.47 percent year on year, from Rs. 85 crores in Q3FY24 to a profit of Rs. 71 crores in Q3FY25. Quarterly, the profits were increased by 36.53 percent from Rs. 52 crores.
Business Segment
The company recognizes its operational revenue from Software Product License & related services as its sole segment of the December 2024 quarter.
About the company
Intellect Design Arena is a global leader in financial technology, offering innovative software solutions for banking and insurance and focused on digital transformation and customer-centric design across 57 countries.
Written by Santhosh S
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