July 2 , 2008 :
NIIT Technologies' subsidiary ROOM Solutions Ltd. (ROOM), a leading supplier of IT solutions and services to the London and international re/insurance market, received an Accomplishment Award at the 2008 ACORD LOMA Insurance Systems Forum.
ROOM received the ACORD Innovative Implementation Award, in the Accomplishment Category, in recognition of its implementation of XML standards at Aspen Insurance (Aspen) in an exceptional and innovative way. The Accomplishment Category identifies companies whose XML implementations have provided leadership in the way business is processed utilising ACORD standards.
"I am delighted that ROOM's project with Aspen, consolidating our position at the leading edge of IT in the insurance industry, has been recognised by ACORD. We look forward to continue to work with ROOM as we extend our XML implementation to new levels of innovation and efficiency." said Lisa Gibbard, Aspen's Head of IT
ROOM implemented the RLC Placement Message at Aspen as part of its Direct Placement Project. Aspen is implementing a strong visionary roadmap for 2008 incorporating ECF, A&S and P2P two-way messaging to support its growth and international expansion plans.
"Realising the criticality of standards in the cost-effective integration of IT has ensured that our robust technology framework is aligned to the current and future needs of our customers. We have been constantly delivering value to our business relationships, a fact reinforced by receiving the ACORD Innovative Implementation Award." said Arvind Thakur, CEO & Joint Managing Director, NIIT Technologies
"ROOM Solutions is to be congratulated not only for earning an ACORD Innovative Implementation Award, but for showing the industry how beneficial the implementation of ACORD data standards is for improving business and data flow." said John Kellington, Senior Vice President at ACORD
About NIIT Technologies
NIIT Technologies is a leading IT solutions organization, servicing customers in North America, Europe, Asia and Australia. It offers services in Application Development and Maintenance, Enterprise Solutions including Managed Services and Business Process Management to organizations in the Financial Services, Transportation, Retail, and Distribution and Government sectors.
NIIT Technologies' software development processes are assessed at SEI CMMI - Level 5 Version 1.2. Its human resource processes are assessed at the highest-level of maturity at PCMM Level 5. Further NIIT Technologies has processes and systems for information security management certified in accordance to the ISO 27001 standard, and its facilities offering Managed Services conform to ISO 20000 standard of Service Management.
About ROOM Solutions Limited
ROOM Solutions Limited is a leading supplier of solutions and services to the non-life insurance markets. The breadth and depth of our product and service offerings, in combination with our vision and commitment, enables risk carriers to optimise the management and control of their operational efficiency, business line profitability, and respond to major upcoming market level changes.
ROOM is a subsidiary of NIIT Technologies, a global IT solutions organisation, servicing customers in North America, Europe, Asia Pacific and Australia. It offers services in Application Development and Maintenance, Enterprise Solutions and Business Process Management to organizations in the Insurance, Financial Services, Transportation, Government, Retail and Distribution sectors.
About Aspen Insurance Holdings Limited
Aspen provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Bermuda, France, Ireland, the United States, the United Kingdom, and Switzerland. For the year ended December 31, 2007, Aspen reported gross written premiums of $1.8 billion, net income of $489.0 million and total assets of $7.2 billion. For more information about Aspen, please visit www.aspen.bm.
Safe Harbor
Certain statements in this release are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies / entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies and unauthorized use of our intellectual property and general economic conditions affecting our industry. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.
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