Polaris to invest Rs 100 crore in new facility

Chennai-based Polaris Software Lab, a financial technology company, is planning to strengthen its insurance portfolio business by introducing new solutions, according to media reports.

Polaris Software Lab will set up a centre of excellence for insurance near Chennai with an investment of around Rs 100 crore. The centre will develop new solutions and provide service to company’s insurance clients.

The CEO of Polaris, Arun Jain said that the company has invested Rs 400 crore over last year to develop financial technology products. Jain laid foundation stone for the new centre at Navalur in Tamil Nadu. The new centre of the company is located at a distance of 25 km from Chennai.