Four IT companies, including Tata Consultancy Services and Wipro, are in the fray to manage and operate the Business Analytics Project (BAP) of insurance sector regulator Irdai. Irdai said TCS, Larsen and Toubro InfoTech, Wipro and EIT Service India Private Ltd (a DXC Technology company) have been shortlisted for the next round of bidding. The four companies had submitted their initial bids in response to an 'expression of interest' floated by the Insurance Regulatory and Development Authority of India (Irdai) in August. L&T InfoTech has been providing BAP services on a BOT (Build, Operate and Transfer) model to Irdai since 2011. The contract is expiring this month. Irdai said BAP was implemented for automation of registration and other connected activities for insurers, brokers, surveyors and third party administrators, as well as automation of product approvals, branch office opening and advertisements, among others. In addition to providing the BAP services, the selected ...
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