Business Round up: L&T centre in Sweden; Mphasis partners IIM
IT firm Mphasis said Wednesday it has partnered with NSRCEL, the incubation centre at IIM Bangalore to support early-stage social ventures.
* L&T Technology Services (LTTS) Wednesday announced the inauguration of its Digital Engineering Centre in Gothenburg, Sweden.
Located in the Lindholm Science Park, the Centre will act as a nearshore development facility for LTTS' customers in the region, providing proximity and support to their agile transformation initiatives, LTTS said in a statement.
The facility will also act as a centre of excellence for LTTS' operations across areas such as automotive and digital technologies, it added.
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Mphasis partners with IIM-Bangalore incubation centre
* IT firm Mphasis said Wednesday it has partnered with NSRCEL, the incubation centre at IIM Bangalore to support early-stage social ventures.
The programme aims to incubate and support 'for profit' social ventures and comprises start-ups that have been in operation for one to three years, a statement said.
The programme's focus is on helping start-ups build financially sustainable and scalable models working in the education, livelihood and disability space, it added.
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Policybazaar.com adopts blockchain technology
* Policybazaar.com, an insurance website and comparison portal, Wednesday said it has partnered with Accrivis Network to implement blockchain solutions to enhance customer centricity through data security.
By integrating this technology, Policybazaar.com is looking to detect and minimise the rampant frauds that are on-going in the insurance ecosystem affecting both the business and the consumer, a statement said.
It added that the Indian insurance industry loses an estimated USD 6.25 billion or nearly 10 per cent of its revenue on account of various frauds.
The technology will enable Policybazaar.com to enhance the security and privacy of data.
(With inputs from agencies.)