Advertisment

Aithent bags $100 million US e-governance project

author-image
CIOL Bureau
New Update

NEW DELHI: Aithent Technologies has signed up a ten-year agreement with the National Association of Insurance Commissioners (NAIC), US. The size of the order is $100 million. Under the terms of the contract, NAIC will be licensing Aithent's Insurance Regulatory Solution - Licensing Environment Online (LEO) - to cater to the licensing and regulatory requirements of various American states in the insurance sector. The company will also be sharing recurring revenues on licensing and transaction fees generated in the electronic processing of forms.



The contract enables the NAIC to license and resell Aithent's web-enabled state based licensing technology to the insurance department of every state. The first of NAIC and Aithent joint deployment of State Based Solution (SBS) was launched at New Jersey on July 22, 2002. Deployment is expected to take place over the next couple of months in at least four more states.



N Venu Gopal, CEO of Aithent informed in an exclusive chat with CNS that there is tremendous scope of a similar set up in India and Aithent is targeting the government as a prime customer. LEO is a second generation system and builds on Aithent's close working relationships with the New York State Licensing Department, which has added Web-enabled licensing and terminating of agents through an upgrade of Aithent's earlier client server solution - Licensing Information Online Network System (LION).

tech-news