Naya Ventures Launches $50 million Fund focusing on the mobile and cloud markets / ICICI Lombard awarded the Asia Insurance Technology Award for "Best Mobile Application"

India quick review : new fund, mobile insurance

Naya Ventures Launches $50 million Fund focusing on the mobile and cloud markets

Naya Ventures, a venture capital fund specialising in early stage companies in the mobile and cloud markets, today announced its first closing for its 250 Crore Rupees ($50 million) fund. Headquartered in Dallas, with offices in Silicon Valley, Seattle and Hyderabad, India, Naya combines the features of a venture capital fund with those of a private equity firm, Naya provides capital to early stage companies, and the industry experience and relationships at the concept stage in their development to help jumpstart their growth to the next level.

Naya helps connect entrepreneurs with the necessary key players in big companies, from internal product marketing and development all the way up to C-level executives, leveraging its own operational experience, product development expertise and network of strategic relationships to help entrepreneurs grow their companies and accelerate value creation.In operation since 2011, Naya's current portfolio consists of seven companies in the mobile and cloud market. These include BoxFish (formerly Mixaroo), a better way to control TV, Zoomingo, a top rated shopping app platform that lets consumers find the best deals in their local stores or online from their smartphone or home computer; and Glympse, a mobile service that allows GPS-enabled mobile devices to share their location via a web app for a pre-set amount of time.

ICICI Lombard awarded the Asia Insurance Technology Award for "Best Mobile Application"

ICICI Lombard General Insurance Company Ltd., an Indian general insurance company, has been awarded the Asia Insurance Technology Award for the "Best Mobile Application" in the non-life insurance sector. This award recognises those insurers who exhibit innovation in the use of mobile technology. ICICI Lombard General Insurance was bestowed the award for implementing the 'Enterprise Mobility Initiative', having launched several mobility applications targeting diverse stakeholders including end customers, agents, claims surveyors, and internal employees, thus providing quick service and information access at the touch of a button.

The winners for Asia Insurance Technology Award 2012 were chosen from a field that included nominations from India, Japan, Sri Lanka, Singapore, Hong Kong, China, Australia and New Zealand. By migrating its services to the technology platform, ICICI Lombard General Insurance explains it have been able to enhance the service delivery both in terms of reducing the number of processes as well as the time required for settling claims. Asia Insurance Technology Awards is organised by Celent together with Asia Insurance Review.