FirstApex signs MOU with Wuxi Government
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FirstApex signs MOU with Wuxi Government

By SiliconIndia   |   Friday, 29 February 2008, 14:14 Hrs
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Bangalore: Bangalore based FirstApex Software Technologies, a provider of IT Solutions for the insurance sector, has signed MOU with Wuxi Government during "Wuxi-Bangalore Business Seminar on Service Cooperation" on 19th February 2008.

FirstApex signed MOU in partnership with iSoftStone Services, a IT outsourcing company in China to set-up training and development center in Wuxi, dedicated for insurance related IT products.

China is the fastest growing economy with 10 percent growth every year. The Insurance market in China has grown from $14.3 billion in 1998 to $97 billion in 2007. Huge market potential especially for retail and commercial line of insurance business attracts the insurance companies. With growth comes the need for IT system, manpower, and domain knowledge experts. To address these needs, iSoftStone and FirstApex have come together and are focusing on IT insurance training and development.

FirstApex was the first choice for iSoftStone, considering the extensive insurance domain knowledge it has gained from over 25 years of experience in the industry. FirstApex has its presence in China since the late 90's, a press release stated.

Speaking on the occasion, FirstApex's spokesperson said, "We have provided the right IT solution for the blue-chip of the insurance industry in China like Allianz, Mitsui Sumitomo, AIOI and Hyundai Marine and Fire. We are looking at accelerated growth and are geared up for big leap forward in 2008."

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