Mindtree partners with Duck Creek for achieving digital transformation of UPC Insurance

Mindtree has partnered with Duck Creek to improve the customer experience for UPC Insurance customers through the implementation of SaaS-based core systems.  

UPC Insurance is a speciality underwriter of catastrophe exposed property insurance in the coastal US for personal and commercial properties.  

Reacting to this, the company’s stock today increased by 1.89 per cent and made an intraday high of Rs 2,056.85 per share. 

Besides, the company reported a net profit of Rs 317.30 crore in Q4FY21. It had reported a profit of Rs 206.20 crore in Q4FY20, which is an increase of 53.88 per cent. The company reported net sales of Rs 2,109.30 crore for Q4FY21, an increase of 2.87 per cent as against the net sales of Rs 2,050.50 crore for Q4FY20.   

Mindtree is a technology consulting and services company, helping enterprises marry scale with agility to achieve a competitive advantage.  

According to BSE data, the stock traded at a P/E multiple of 29.95 and a price-to-book ratio of 7.70. The stock has a 52-week high and a 52-week low of Rs 2,275.10 and Rs 755.75, respectively.   

At 1.58 pm on Monday, the stock of the company was trading at Rs 2,059.15, up by 2.00 per cent on BSE.