Kotak Mahindra Old Mutual Life Insurance Limited (Kotak Life Insurance) has announced that they have selected Oracle Financial Management for effective financial control over its nationwide operations.

The company is expanding its operations to new towns and cities and Oracle Applications will help the company enhance business efficiencies by integrating data into a single instance. The company has chosen to implement Oracle Applications across its operations in 77 Indian cities and towns.

"We believe that information technology is a key enabler for business growth. By leveraging Oracle Applications, we would want to scale up our accounting infrastructure to keep pace with our fast paced growth" said Dhiresh Rustogi, Chief Technology Officer, Kotak Life Insurance. "Oracle Applications will help us gain greater financial control to support our expansion plans."

Samir Sathe, Director Sales - Applications, Oracle India, said, "We are happy to be partnering with Kotak Mahindra Old Mutual Life Insurance for this IT initiative. With insurance companies rapidly expanding into smaller cities and towns to reach out to a larger audience, they are increasingly facing challenges in effectively controlling their expanded operations, thereby affecting business efficiencies and regulatory compliance. Oracle Applications will address these issues and help Kotak life insurance enhance productivity and efficiency."