Polaris Appoints Pranav Pasricha as Global Head for Insurance Business

CHENNAI, India, May 30, 2011 -

Polaris Software (POLS.BO), a leading global Financial
Technology Company has appointed Pranav Pasricha as Global Head of Insurance
Business. Prior to joining Polaris, Pranav was CIO and Head of Strategy and
Operations for QBE Insurance Group, one of the top 20 global insurance
companies in the world.

Pranav brings the rich experience of working in various
micro-verticals within the Insurance domain, and has handled critical
functions such as Strategy, Business Transformation, Program Delivery and
Corporate Governance. In his new role with Polaris, Pranav will lead the
Insurance vertical and leverage the company's superior Intellect SEEC
framework to provide unparalleled efficiency to key customers.

Speaking on the occasion Arun Jain, Chairman & CEO, Polaris
Software said, "We have a fantastic proposition for the Insurance industry
with our unique offerings - both products and services. With Pranav coming on
board, I am confident our growth journey in the Insurance space will gain
significant momentum and complement the talent of our team that already
services 7 of the top 10 global Insurance companies."

Talking of new role as Global Head of Insurance Business,
Polaris Software, Pranav Pasricha said, "I am excited by the opportunity of
being able to work with one of the global leaders in financial technology.
Working towards strengthening Polaris' growth and taking a world class
product like Intellect to the next level would be my endeavor going forward."

About Polaris Software Lab

Polaris Software Lab (POLS.BO) is a leading Financial Technology company,
with its comprehensive portfolio of products, services and consulting.
Polaris has a talent strength of over 10,500 solution architects, domain and
technology experts. The company owns the largest set of Intellectual
Properties in the form of a comprehensive product suite, IntellectTM GUB
M180. IntellectTM is the first pure play SOA based application suite for
Retail, Corporate, Investment banking and Insurance.

Polaris is headquartered in Chennai and has offices in all global
financial hubs including Tokyo, Sydney, Hong Kong, Singapore, India, Dubai,
Bahrain, Riyadh, London, Belfast, Zurich, Frankfurt, Toronto, New York,
Chicago, Fremont, Pittsburgh and Chile. For more information, please visit
www.polarisFT.com/

    For more info, please contact:

    Dwaipayan Deb
    Polaris Software Lab
    Tel: +91-9962536442
    Email: dwaipayan.d@polaris.co.in

.