Insurance regulator Irda has shortlisted four IT firms, including Infosys Technologies and Mahindra Satyam, for implementation of a project aimed at meeting its data needs and regulatory decision making.

Towards achieving its goal of effective supervision, Irda had invited IT firms for its Business Analytics Project (BAP) aimed at providing necessary data and information for analysing the insurance companies and regulatory decision making.

The other two IT firms that have been shortlisted for the Phase-III of BAP tendering process -- the financial bidding -- are, L&T Infotech and Keane India.