Colorado Farm Bureau Mutual Plans Major Upgrade with Majesco Policy for P&C
Highlights Value of Long-Term Customer Relationships
Morristown, NJ – May 24, 2016 – Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today announced that its client, Colorado Farm Bureau Mutual Insurance Co. (Colorado Farm Bureau Mutual), will upgrade to Majesco Policy for P&C as its strategic enterprise platform.
Commenting on the selection, Art Wallace, Vice President – Underwriting for Colorado Farm Bureau Mutual, said, “Majesco has been a great partner for over a decade. We have decided to upgrade to the new Majesco Policy due to its robust pre-built content and ISO products, modern user interface, product flexibility, and speed to market. Majesco continues to be our partner of choice for commercial lines.”
Majesco Policy for P&C will support Colorado Farm Bureau Mutual’s Business owners and Business Auto policies and its commercial package lines of business, including commercial property, inland marine, general liability, auto and crime.
“Building long-term relationships with our customers and providing them the latest and best solutions is a key driver to Majesco’s strategy,” commented Ed Ossie, COO for Majesco. “We are excited about Colorado Farm Bureau Mutual’s decision to upgrade to the latest release of Majesco Policy for P&C as a means of achieving agility and speed to market. We look forward to extending our relationship with Colorado Farm Bureau Mutual.”
Majesco Policy for P&C provides pre-configured ISO content, including all rates, rules, forms, taxes, fees, and surcharges for 52 jurisdictions (including DC and Puerto Rico), and provides a well-experienced monthly bureau content update service. Together, the preconfigured bureau content and Majesco Bureau and Content Services are designed to provide agility, rapid product innovation and speed to market opportunities to enable insurance companies to introduce new products and reach new markets quickly and cost effectively, to capture market share.
About Colorado Farm Bureau Mutual Insurance Company
In 1950, Colorado Farm Bureau Mutual Casualty Company was established under sponsorship of Colorado Farm Bureau. Today, just 65 years later, Colorado Farm Bureau Mutual Insurance Co. as it is known today, has grown into a full service provider of insurance products and services. From humble beginnings, we have become a great service and benefit to the great members and supporters of Colorado Farm Bureau, a company dedicated to the mission of protecting the agricultural rights that affect all of Colorado.
Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance. Approximately 150 insurance companies worldwide in P&C, L&A and Group/ Employee Benefits are transforming their businesses with Majesco’s solutions. Our market leading software, consulting and services uniquely underpin the entire insurance value chain and are designed to empower insurers with the agility, innovation and speed needed to meet their transformation opportunities. Majesco’s solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI/ analytics, predictive modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more.
For more details on Majesco, please visit www.majesco.com.
Majesco is a provider of core insurance technology software and IT services to insurance carriers (P&C and Life, Annuity, Group) globally. Majesco delivers proven software solutions and IT services in core insurance areas including policy administration, billing, claims and distribution.
Tara Dilzer Alexander
Director, Marketing Communications and Creative Services