Society Insurance Successfully Completes Implementation of Majesco’s Cover-All Policy
Highlights Business Value of Pre-Built Bureau Products to Rapidly and Cost-Effectively Implement Commercial Lines
New York, NY July 16, 2015: Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today announced that Society Insurance (Society) successfully completed their implementation of Majesco’s Cover-All Policy, going live with Business Owners Policy, General Liability and Umbrella insurance with rating, quoting, underwriting, policy lifecycle management, document generation/management, and program-based underwriting. Society had previously gone live with Commercial Auto and Workers Compensation in 2014. This final milestone completes their policy modernization strategic initiative.
“This implementation marks a significant accomplishment for Society and provides a foundation for our future growth plans,” said Tom Konop, vice president of Information Systems at Society Insurance. “Our strategic objective was to modernize our policy platform more rapidly than the industry norm. We achieved this through a strong partnership with Majesco and their robust and in-depth pre-built bureau products and product configuration capabilities. Even more important is our ability to stay current with bureau updates and product enhancements to help remain compliant and competitive in a fast-changing commercial lines market.”
“Achieving and exceeding our customer’s expectations is a testament to the strong partnership, leadership commitment, robust products and strong joint project team,’ said Manish Shah, EVP, Products for Majesco. “Business transformation for commercial lines is complex, but with the robust depth and breadth of Cover-All Policy’s pre-built bureau products, configuration capabilities and ongoing bureau updates, Society’s implementation is testimony to a successful cost effective execution in an aggressive timeframe. This implementation highlights Majesco’s commitment to a customer-centric culture.”
About Society Insurance
Headquartered in Fond du Lac, Wis., Society Insurance has been a leading property and casualty insurance carrier since 1915. The company’s more than 250 employees and network of more than 2700 independent agents at more than 500 agency locations currently serves customers in Illinois, Indiana, Iowa and Wisconsin. As Society celebrates its 100th anniversary, the company is focused on the small details that make a big difference while serving the small-to-midsize niche businesses that comprise main street America. Society offers target programs and products for restaurants, bars, hotels, grocery stores, medical clinics, artisan contractors and cleaning services. This focus on specific business allows Society to provide superior claims handling, underwriting and risk control, which has led to long-standing relationships with and endorsements from a number of trade associations.
Majesco enables insurance business transformation for approximately 140 insurance customers by providing solutions which include software, consulting and services.
Our customers are insurers, MGA’s and other risk providers from the Property and Casualty, Life, Annuity and Group insurance segments worldwide. Majesco delivers proven software solutions, consulting and services in the core insurance areas such as policy, billing, claims, distribution management, BI/ analytics, digital, application management, cloud and more. For more details on Majesco, please visit www.majesco.com.
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