Ambac Financial Group Selects Majesco Policy for P&C, Majesco Billing for P&C and Majesco Digital1st® for Cirrata Group

Press Release

Morristown, NJ – April 27th, 2023 – Majesco, a global leader of cloud insurance platform software for insurance business transformation, today announced Ambac Financial Group, Inc. selected Majesco Policy for P&C, Majesco Billing for P&C and Majesco Digital1st® on Majesco Cloud Platform to provide a modern foundation for its insurance distribution division, Cirrata Group.

Ambac Financial Group is a financial services holding company headquartered in New York City. Its Cirrata Group division is dedicated to providing Specialty P&C Managing General Agencies/Underwriters with advanced technology, analytics, and services to grow.

“We are excited to partner with the Majesco team as we continue to expand Cirrata Group,” says Dan McGinnis, Chief Operating Officer at Ambac. “Majesco’s cloud-native platform will provide our MGAs the flexibility and speed they need to meet the growing demands of customers.”

One area of focus for Cirrata Group is to create an advanced underwriting workbench that delivers a consistent, unified user experience to MGAs. Majesco Digital1st®will rapidly deliver an intelligent, insight-driven solution to enhance underwriting efficiency and profitability, portfolio optimization, and create greater transparency and collaboration with MGAs and brokers.

“We are excited that Ambac Financial Group will be leveraging Majesco’s industry leading solutions to optimize and innovate their business to drive growth,” says Prateek Kumar, EVP Sales, Americas at Majesco. “As Ambac Financial Group continues to execute on its strategic vision, geared towards product innovation and prioritization of the customer experience, we are excited to partner with them on this journey.”

About Majesco

Majesco is the partner P&C and L&A insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what’s next, without losing sight of what’s important now. Over 350 insurers, from greenfields and startups to some of the world’s largest insurers, rely on Majesco’s SaaS platforms solutions of core, data, analytics, digital, and rich ecosystem of partners to create their next now.

As an industry leader, we don’t believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 900+ successful implementations we are uniquely qualified to bridge the gap between a traditional insurance industry approach and a pure digital mindset. We give customers the confidence to decide, the products to perform, and the follow-through to execute.

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