Next-generation platform enables wholesaler to bring innovative specialty insurance solutions to brokers and agents at speed and scale
Morristown, NJ – November 4, 2019 - Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Burns & Wilcox, North America’s leading insurance wholesale broker and underwriting manager, selected Majesco Digital1st Insurance® platform as the foundation of their latest digital growth strategy.
Burns & Wilcox, the flagship organization of H.W. Kaufman Group, captures more than $1.5 billion in premium annually and is recognized for its expertise in commercial and professional liability, property, environmental, marine and personal insurance. For 50 years, the privately held wholesaler has served retail brokers and agents of all sizes—offering wide ranging and comprehensive specialty insurance solutions and trusted counsel on complex risks.
“When evaluating new technology solutions to further support our overall growth strategy and meet the needs of our clients, we determined the need for a platform that provided cloud-based, real-time, insurance specific capabilities,” commented Daniel J. Kaufman, Chief Operating Officer, Burns & Wilcox and Executive Vice President, H.W. Kaufman Group. “By partnering with Majesco Digital1st Insurance®, Burns & Wilcox can provide quick access to innovative specialty insurance products on a digital platform that meets the changing risk needs of consumers.”
The initial phase will include the development of three insurance offerings with plans to extend the platform across the enterprise with additional product offerings.
Majesco Digital1st Insurance™ is a ground-breaking cloud-native, micro-services and API-based platform-as-a-service that brings the most cutting-edge business and consumer technology trends to insurance. Majesco Digital1st Insurance® is distinctly different from the core platform solutions for P&C and L&A and Group, though each of new solutions can be used and integrated with Majesco’s core systems, and with other core software to accelerate their value.
“We are honored and thrilled on the selection of Majesco Digital1st Insurance® by Burns & Wilcox as their platform for their future,” stated Manish Shah, President and Chief Product Officer for Majesco. “Majesco Digital1st Insurance® is our answer to the paradigm shift happening in the insurance industry. We’ve built a platform designed to innovate and scale the business, create unique client experiences, capture new and underserved market opportunities, leverage expanding ecosystems and deliver value in record time. We are thrilled to partner with Burns & Wilcox to demonstrate the possibilities and value of this next generation platform and in doing so, shape the future of their business and the industry.”
About Burns & Wilcox
Burns & Wilcox is the insurance industry’s leading wholesale insurance broker and underwriting manager internationally recognized for its expertise in commercial and professional liability, property, environmental, marine and personal insurance.
Burns & Wilcox is a member of H.W. Kaufman Group, which has over 60 offices across the United States, Canada, and the United Kingdom and employs more than 2,000 professionals. Founded in 1969 and headquartered in Metro Detroit, H.W. Kaufman Group also includes: Burns & Wilcox Brokerage, Burns & Wilcox Canada, Atain Insurance Companies, Afirm, Global Excess Partners, RB Jones, Stonemark, Minuteman Adjusters, and London-based, Chesterfield Insurance Brokers, Lochain Patrick, Cranbrook Underwriting, and Node International. More information can be found at www.burnsandwilcox.com.
Majesco (NASDAQ: MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal. Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st Insurance™ with Digital1st eConnect™, Digital1st EcoExchange™ and Digital1st Platform™ – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.
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