Upgrade and implementation will strengthen CapSpecialty’s focus on delivering responsiveness, speed and innovation to agents, brokers and customers
Morristown, NJ – September 1st, 2020 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that CapSpecialty, a leading provider of specialty insurance for small to mid-sized businesses in the U.S., has successfully upgraded Majesco Billing for P&C to Version 11 on Majesco CloudInsurer®. In parallel, they implemented Majesco Enterprise Data Warehouse (EDW) and Majesco Digital1st® Electronic Billing and Payments™ (EBP) applications. These implementations reconfirm their long-term partnership with Majesco.
The decision to upgrade followed a market assessment of all options relative to CapSpecialty’s broader business requirements.
“We recognize the importance of remaining competitive in the midst of today’s fast-moving marketplace,” said Crystal Blass, Head of Operations at CapSpecialty. “We have a keen understanding of what matters most to our customers, agents and brokers and by moving to the cloud, we are bringing them agility, innovation, responsiveness and speed. We consider Majesco a long-term partner and through our evaluation process we reconfirmed that the company’s vision, strategy, team and solutions align with our business strategy. Now that we are live, we are well positioned to continue serving our select group of customers and partners.”
The upgrade and implementation, leveraging extensive out-of-the-box content and capabilities that facilitated the rollout to CloudInsurer®, will enable CapSpecialty rapid scale as their business grows. Majesco EDW provides a robust data framework that is pre-integrated with billing helping to unlock insights to optimize the business. The Digital1st® EBP application is integrated with the Chase Paymentech® online payment app in the Digital1st® EcoExchange, offering a digital billing and payment option for their agents and customers.
“We are honored that CapSpecialty is continuing our long-standing partnership with their upgrade of Majesco Billing for P&C and move to CloudInsurer®,” said Prateek Kumar, EVP of P&C Business for Majesco. “In an increasingly competitive and rapidly changing specialty insurance marketplace, the powerful combination of our billing, Digital1st®, EDW and CloudInsurer® solutions provide a powerful platform that will optimize CapSpecialty operations while accelerating their growth strategies with innovative products that their customers, agents and brokers demand in a new digital era of insurance.”
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® Engagement, 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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