Supports greenfield launch of new business segment in the UK providing insurance to high-net-worth individuals
Morristown, NJ – November 16th, 2021 – Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced that GrovesJohnWestrup Private Clients, has selected Majesco to support its strategy to develop a new, innovative insurance business within the UK market targeted at high-net-worth individuals. The Company uses Majesco’s Policy & Billing for P&C, Majesco Insurance Data & Analytics Platform and Majesco Digital1st® Insurance on Majesco CloudInsurer®,
GrovesJohnWestrup Private Clients, a Munich Re company required a B2B digital placement to trade with intermediated distribution channels so that it could reduce the cost of underwriting, whilst also increasing efficiency and customer satisfaction. The business offers a wide range of offerings including multi class products with multiple carriers and with Majesco as a partner, they are better able to process business directly from customers straight through to the back office.
Charles Burgess, CEO, International Distribution at Munich Re Specialty Group said: “The flexible data model and highly configurable solution from Majesco’s CloudInsurer®, has enabled GJW Private Clients to reduce the complexities associated with non-standard insurance - more so than comparable SaaS solutions that we researched in this process. We found that the secure and scalable architecture was easy for our team to integrate with other systems both internal and external. Moreover, throughout the implementation we were able to develop a great partnership that allowed us to combine their areas of expertise with ours, to address any business challenges with a united effort.”
Majesco’s innovative solutions deliver functionally rich, out-of-the-box capabilities, along with robust data and digital engagement features available through its next-generationsolutions, offering speed to implementation, market, and value.Majesco continues to work with both incumbent and InsurTech insurers, reinsurers, brokers, and MGAs to support the launch of new business models, introduce new products and enter new markets on its platforms.
“We’re thrilled to be working with a partner who shares our focus and commitment to reshaping the insurance industry,” says Prateek Kumar, EVP of Sales at Majesco. “Majesco’s solutions are not only helping insurers transform complexity, but they also allow for rapid integration, which in turn bring new, innovative business models and products to market GrovesJohnWestrup Private Clients. We are excited about our expanding strategic partnership with Munich Re Specialty Group, empowering their keen focus on innovation to implement more digital solutions in the UK and beyond.”
Majesco is the leading software partner to both the P&C and L&A insurance markets to modernize, optimize and innovate their businesses at speed and scale. Over 330 insurers, from greenfields, start-ups and MGAs to the largest insurers, reinsurers and brokers use Majesco’s next generation SaaS platform solutions of core, data, and analytics, digital, distribution, absence management and a rich ecosystem marketplace of established and InsurTech partners to build the future of insurance.
Our technology, expertise and leadership help insurers innovate and connect to build the future of their business. With over 825 successful implementations and over 65% of our customers on Cloud with Majesco platform solutions, together we have an amazing track record of innovation and real-world results. For more details on Majesco, please visit www.majesco.com.