Press Release
Combined solution to deliver innovative claims capabilities
Morristown, NJ – September 29, 2016 – Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today announced a strategic partnership with DropIn, Inc. DropIn is an innovative provider of an on-demand live video platform for auto and home insurance, using smartphones and drones. In addition, they have access to a crowdsourced independent contractor network of 60,000 Droperators and 1100 drone pilots, smartphone users who capture on-demand live video streams, and photos for insurance professionals.
As part of this partnership, the companies have pre-integrated DropIn’s solution with the Majesco CloudInsurer through the Majesco DigitalConnect platform to offer the advanced, innovative claims capabilities which will enhance and streamline the claims experience for the insurers. The companies will be working together to identify joint business opportunities with new and existing clients, focused on helping Majesco customers further innovate claims using these emerging technologies and methods. In particular, this integrated solution and access to the Droperator network is expected to be appealing to new greenfields and startups.
“Insurers can benefit from operational efficiencies, better underwriting and claims handling by integrating emerging technologies that leverage streaming video, drones and crowdsourcing, with their core software” commented Prateek Kumar, EVP of the P&C Business for Majesco. “Majesco’s investments in the InsurTech ecosystem gives our CloudInsurer customers the benefit of taking advantage of newer capabilities in a plug and play mode”
“As a startup within the insurtech ecosystem, we are excited to be partnered with Majesco and embedded within the Majesco CloudInsurer and DigitalConnect platform,” says Alex Kim, COO of DropIn. “To introduce live video via crowdsourcing and drones as part of the customer engagement is the start of a digital evolution for the clients of Majesco and DropIn, enabling innovation and change.”
Majesco CloudInsurer leverages Majesco’s experience with over 30 cloud customers, providing a business platform with broad appeal for all insurers from greenfields, new start-ups and incubators to mid-market and tier one insurers. Majesco CloudInsurer provides a core insurance software platform leveraging Majesco core solutions with a digital, multi-channel platform leveraging Majesco DigitalConnect and robust ready to use content for products to rapidly jump-start the business. Majesco Partner EcoSystem is designed to provide our customers with strategic and operational business value by extending and expanding our software and services with the complementary and unique capabilities of our partner solutions across the insurance value chain.
About DropIn
The DropIn platform enables insurers to use on-demand live video for policy acquisition and management by harnessing the power of the video camera inside the smartphone that nearly everyone carries. It eliminates the need for the underwriter/claims adjuster to travel and provides access to the customer with unprecedented immediacy. Live video options include direct to customers, direct to field or partner resources, and on-demand to droperators or drones. For more details on DropIn, please visit http://dropininc.com.
About Majesco
Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance. Approximately 150 insurance companies worldwide in P&C, L&A and Group/ Employee Benefits are transforming their businesses with Majesco’s solutions. Our market leading software, consulting and services uniquely underpin the entire insurance value chain and are designed to empower insurers with the agility, innovation and speed needed to meet their transformation opportunities. Majesco’s solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI/ analytics, predictive modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more. For more details on Majesco, please visit majesco.com.