Rapid Launch of Majesco Policy for commercial package with ready to use ISO content in Majesco CloudInsurer
Morristown, NJ –December 15, 2016 - Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today announced that The Norfolk and Dedham Group® have selected Majesco Policy for commercial package in Majesco CloudInsurer.
“We chose Majesco to support our commercial package policy offerings because of its ready to use content and ability to bring new products to market expeditiously,” said Erin M. Cummings, VP, The Norfolk and Dedham Group.
The N&D® Group, a regional carrier comprised of three mutual companies, Norfolk & Dedham Mutual Fire, Dorchester Mutual and Fitchburg Mutual, was founded in 1825 and is based in Dedham, MA and Bridgewater, NJ. Currently, they write in six states with plans to expand into additional states to support their business strategy and growth. Implementation of the new core systems in Majesco CloudInsurer will support aggressive growth plans as well as provide a foundation for future product needs by providing speed to value and operational efficiency.
“We are honored and excited to partner with The Norfolk and Dedham Group as they embark on their rapid transformation to support their business strategies,” commented Prateek Kumar, EVP P&C Business for Majesco. “Our strategic focus on providing insurers like The N&D Group a rich platform with ready to use content, industry best practices and pre-integrated solutions via Majesco CloudInsurer platform will enable them to respond to a rapidly changing market dynamic and new commercial risk opportunities through agility, innovation and speed to market capabilities. We look forward to a successful partnership with The N&D Group.”
Majesco Policy for P&C is pre-defined, integrated, and maintained for ISO bureau content via Majesco Bureau and Content Services for all lines of business, and designed to enable agility, rapid product innovation and speed to market opportunities for insurance companies to introduce new products and reach new markets quickly and cost effectively to capture market share. 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 Policy.
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.