Majesco, a global provider of core insurance software, consulting and services for insurance business transformation, today announced that Maryland Auto Insurance (MAI) successfully implemented Majesco P&C Suite and Majesco Bureau and Content Services for their commercial auto line of business.
The implementation was extensive including quoting, rating using ISO ERC, underwriting, policy management, billing, document generation/management, and program-based underwriting. Majesco’s Bureau and Content Services using ISO ERC, automates and integrates ISO content as well as updates that are designed to significantly improve speed to market, quality and compliance.
The implementation aims to enable MAI to transform its business by providing enhanced customer service through real-time policy issuance as compared to days in the old environment. In addition, MAI agents are empowered with real-time access to issue policies and print policy documents, further strengthening the customer experience.
"Our implementation of Majesco P&C Suite marks a significant accomplishment for Maryland Auto Insurance and provides a new foundation that reinforces and demonstrates our commitment to insure and service our customers who have increasingly higher expectations," said Paul Deter, Senior Director of Fiscal & IT at Maryland Auto Insurance.
"Modernizing our core insurance business systems was the foundation of our business transformation strategy, which will support further initiatives to support our customers while optimizing our business. The strong partnership with Majesco, their in-depth solutions, and their commitment to customers was key to our successful implementation and transformation journey."
"We congratulate Maryland Auto Insurance on their successful implementation and business transformation," said Prateek Kumar, EVP & P&C Business Leader for Majesco.
Majesco P&C Suite includes Policy, Billing, Claims, Rating, Reinsurance and Underwriting Workbench. Majesco Policy is recognized as a market-leading solution and is pre-defined, integrated, and maintained for ISO bureau content via Majesco Bureau and Content Services for all lines of business and states.
It is designed to enable speed to market opportunities for insurance companies to introduce new products and reach new markets quickly and cost effectively to capture market share. Majesco Billing is recognized by industry analysts as the leading billing solution.