MORRISTOWN, N.J.--(BUSINESS WIRE)--Majesco, a global leader of cloud insurance platform software for insurance business transformation, today announced United Surety & Indemnity Company (USIC), the leading surety writer in Puerto Rico, is live with Majesco Digital 1st® Platform to create a next-gen digital claims experience. The USIC and Majesco cross-functional teams partnered to implement the platform in under 45 days, bringing the new digital claims experience to their customers. This follows their implementation of Majesco Core for the Commercial line of business in the cloud to continue their digital transformation journey.
Based in Puerto Rico, USIC has been in the insurance industry for more than 30 years bringing a diversified portfolio of solutions to its customers including Residential Property, Flood, Builder’s Risk, Commercial Package and Residential Condominium policies. It is the only local insurer in Puerto Rico that currently enjoys a rating of “A” Excellent by AM Best, and it is known for its superior customer service and financial stability.
“We have built a reputation on our commitment to bringing innovative product offerings to our customers. We understand the need to adapt to today’s changing market and invest in technology that allows us to improve operations and enhance the customer experience,” says Mr. Frederick Millan, President at USIC. “We are grateful for the partnership we found in the Majesco team and are thrilled with the easy and fast implementation process that allowed us to bring to market a new digital claims experience that provides multi-lingual support in 45 days. Majesco Digital1st® Platform has helped us create a next-gen claims experience, while simplifying the FNOL process and creating a new market process benchmark of just two minutes.”
Majesco Digital1st® Platform is a low-code/no-code digital insurance platform with robust digital experience tools, microservices, access to a rich API catalog, and rich insurance content that connects with a plug-and-play ecosystem of partner solutions and data sources. Majesco 360 series of accelerators including Digital Customer360, Digital Agent360, Digital Electronic Bill360, Digital Underwriter360 and Digital Enroll360 provide insurers with rich, next-gen capabilities to accelerate their digital transformation.
The Majesco Digital1st® Platform provided the foundation to transform the claims process for USIC, providing a fully integrated, one-touch, rapid FNOL process. USIC customers now have access to an online FNOL claims workflow and submission that is fully integrated with Majesco Claims for P&C. The customer simply selects their policy which connects to the digital solution to begin the FNOL by bringing in pre-populated information that reduces the amount of manual entry required by the customer. Once the customer attaches any necessary documents, the FNOL claim is submitted to Majesco Claims for P&C which is accessed immediately by the USIC claims department. This streamlined process allows the USIC claims department to quickly respond to the claim, avoid rekeying the information, and provide a new level of customer experience.
“We are so impressed with the USIC team and their commitment to investing in solutions and technology that meets new expectations of their customer base,” Badri Mallikarjunan, SVP and GM of Digital1st® at Majesco. “With Majesco Digital1st® Platform, USIC is able to elevate the customer experience, significantly accelerate the submission process, eliminate duplication efforts and increase the productivity of claims operations. We are thrilled about our partnership with the USIC team and excited to be part of their digital transformation journey that brings a more efficient, digital claims experience to their organization and their customers.”
Majesco is the partner P&C and L&AH insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what’s next, without losing sight of what’s important now. Over 350 insurers, from greenfields and startups to some of the world’s largest insurers, rely on Majesco’s SaaS platforms solutions of core, data, analytics, digital, underwriting, loss control and rich ecosystem of partners to create their next now.
As an industry leader, we don’t believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 900+ successful implementations we are uniquely qualified to bridge the gap between a traditional insurance industry approach and a pure digital mindset. We give customers the confidence to decide, the products to perform, and the follow-through to execute.
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