Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Arch Insurance Group, Inc. (Arch Insurance) implemented Majesco Billing for P&C on Majesco CloudInsurer™ in seven months.
Arch Insurance is part of Arch Capital Group Ltd., a Bermuda-based company that provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries. Arch Insurance aims to provide its customers with superb coverage and service through business-friendly solutions.
“Insurance customers are demanding new levels of billing service, and Arch’s commitment to a superior client experience requires supporting a variety of payment options, customizable bill plans and access to real-time billing information. Our strategic partnership with Majesco and this initial implementation enable Arch to meet those needs.” stated Tom Ahern, EVP & Chief Financial Officer for Arch Insurance.
Arch’s implementation is the first phase of a multi-phased enterprise initiative that will replace multiple legacy billing solutions.
“We are thrilled to be partnering with Arch Insurance to deliver on their strong commitment to service,” stated Prateek Kumar, EVP for Majesco. “In today’s continued rapid shift to a new digital era of insurance, billing solutions are at the forefront of meeting customer expectations. Our deep understanding and experience in delivering billing capabilities for today and the future, provide our customers a platform to rapidly launch and achieve growth and service excellence strategies. We look forward to the future phases and our partnership with Arch Insurance.”
Majesco (NASDAQ: MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal. Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st Insurance™ with Digital1st eConnect™, Digital1st EcoExchange™ and Digital1st Platform™ – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.
About Arch Insurance Group Inc.
Arch Insurance Group Inc., a wholly owned subsidiary of Arch Capital Group Ltd., provides property, casualty and specialty insurance solutions for corporations, professional firms and financial institutions in the United States. Business is written by Arch Insurance Company, Arch Specialty Insurance Company, Arch Excess & Surplus Insurance Company and Arch Indemnity Insurance Company.
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