Majesco, global leader of cloud insurance software solutions for insurance business transformation announced that Óptima Seguros based in Puerto Rico will upgrade Majesco Policy for P&C and move from on-premise to Majesco CloudInsurer™ to bolster their growth strategy. Óptima Seguros has been a customer of Majesco’s since 2013 and is one of twenty Majesco customers in Puerto Rico.
Óptima Seguros is a property and contingency insurer created and authorized to operate in Puerto Rico in 2006, underwriting insurance under the name Óptima Insurance Company. In 2012 QBE, an insurer with global operations based in Australia, acquired the insurer and later changed the name to QBE Seguros. Late 2018, QBE Seguros signed an agreement for the acquisition of its Puerto Rico operations with Grupo Óptima, a Puerto Rican holding company and in August 2019, Grupo Óptima assumed the administration of the insurer upon completion of the regulatory process, operating under the Óptima Seguros brand.
“Óptima’s growth strategy demanded our ability to rapidly adapt to market opportunities, innovate and scale at speed,” commented Jonathan A. Martínez, Head of Technology at Óptima. “Our long-term partnership with Majesco and their commitment to supporting the Puerto Rico market demonstrated by their stellar reputation for their robust cloud-based platform was a key factor in our decision to upgrade and move to the cloud. Our ability to deliver the products and service our customers expect, demanded next generation cloud solution like Majesco’s that delivers leading-edge business capabilities with cutting-edge technical architecture that delivers on our commitment to our customers. We look forward to our deepening and expanding partnership with Majesco.”
Óptima is one of the leading commercial carriers in Puerto Rico and has been using Majesco Policy and the out of box ISO Content to provide Commercial Package and Commercial Auto Insurance to their customers in Puerto Rico. Majesco Policy for P&C on Majesco CloudInsurer® brings advanced and innovative capabilities that will help support Óptima’s growth strategy.
“We are thrilled to deepen and extend our partnership with Óptima Seguros and help them move to the newest version of Majesco Policy for P&C on Majesco CloudInsurer®,” commented Prateek Kumar, EVP at Majesco. “The demanding and unique needs of the Puerto Rican market highlight the strategic value of the Majesco solutions as a platform that delivers agility, innovation and speed while delivering a competitive, safe, scalable and secure operation. We look forward to our growing partnership with Óptima.”
Majesco 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® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); L&A Insurance Data & Analytics Platform; Digital1st® Insurance with Digital1st® Engagement, Digital1st® EcoExchange and Digital1st® Platform – a cloud-native, microservices and open API platform; Distribution Management, P&C Insurance Data & Analytics Platform, including an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.