One Alliance Insurance Selects Majesco Policy as Strategic Enterprise Platform

Src : http://investors.majesco.com/file/Index?KeyFile=34194198

One Alliance Insurance Selects Majesco Policy as Strategic Enterprise Platform

Company Release - 5/5/2016 8:45 AM ET

Majesco Policy to support new start-up Alliance One market entrance with new commercial package and commercial auto lines of business

MORRISTOWN, N.J.--(BUSINESS WIRE)-- Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today announced that the San Juan, Puerto Rico based insurer One Alliance Insurance Corporation has selected Majesco Policy for P&C and Majesco Bureau and Content Services as their strategic enterprise platform.

Commenting on the selection, Victor R. Rios CEO of One Alliance, said, “As a fresh start-up, One Alliance will offer a wide range of new commercial products. Majesco’ successful track record in the Puerto Rican market and with other start-ups and green field insurers were key factors in the selection. Majesco Policy’s robust pre-built content and ISO products are designed to lower implementation risk and cost while significantly increasing speed to market. We are excited about our potential together as long-term partners.”

Majesco Policy will support One Alliance for commercial auto and commercial package lines of business including commercial property, general liability, inland marine and crime. Majesco Bureau and Content Services will provide ongoing updates for ISO content.

“We are excited to include One Alliance into our growing customer base and growing group of innovative start-ups and green field insurers,” commented Ed Ossie, COO for Majesco. “Our focus on providing insurers like One Alliance with content-rich, pre-built ISO products within Majesco Policy for P&C, is designed to enable them to respond to a rapidly changing market dynamic and new commercial risk opportunities through agility, innovation and speed to market capabilities.”

Majesco Policy for P&C provides pre-configured ISO content, including all rates, rules, forms, taxes, fees, and surcharges for 52 jurisdictions (including DC and Puerto Rico) and also provides a well experienced monthly bureau content update service. Together the preconfigured bureau content and Majesco Bureau and Content Services 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.