CORE INSURANCE, INSURANCE TECHNOLOGY
Boston Mutual Life and Majesco | January 27, 2023
In a statement released on January 26, 2023, Majesco informed that Boston Mutual Life has chosen the company to modernize its core business platform and improve customer experience and engagement.
Paul A. Quaranto, Jr., Chairman, CEO, and President at Boston Mutual Life, stated, "By partnering with Majesco, we're able to transform our business and legacy solutions that will offer enhanced experiences for our policyholders, producers and employees." He added, "We're focused on doing what's best for our stakeholders, so we're excited to invest in advanced technology that enriches the customer experience and empowers us to leverage innovation to better support our mission to make it easier to do business with Boston Mutual Life."
(Source – Business Wire)
Boston Mutual Life Insurance Firm, a nationwide carrier that offers insurance solutions for working Americans and their families, was established as a progressive life insurance company in 1891. As a mutual company with locations in Canton, Massachusetts, and Omaha, Nebraska, it is committed to acting in the interests of its policyholders, producers, workers, and communities.
Adam Elster, CEO at Majesco, remarked, "We are looking forward to partnering with Boston Mutual Life on their transformation journey."
"They have over 131 years of experience and success and continue to invest in solutions that keep them at the forefront of the industry. We are honored they selected Majesco to not only address their current needs but to also provide a foundation for innovation and enhance the customer experience of the future," he concluded.
(Source – Business Wire)
About Majesco
Majesco is one of the partners that P&C and L&A insurers choose to create and deliver great customer experiences. Its SaaS platform solutions for core, digital, data & analytics, distribution, and a rich ecosystem of partners are used by more than 350 insurers, reinsurers, brokers, MGAs, and greenfields/startups to create their next now. With more than 900 successful implementations, it is one of those companies that can bridge the gap between the old way of doing things in the insurance industry and a digital-only mindset.
About Boston Mutual Life Insurance
Boston Mutual Life Insurance Company, a prominent US insurer, offers a variety of insurance alternatives to industrious families and individuals. The progressive life insurance company, founded in 1891, provides insurance products and services to working Americans and their families with convenient enrollment and billing options through the workplace. Its headquarters are in Canton, Massachusetts, and Omaha, Nebraska. Boston Mutual Life puts policyholders, clients, employees, and communities first.
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CORE INSURANCE, INSURANCE TECHNOLOGY
HawkSoft and Input 1 | January 20, 2023
On January 19, 2023, HawkSoft, a provider of agency management systems in the insurance industry, and Input 1, which delivers digital billing, payments, and premium finance solutions, entered into a partnership that allows HawkSoft agencies to use premium collection functionalities.
Input 1 has spent over 30 years perfecting its comprehensive billing and payments platform, which simplifies the intricacies of the premium collection lifecycle. Input 1's services are used by over 125 carriers, finance companies, managing general agents, and thousands of insurance agents to bill and collect premiums from their customers.
HawkSoft's agency management system has succeeded by creating a central insurance platform with API-powered connectivity throughout the insurtech stack. In addition, the company focuses on delivering technology guided by real-world workflows to independent insurance agencies, increasing revenue and efficiency.
With the integration of Input 1's premium finance and payments solution, HawkSoft clients can use data directly from their management system to accept digital payments for pay-in-full policies, offer digital premium financing, and set up recurring payments via debit, credit, and ACH. The integration also prevents double-entry in their common workflows.
Rushang Shah, Chief Marketing Officer of HawkSoft, said, "One of our key goals is to support the unique approaches independent insurance agencies apply in running their businesses." He further expressed, "We are happy to collaborate with Input 1 and welcome them to our ecosystem as a Solution Partner."
(Source – PR Newswire)
About HawkSoft
Based in Canby (Oregon), Hawsoft provides management systems to organizations that want efficient workflows, unique experiences for employees and policyholders, and tools to foster meaningful relationships. The company, founded by independent agents, provides an innovative system that powers thousands of agencies. HawkSoft aims to assist agents in performing quality work more efficiently - not by pushing them to adapt to the software but by ensuring that it automates the steps that agents already know work best.
AboutInput 1
Input 1, LLC offers digital billing and payment solutions to property and liability insurers. The company's digital billing and payment solutions provide insurance carriers and MGAs with tailored offerings at a lower cost and faster implementation than internal IT resources. In addition, its outsourcing helps banks, insurance carriers, and insurance brokers develop lucrative profit centers that increase client support and service alternatives.
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CORE INSURANCE
Root Insurance | February 17, 2023
On February 16, 2023, CCC Intelligent Solutions Inc., a SaaS platform for the personal and casualty insurance industry, announced that Root Insurance would extend its relationship with it for a technology-based first-party casualty solution. This extended relationship empowers Root Insurance to connect APD claims data and insights with casualty claims processing.
The addition of a CCC-powered first-party casualty solution enables Root to manage auto physical damage along with first- and third-party casualty claims through a single digital workflow. It digitalizes reimbursement recommendations, bill intake, and review. It provides accident data and insights so that it could help insurers with reviewing the medical bills for appropriateness and accuracy of medical treatment and medication charges through a digital medium.
Chief Claims and Customer Service Officer of Root, Mark LeMaster, said, "As a digital-first insurer, it is essential for Root to leverage data and technology to inform decisions and deliver seamless experiences." He added, "By working with CCC we can do both across the life of a claim, spanning auto physical damage, first- and third-party casualty and subrogation claims. CCC's network, technology, and AI are coming together in a way that will enable us to deliver on our policyholders' expectations for straight-through claims experiences."
(Source – Business Wire)
Chief Commercial and Customer Success Officer of CCC, Mike Silva, said, "We are excited to continue to support Root's vision for smart, digital claims management." He added, "Connecting the auto-physical damage and casualty claims processes will help Root gain greater insights to achieve better claims efficiency and better outcomes."
(Source – Business Wire)
About Root Insurance
Headquartered in Columbus, Ohio, Root insurance, an insurance company, has been providing insurance products and technology platforms for fairness, simplicity, and personalization in the FinTech industry since 2015. It offers services for car insurance, data science, engineering, automotive telematics, mobile applications, technology, and related insurance. It has been reported that the Root application has about 11 million app downloads, collecting more than 18 billion data for insurance offerings. Through the application, it measures driving behaviors like route consistency, driving times, speed of turns, and braking, determining the safe drivers.
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