Majesco, Infosys | May 19, 2021
For insurance business transformation, Infosys, a world leader in next-generation digital services and consulting, and Majesco, a global leader in cloud insurance platform solutions, announced a strategic partnership today. Infosys and Majesco will collaborate to help joint customers drive their digital transformation journeys, allowing them to capitalize on emerging opportunities, meet the need for personalized customer experiences, operating efficiency, and digital adoption through the insurance business value chain.
The insurance industry will benefit from Infosys' insurance domain and digital technologies, which will be integrated with Majesco's cloud-based next-generation suite of solutions, which includes the Majesco L&A and Group Core Suite, Majesco P&C Core Suite, and Majesco Digital1st® Insurance on Majesco CloudInsurer®. Customers in the Life & Annuity (L&A), Group, and Property & Casualty (P&C) segments would benefit from the combined synergy, which would help insurers achieve efficiency and innovation at scale.
Majesco provides insurers with the technology, expertise, and leadership they need to modernize, innovate, and connect to develop the future of their business – and the future of insurance – at scale. The platforms bring insurance to individuals and companies in new, hyper-relevant, compelling, and personal ways. Majesco is changing the businesses of over 190 insurance companies worldwide in P&C, L&A, and Group Benefits by modernizing, optimizing, or creating new business models.CloudInsurer® P&C Core Suite (Policy, Billing, Claims); 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; Distribution.
Infosys is a global leader in digital services and consulting for the next generation. Clients in 46 countries depend upon it to help them manage their digital transition. It expertly guides its clients on their digital journey with nearly four decades of experience managing the systems and workings of multinational organizations. It has accomplished this by providing the enterprise with an AI-powered core that helps in the prioritizing of change execution. It also empowers the business with agile digital at scale, enabling it to achieve virtually unknown levels of success and customer delight. The never-ending learning agenda propels it forward by developing and transferring digital skills, expertise, and ideas from its innovation ecosystem.
Pie Insurance | August 28, 2021
Pie Insurance, an insurtech company specializing in workers' comp insurance for small businesses, today announced that Pie Carrier Holdings has received regulatory approval from the Illinois Department of Insurance to acquire Western Select Insurance Company, a property casualty insurance company that is licensed in Illinois, California, and New York, from a subsidiary of Premia Holdings Ltd. The proposed acquisition represents an important step by Pie Carrier Holdings, a subsidiary of Pie, formed in May 2020, to execute on Pie's strategy of becoming a full-stack insurance carrier.
Upon the closing of the proposed acquisition, Western Select Insurance Company will be renamed Pie Casualty Insurance Company.
"Since Pie was founded in 2017, our goal has been to offer the entire small business insurance experience to our customers as a full stack insurance carrier," said John Swigart, co-founder and CEO of Pie. "Receiving regulatory approval to acquire Western Select Insurance Company is a key milestone on the path for Pie to write our own policies, and to bring our seamless commercial insurance experience to even more small businesses across the country."
About Pie Insurance
Pie Insurance is leveraging technology to transform how small businesses buy and experience commercial insurance, with the goal of making it affordable and as easy as pie. Pie's intense focus on granular, sophisticated pricing and data-driven customer segmentation enables Pie to match price with risk accurately across a broad spectrum of small business types, which allows Pie to offer more affordable insurance to small business owners. Since 2017, Pie has received over $300M in funding and commitments for future funding, grown its gross written premium to over $100M, and partnered with over 1,000 agencies nationwide.
Encova Insurance, Bold Penguin | January 07, 2021
Bold Penguin, a rapidly growing insurance technology supplier, reports today that it has started revealing a digital commercial insurance solution as a team with Encova Insurance. Encova joins other territorial and public key insurance organizations to offer a quoting experience for entrepreneurs' approaches for its autonomous agents.
As the small business space across the United States keeps on moving to digital, the requirement for precise, proficient admittance to commercial insurance has expanded. Small businesses and insurance agents the same profit by extended digital quoting capabilities that are controlled by Bold Penguin's technology.
"Independent agents and businesses alike need a solution for quick, easy to use, accurate software when it comes to quoting small commercial opportunities. Encova has proven to be one of the more advanced organizations and we are happy to work together," said Marc DeLeonibus, Co-founder of Bold Penguin. "Our partnership with Encova is the latest example of how large insurance companies are being nimble and meeting their agency force in a more digital way."
Encova and Bold Penguin declared their association in 2018. From that point forward, the two associations have been working intently on picking the correct enterprises, items, and key agents to move toward small commercial. The recently declared work smoothes out the rate, statement and tie measure and permits select Encova organizations to get to their items.
"We're committed to creating the user experience our small business customers and our agents expect," Encova Executive Vice President, Commercial Lines and Life, Grady Campbell said. "Partnering with Bold Penguin allows us to execute this vision quickly and efficiently, allowing more small businesses to access the coverage they need to grow their businesses."
Bold Penguin proceeds with its development by offering admittance to its Exchange to merchants, agents, insurtechs, and select key accomplices who work in taking care of small business insurance. Since the underlying dispatch of its foundation, Bold Penguin has helped handle in excess of 2 million statement begins. The organization has prepared applications across all significant lines of commercial inclusion, including overabundance and excess (E&S) and commercial auto by helping a developing rundown of dispersion and transporter accomplices.
About Encova Insurance
A super-regional carrier ranked in the top 20 mutual insurance companies in the United States, Encova includes more than 1,200 associates writing in 28 states and the District of Columbia, premiums in excess of $1 billion, a surplus in excess of $1.65 billion and assets in excess of $4.3 billion. The group markets insurance solutions through more than 2,000 independent agencies in the Midwest, Northeast and South.
About Bold Penguin
Bold Penguin is where technology enhances the human touch in commercial insurance. With a heavy focus on agents, Bold Penguin upgrades the user experience for businesses, creates an easy tool for agents, and offers a streamlined process of underwriting for carriers. Bold Penguin was founded in 2016 by a group of entrepreneurs who spent their early days working with Allstate, Nationwide and Progressive alongside regional carriers and established insurance agencies.