InsuraGuest selects Swarts, Manning & Associates Insurance Agency

GlobeNewswire | August 20, 2020

InsuraGuest Technologies, Inc. (TSX.V: ISGI) (the “Company”), under its wholly owned U.S. subsidiary InsuraGuest Insurance Agency, LLC (the “Agency”), has signed Swarts, Manning & Associates (“SMA”) for its agency/broker program, which focuses on agencies and brokers that write general liability polices specifically for hotels. InsuraGuest will utilize SMA’s brokers and business network in Utah, Nevada and California to access SMA’s hotel clients and integrate InsuraGuest’s insurtech software platform to deliver its hospitality liability coverages. Our focus has always been on risk management and improving the risk profile of our hospitality clients,” states Mark Swarts, founder and president of Swarts, Manning & Associates. “Adding InsuraGuest’s products to our partner list will help us reduce their hotel clients’ risk ratios and claim ratios while potentially lowering their GL premiums.”  InsuraGuest insurance coverage, which is purchased by a property, automatically delivers hospitality liability coverages through the property’s management system via the Company’s proprietary insurtech (insurance + technology) platform. These coverages address claims from guests and their room occupants during their stay at a hotel; coverages insert a layer of protection on a primary basis should a guest experience an accident or theft.

Spotlight

Today’s insurance industry is ripe for disruption. In fact, experts predict that the industry will experience more transformation in the next five years than it has in the past 50.This dramatic shift is driven by several factors:  Today’s customers expect the same capabilities and experiences they have when interacting with retailers, entertainment providers, the travel industry, and retail banks. They want to receive service anytime, anywhere, through any channel, on any device they choose. The new trend toward digitization is unleashing the power to transform insurance with easier, more cost-effective, and socially acceptable processes. This is made possible by the proliferation of mobile devices, which have become the new basis for business for the millennial generation and others. Non-traditional players are entering the insurance market, challenging the status quo and bringing innovation to an industry that has been historically slow to evolve.

Spotlight

Today’s insurance industry is ripe for disruption. In fact, experts predict that the industry will experience more transformation in the next five years than it has in the past 50.This dramatic shift is driven by several factors:  Today’s customers expect the same capabilities and experiences they have when interacting with retailers, entertainment providers, the travel industry, and retail banks. They want to receive service anytime, anywhere, through any channel, on any device they choose. The new trend toward digitization is unleashing the power to transform insurance with easier, more cost-effective, and socially acceptable processes. This is made possible by the proliferation of mobile devices, which have become the new basis for business for the millennial generation and others. Non-traditional players are entering the insurance market, challenging the status quo and bringing innovation to an industry that has been historically slow to evolve.

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JENCAP GROUP ACQUIRES INTERNATIONAL ASSURANCE OF TENNESSEE, Expands Medical Stop-Loss Capabilities

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Majesco Recognized as a Challenger in 2021 Gartner® Magic Quadrant™ for Life Insurance Policy Administration Systems, North America

Majesco | August 31, 2021

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Examples include: Low-code product and system configuration to rapidly launch new products and to provide a more adaptable and easy-to-configure user interface. A service-oriented architecture (SOA) that exposes insurance products, rules, algorithms and processes to wider enterprise systems. In addition, it supports integration and ease of upgrade using technologies common to all life insurance business models — such as APIs and an enterprise service bus (ESB). SaaS or off-premises deployment options that support seamless introduction of state-of-the-art native technologies offered by technical giants, such as Amazon or Microsoft, and that provide ready-made resilient infrastructure. Continuous integration/continuous delivery (CI/CD) that provides seamless and frequent upgrades to avoid technical debt accumulation. Digital accelerators, including business intelligence (BI) capabilities, with an array of dashboards and key performance indicators (KPIs) that assist with decision making and portal capabilities to deliver a multichannel, intuitive user experience configurable for different distribution channels and devices. Maintaining safeguards around security and compliance.” “We have seen the acceleration of life insurance companies moving to a robust, cloud-based core insurance platform that will position them to compete with new products, services and customers experiences demanded in our new normal,” stated Adam Elster, CEO of Majesco. “We are honored to be recognized as a Challenger and will continue our investment and commitment to our customers and the industry in providing next generation SaaS solutions that keep them ahead of the competition and market changes. We believe that the report showcases not only our robust capabilities, but our Ability to Execute with the tremendous growth momentum over the last year in terms of new wins and our growing strategic partnerships with systems integrators supporting our implementations. In our opinion, this recognition reaffirms that we are helping our customers seamlessly transition to building the future of insurance with digitally enabled solutions.” Majesco L&A and Group Core Suite supports all individual, group and voluntary benefits on a single platform, recognizing that growing and retaining customers, regardless of where they originate, is critical to insurer’s growth strategies. The suite provides essential core system capabilities for policy, billing, and claims across a wide array of products, both traditional and new. It brings a host of exciting, innovative capabilities to life, group, and annuities insurance, such as an AI-powered group sales process to deliver digital RFP, an AI bot-driven conversational UX for navigation, and an always straight through processing approach to speed up transaction processing individually or across multiple points. The powerful design allows for rapid adaptation for new, innovative products or benefit plans, giving insurers the power, flexibility and speed needed to capture opportunities and create profitable growth. “Nearly every insurance company is in the midst of transforming their business, recognizing the significant need to improve, both operationally and innovatively, to enable profitable growth,” said Manish Shah, President and Chief Product Officer of Majesco. “This era of life insurance is different than even just two years ago and Majesco L&A and Group Core Suite brings a strong, innovative solution to life, annuities, group and benefits insurance market that digitally enable carriers to meet the emerging shift in new customer needs and expectations while helping them maintain their competitive advantage.” Gartner Disclaimer GARTNER and MAGIC QUADRANT are registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. About Majesco Majesco is the leading software partner to both the P&C and L&A insurance markets to modernize, optimize and innovate their businesses at speed and scale. 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