Cision PR Newswire | October 06, 2020
CGI and Fennia Mutual Insurance Company have expanded their strategic relationship. CGI will assume responsibility for a majority of Fennia's IT services under a contract valued at approximately 48 million euros. Under the new agreement, CGI will manage Fennia's application development and maintenance services and also provide support services for Fennia's end-users and operating environments. Fennia will benefit from CGI's strong combination of business consulting, systems integration and managed IT services to support its ambitious digital transformation journey. The agreement also includes the transition of about 60 Fennia IT employees to CGI.
Business Wire | October 16, 2020
Majesco, a global leader of cloud insurance platform software for insurance business transformation, today announced the general availability of the version 11 R2 for the market-leading Majesco L&A & Group Core Suite Insurance Software, including Majesco Policy for L&A and Group, Majesco Billing for L&A and Group and Majesco Claims for L&A and Group. Nearly every insurance company is talking about transforming their business, recognizing the significant need to improve, both operationally and innovatively, to change the course to enable growth. Today’s customers want personalized experiences, and products aligned to their personal data – not aggregate data, and they want a product to encompass the risk product, customer experience and value-added services. However, as today’s digital customer seeks innovative digital experiences, they are met with traditional insurance approaches, creating a disparity between customer expectations and insurer’s ability to deliver. But opportunities for growth abound for those that embrace new core platforms that meet the changing demands of customers as noted in our research Rethinking Life Insurance: From a Transaction to a Life, Health, Wealth and Wellness Customer Experience.
iCover | September 13, 2021
iCover, a Missouri-based Insurtech that provides an algorithmic underwriting Platform as a Service (paas) for life insurance companies, raised an undisclosed amount in seed funding. The company intends to use the funds raised to expand insurance distribution through a direct-to-consumer offering, increase technical staff and expand sales and marketing efforts.
iCover also announced a multi-year partnership with KSKJ Life, headquartered in Joliet, IL, that allows iCover to onboard KSKJ Life's full suite of products which includes Final Expense, Term Life, Whole Life and Annuities on the platform to digitize their new business processes.
"We are excited about the partnership we have established with the iCover team. The experience and expertise that they offer, from the platform to business development, support our growth strategies and commitment to provide excellent service to our members and agents." (Tony Mravle, CEO for KSKJ Life)
"KSKJ Life is an ideal partner for iCover, they have an innovative mindset, agile approach to delivery and the suite of products that could help enhance the iCover platform." (Hari Srinivasan, CEO for iCover)
iCover is a cloud-based algorithmic underwriting platform that helps insurers sell to the middle market. By leveraging data and predictive analytics iCover can quote, underwrite, and deliver life insurance in under 5 minutes. iCover was built by industry insiders Hari Srinivasan and Nicole Mwesigwa who applied their 30+ years of InsurTech experience and intimate knowledge of automated underwriting technologies.
About KSKJ Life
KSKJ Life is a Christian, community-focused life insurance company that has provided financial security to its members and their families for over 127 years. Licensed to do business in 19 states across the US, KSKJ Life has experienced tremendous financial growth over the past decade reaching over $551 million in assets. Founded in Joliet, Illinois, KSKJ Life offers competitive life insurance and retirement products, premier personalized service and meaningful member benefits and programs, with over 50,000 members nationwide. As a not-for-profit organization, KSKJ Life makes a difference by reinvesting back into local communities and is dedicated to continuing its mission by helping families achieve financial security through the introduction of new products, increased technology and expansion of distribution channels.