Protective Insurance Selects Majesco P&C Core Suite for Commercial Auto and Workers' Compensation Lines of Business on Majesco CloudInsurer® to Accelerate their Digital Transformation

Majesco (NASDAQ: MJCO), a global leader of cloud insurance software, today announced that Protective Insurance selected Majesco P&C Core Suite for Commercial Auto and Workers' Compensation claims and billing solutions on Majesco CloudInsurer® to replace legacy solutions and modernize and optimize their business operation and accelerate their digital transformation strategy.

With more than 90 years of experience, Protective Insurance Company specializes in providing insurance for the transportation industry. Licensed in all 50 states, the District of Columbia, Puerto Rico and all Canadian provinces, Protective provides tailored insurance programs to trucking fleets. Its products are backed by a dedicated safety services team, experienced claims management and superior customer service.

"We're committed to modernizing our existing systems by bringing innovative, business solutions to the cloud. This technology transformation will give us the flexibility to make the right decisions; to pivot our direction with minimal impact to our business," said Jeremy Johnson, CEO of Protective Insurance. "After a detailed and careful selection process, Majesco stood out with a core suite that delivers advanced capabilities, user-friendly functionality, mature cloud platform that integrates with the transformation program already underway, and a track record of rapid and successful delivery that will help accelerate our digital transformation and vision for the future of insurance."

Key to the selection was Majesco's next-generation core suite with out-of-the-box capabilities, robust functionality and flexible configuration, strong roadmap, mature cloud platform, and a track record of rapid and successful delivery that directly aligned with Protective's vision of creating a new business model that better serves today's digital-focused customer. The ability to easily leverage data from Majesco's systems combined with the configurability and functionality of its core suite will be crucial to fuelling their strategy for innovation and growth. The first phase of the project will focus on commercial auto followed by a second phase that will implement workers' compensation.

"Protective's digital business vision is very much aligned with Majesco's vision, making this partnership seamless from the start," says Adam Elster, CEO of Majesco. "Our SaaS and Cloud core platforms have become the de-facto software-delivery model for insurance, and we're thrilled Protective has chosen Majesco to help keep them at the forefront of the industry and lead in this new era of insurance."

Shares of Majesco Ltd was last trading in BSE at Rs.511.9 as compared to the previous close of Rs. 487.55. The total number of shares traded during the day was 200 in over 8 trades.

The stock hit an intraday high of Rs. 511.9 and intraday low of 511.9. The net turnover during the day was Rs. 102380.

Source : Equity Bulls

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