AmCap partners with Majesco to digitalize core

American Capital Assurance Corp has selected Majesco Suite to improve its policy, billing, claims, distribution, and business analytics needs, the companies announced.

AmCap Insurance, headquartered in St. Petersburg, Florida, offers protection on property such as condos, homes, townhouses, and office buildings. The implementation of the Majesco suite will allow the insurer to manage its business from the inside, as opposed to outsourcing the work to an external provider.

Residential buildings at the My Manhattan development, left, stands along a road in the Simei area of Singapore, on Saturday, June 3, 2017. Hunger for Singapore land is adding to signs the city’s housing market is making a comeback after three years of declining prices. With new home sales surging after an easing of property restrictions in March, developers are becoming more aggressive in bidding at land auctions. Photographer: Sanjit Das/Bloomberg

“Our ability to deliver on this in today’s fast-paced changing commercial market was a critical factor in our selection process,” said Steve Wagner, president and CEO of AmCap Insurance. “Majesco’s solutions, track record and proven implementation methodology delivering speed to value stood apart from other vendors. We look forward to our strategic partnership with Majesco.”

“We are thrilled to have AmCap Insurance as a customer using our full portfolio of P&C solutions,” said Prateek Kumar, EVP for P&C Insurance for Majesco. “Increasingly speed to value including speed to implementation, speed to market and speed to revenue are strategic factors that determine an insurance company’s competitiveness in the marketplace.”

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