Insurance Newcomer Clear Blue Selects Majesco for MGA, Data Store Needs
Newly formed Clear Blue Financial Holdings LLC announced Majesco will implement an MGA portal and operational data store to help enable its growth strategies.
The Puerto-Rico based insurer will specialize in general liability insurance and commercial auto lines of business, according to the company, after launching in December with two fully-licensed carriers, RLI Indemnity and Specialty Insurance, which have since been renamed. Both businesses are operable in 49 states as well as the District of Columbia. The startup is backed by private equity firm, Pine Brook.
“As a new startup focused on distributing through key MGAs, our ability to leverage Majesco’s robust data offerings to rapidly enable our program business growth was a critical factor in the selection,” said Peter Klope, COO of Clear Blue, in a press release. “Our primary goal for storing and managing data from our distribution channel is to provide high quality data services and analytics back to our producers and reinsurers. Majesco’s experience and deep understanding of both new start-ups and data management provides unique value to our efforts, better enabling us to achieve this goal.”