Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, has announced that Kookmin Best Insurance Company US Branch (KBICUS), the US operation of KB Financial Group based in South Korea, is live with Majesco P&C Core Suite on CloudInsurer™, Majesco Digital1st Insurance Electronic Billing and Payments, and Majesco Enterprise Data Warehouse.
With an A.M. Best Rating of A (Excellent), KBICUS provides top class insurance services to small and mid-sized businesses throughout CA, NJ and NY. Headquartered in Ridgefield Park, New Jersey, with a branch office in Glendale, California, KBICUS provides commercial insurance, including business owners policy and commercial property and umbrella coverage.
"KBIC US is focused on becoming the industry's leader in terms of customer value. Because of our close relationships with customers, KBIC US has a better understanding of their unique, diverse needs and wants and can design our products accordingly, and with a multicultural and multilingual perspective in mind," commented Christopher Kwon, President at KBIC US Branch. "We appreciate the care, effort and follow up from Majesco as we partner with them to implement the system that will help us continue to deliver the best possible products and services to our customers and their businesses."
Majesco CloudInsurer™ is helping insurers take advantage of new markets, new products and new paths to growth. With Majesco P&C Core Suite, Majesco is redefining speed - helping insurers transform complexity, create innovation, and meet the demands of a new generation of insurance. The suite delivers end-to-end capabilities to streamline the entire insurance lifecycle with policy through billing and claims. The powerful design allows for rapid adaptation for new, innovative products, enabling insurers to implement a new foundation for growth and innovation in as little as 12 weeks.
"We are honored to welcome KBIC to our customer community," commented Ed Ossie, COO for Majesco. "The growth opportunities in the commercial lines of business with new, innovative products that are being demanded by small and medium business owners is just beginning. Our deep experience and knowledge of this market segment, combined with our robust capabilities is a game-changer in terms of helping companies capture these market opportunities and meet their customer's unique needs. We are excited to be KBICUS's partner of choice as they continue on their path of transformation and growth in today's post digital age."
Shares of Majesco Ltd was last trading in BSE at Rs.416 as compared to the previous close of Rs. 422.25. The total number of shares traded during the day was 771 in over 157 trades.
The stock hit an intraday high of Rs. 425 and intraday low of 414.75. The net turnover during the day was Rs. 322606.