Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Cannon Cochran Management Services Inc. (CCMSI), the largest privately held third-party administrator and an MGA in the U.S., is live on Majesco Policy and Billing for P&C and Majesco Insurance Data & Analytics Platform on Majesco CloudInsurer™.
By replacing their legacy systems with Majesco's cloud-based solutions CCMSI will accelerate their ability to create innovative, custom multi-line P&C programs for the thousands of customers of all sizes and deliver customer service that meets their high standards.
This first phase of the implementation, for CCMSI's Workers Compensation line of business, included multiple carrier programs across multiple states, all with their own rules and processes, which CCMSI has now streamlined and standardized. The entire project, from initiation to "go live" took 11 months, and CCMSI will begin implementing next phases for five additional lines of business very soon.
"CCMSI is committed to creating innovative multi-line property and casualty solutions for thousands of companies, both large and small," commented Kerry Rademacher, VP of Underwriting at CCMSI. "Our partnership with Majesco is critical to our ability to offer our customers a boutique experience with all the resources of a powerhouse. We are excited that this first phase of our implementation is complete and look forward to seeing the same results across our other lines of business."
"Majesco's cloud-based core solutions, united with our data and analytics platform, is helping companies like CCMSI transform complexity into simple experiences that make innovation and decision-making faster and easier," said Prateek Kumar, EVP at Majesco. "We are thrilled to partner with CCMSI, a company who values innovation and transparency backed by quality service, expertise and state of the art technology aligns with our own vision for the future of insurance."
Shares of Majesco Ltd was last trading in BSE at Rs.445.95 as compared to the previous close of Rs. 441.5. The total number of shares traded during the day was 4805 in over 614 trades.
The stock hit an intraday high of Rs. 455 and intraday low of 435. The net turnover during the day was Rs. 2127936.