Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Arch Insurance Group, Inc. (Arch Insurance) implemented Majesco Billing for P&C on Majesco CloudInsurer™ in seven months.
Arch Insurance is part of Arch Capital Group Ltd., a Bermuda-based company that provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries. Arch Insurance aims to provide its customers with superb coverage and service through businessfriendly solutions.
"Insurance customers are demanding new levels of billing service, and Arch's commitment to a superior client experience requires supporting a variety of payment options, customizable bill plans and access to real-time billing information. Our strategic partnership with Majesco and this initial implementation enable Arch to meet those needs." stated Tom Ahern, EVP & Chief Financial Officer for Arch Insurance.
Arch's implementation is the first phase of a multi-phased enterprise initiative that will replace multiple legacy billing solutions.
"We are thrilled to be partnering with Arch Insurance to deliver on their strong commitment to service," stated Prateek Kumar, EVP for Majesco. "In today's continued rapid shift to a new digital era of insurance, billing solutions are at the forefront of meeting customer expectations. Our deep understanding and experience in delivering billing capabilities for today and the future, provide our customers a platform to rapidly launch and achieve growth and service excellence strategies. We look forward to the future phases and our partnership with Arch Insurance."
Shares of Majesco Ltd was last trading in BSE at Rs.420.2 as compared to the previous close of Rs. 422.25. The total number of shares traded during the day was 853 in over 72 trades.
The stock hit an intraday high of Rs. 424.95 and intraday low of 414. The net turnover during the day was Rs. 359069.