Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Multinational Insurance Company Completes Upgrade of Majesco Policy for P&C from On-Premise to Majesco CloudInsurer® to Bolster Growth Strategy

Posted On: 2020-06-03 10:20:39


Majesco (NASDAQ: MJCO), a global leader of cloud insurance software platform, today announced that long-time customer, Multinational Insurance Company completed its upgrade of Majesco Policy for P&C from an older version onpremise to the newest version on Majesco CloudInsurer® for their commercial lines operation. Multinational Insurance has been a customer of Majesco's since 2012 and is one of twenty Majesco customers in Puerto Rico.

Established in 1983, the Multinational Group has spent over thirty years expanding its operations and acquiring insurance companies of high prestige throughout Latin American and the Caribbean, including Puerto Rico. In 2017, the organization began their journey to move their core applications to the cloud to ensure business continuity and guarantee availability of their systems and operations. By working with a partner like Majesco, who has a well-defined disaster recovery process, they are now able to run business critical applications in secondary sites in the event the primary ones go down.

"Majesco's CloudInsurer® has improved our overall performance and given us the ability to scale on-demand as we no longer need to depend on servers with limited capacity," says Mary Vargas, Vice President of Information Technology & Systems at Multinational. "We've also been able to limit the amount of manual resources needed to manage the administration of our infrastructure, servers and networking which has allowed us to focus more on the critical day-to-day business functions that require our attention. This was a cross-collaborative effort combining adept cloud skills from Majesco and exceptional support from all Multinational team members for achieving this upgrade."

By moving to Majesco's CloudInsurer®, Multinational has benefited from significant cost savings on licensing software that are typically used for web, application and database services. In addition, customers can now rely on a single source for managing service levels including application availability, platform updates, release management and incident response rather than coordinating with various parties.

"We're thrilled to have helped Multinational upgrade Majesco Policy for P&C and at the same time move to CloudInsurer® to strengthen their operations that can support their growth strategy in the market," says Prateek Kumar, EVP for Majesco. "Our CloudInsurer® platform with Majesco Policy for P&C are a competitive differentiator for customers because of the ready-to-use content and capabilities that accelerate speed to market, providing the foundation of on demand insurance in the cloud."

Shares of Majesco Ltd was last trading in BSE at Rs.345.6 as compared to the previous close of Rs. 329.15. The total number of shares traded during the day was 9050 in over 223 trades.

The stock hit an intraday high of Rs. 345.6 and intraday low of 320. The net turnover during the day was Rs. 3111786.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

HDFC ERGO Launches Corona Kavach Policy

Karnataka Bank reports earnings for Q1FY21

Gujarat Narmada Valley Fertilizers and Chemicals Ltd Board recommends Dividend of Rs. 5 for FY20

IRB Infra enters Eastern India territory

ITC Ltd board to announce Q1FY21 results on July 24, 2020

Manappuram Finance Ltd raises Rs. 178 crore through NCDs

BASF India Limited approves acquisition of BASF Performance Polyamides

Goa Carbon Ltd resumes operations at Goa plant from July 9, 2020

IRCTC board recommends final dividend of Rs. 2.50 for FY20

Ircon International Limited board recommends final dividend of Rs. 2.06

Rajapalayam Mills Ltd board to consider 1st quarter results on Aug 12, 2020

G N A Axles Ltd board to approve Q1FY21 results on July 17, 2020

Crompton Greaves Consumer Electricals Ltd board to announce 1QFY21 results on July 24, 2020

Modern Insulators Limited approves formation JV with Sikka Engineering Company for Railway EPC tender

SAIL Q4 consolidated PAT soars to Rs. 2647.52 crore

GNFC Q4 consolidated PAT jumps to Rs. 240.01 crore

Standard Surfactants Ltd reports Rs. 0.0258 crore loss in Q4FY2020

Future Consumer Ltd posts loss of Rs. 175.33 crore in Q4 FY2020

Meera Industries Ltd H2 loss at Rs. 1.10 crore

Somi Conveyor Beltings Ltd Q4 PAT jumps to Rs. 1.61 crore

IRCTC reports Rs. 150.60 crore PAT in Q4 FY2020

IRCON International Ltd reports consolidated Q4FY20 PAT of Rs. 115.40 crore

Euro Leder Fashion Ltd posts loss of Rs. 0.09 crore in Q4 FY20

Sangal Papers Ltd Q4 PAT at Rs. 0.46 crore

Nitin Castings Ltd Q4FY20 loss at Rs. 0.44 crore

Vardhman Polytex Ltd reports surge in Q4FY20 consolidated net profit to Rs. 161.58 crore

Lakshmi Vilas Bank Ltd Q4 net profit at Rs. 92.86 crore

Kanco Tea & Industries Ltd posts consolidated loss of Rs. 11.31 crore in Q4 FY20

Savita Oil Technologies Ltd Q4 FY20 net profit slips to Rs. 20.60 crore

Karnataka Bank Ltd Q1FY21 PAT surges to Rs. 196.38 crore

Unichem Laboratories Ltd receives ANDA approval for Baclofen Tablets

Vishal Fabrics Ltd Q4 PAT at Rs. 5.12 crore

Marico Ltd board to announce Q1FY21 results on July 27, 2020

GAIL to invest in Start-Ups operating in the area of Compressed Bio Gas, Solicitation Round open tm July 24, 2020

Tata Motors Group global wholesales at 91,594 in Q1 FY21

YES Bank Ltd board approves floor price of Rs. 12 for FPO

Newgen Software Technologies Ltd board to consider 1st quarter results on July 22, 2020

ICRA reaffirms rating of Puravankara Limited

NATCO settles on Lenalidomide for Canada

IndusInd Bank launches redesigned website to enhance customer experience

Muthoot M George Foundation launches Muthoot Vivahasammanam

Relaxo Foundation salutes the Unsung Warriors by contributing 25000 pairs of slippers to MCD sanitation workers

ITC Ltd.'s Sunfeast YiPPee! created a digital mosaic with pictures of Dhoni fans on the occasion of Dhoni's birthday

TRENT Ltd board to approve 1st quarter results on Aug 5, 2020

ITC Ltd forms subsidiary ITC IndiVision Limited

Celent Recognizes Majesco with XCelent Award for Depth of Service in the North American Policy Administration Systems 2020 Personal, Commercial and Specialty ABCD Vendor View Report

Sadbhav Engineering Ltd reports Rs. 886.63 crore PAT in Q4 FY20

NLC India Ltd's project in Andaman commissioned

Swarnsarita Gems Ltd Q4 consolidated PAT at Rs. 0.26 crore

PNB Housing Finance Ltd reworks business plan for FY2020-21







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019