Majesco (NASDAQ: MJCO), a global provider of cloud insurance platform software, today announced its Technology Services unit enabled United Educators (UE) to successfully implement Robotic Process Automation (RPA) to optimize business operations by reducing manual processes and improving the customer experience.
UE is education's answer to the distinct risks and opportunities surrounding every school and campus today. Created by the member institutions it serves, UE is an education-specific liability insurance company, mission-driven to understand and respond to its 1,600 members, their challenges, and the complex pace of change affecting education.
UE addresses its members unique risks through personalized underwriting resulting in tailored coverage. However, the lengthy 13-step underwriting process required the attention of several staff members and was slow and time consuming. With the help of RPA, UE transformed the process to one which is standardized, speedy, and scalable.
"Our custom underwriting service is what sets us apart from other carriers. By leveraging RPA, we're now able to grow our business without staffing constraints while decreasing underwriting time to completion" says Bryan Elie, UE's vice president for underwriting. "With the help of Majesco, we were able to respond to market demands, enhance our customer experience, and quickly implement this new tool and automated process for our new telemedicine endorsement in just two weeks, while in the middle of the COVID-19 pandemic."
Additionally, Majesco helped UE design and automate a standard schedule based on business need. This schedule and tracking system, in addition to business rules, allows UE to schedule run times throughout the year to help improve operational efficiency. For example, with the custom RPA, UE is now able to automate pre-renewal underwriting processes during their busiest season - an improvement of 75% compared to the manual process.
"We're thrilled to help United Educators establish a strong foundation for their digital transformation journey," state Jim Miller, Chief Revenue Officer at Majesco. "Our longterm partnership with UE is expanding from an operational to a strategic focus and we're excited about future projects that will further accelerate their digital transformation and grow their business."
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