(Detail of EBP app screenshot. Source: Majesco.)
Majesco (Morristown, N.J.), a global provider of core insurance software and consulting services, its release of a new digital online billing and payments app, Electronic Billing & Payments (EBP). Majesco reports that the app is powered by the cloud-native Majesco Digital1stPlatform and integrated with CyberSource, Visa’s (Foster City, Calif.) payment management platform, which is now available on the Majesco Digital1stEcoExchange.
Majesco pitches EBP as enabling insurers to make billing and payment digital and easier for their agents and customers. The vendor reports that its research indicates that 55-70 percent of customers across all generational segments want digital and mobile bill payment capabilities. The EBP app supports that expectation through capabilities such as self-registration, guest payment, management of multiple policies, one-time or recurring payments, credit card and ACH, and the ability to view invoices and payment history available via the desktop or mobile device, the vendor says.
“We are extremely excited to offer this innovative Electronic Billing & Payments app, built on the cloud-native Majesco Digital1stPlatform and with an option of using the CyberSource platform to securely and conveniently accept credit card and ACH payments,” comments Manish Shah, EVP of product, Majesco. “EBP is a cloud-native SaaS offering which can be quickly white-labeled consistent with insurer’s corporate branding and rolled out into production in as little as two weeks with robust operational SLA, security and compliance without any licensing costs. This new app demonstrates the power of Majesco Digital1stInsurance and our Majesco Digital1stEcoExchange marketplace to meet this demand in an innovative, yet scalable way that will continue to easily adapt as insurance customer’s expectations continue to shift.”
The Majesco Electronic Billing & Payments app is available on a secure, scalable cloud and offers the following, per the vendor’s description:
- Online billing and payment features with a user interface optimized for desktop and mobile devices
- Rapid rollout in as little as two weeks
- Pre-integration with Majesco Billing for P&C for version 10 or later
- Easy to integrate with non-Majesco billing core systems,
- No license fees, rather price based on registered number of policies
- 24 x 7 with robust operational SLA and uptime guarantee
- Free ongoing upgrades
“We are thrilled to deepen our collaboration with Majesco in servicing mutual clients across the insurance industry, helping facilitate a secure and frictionless payment experience,” comments Dominic Brown, senior director, business development, Visa. “Being pre-integrated and officially part of the EcoExchange allows our mutual insurance clients to more easily implement our solutions and get up and running quickly, which often translates to quick savings and speed to revenue for our clients.”
Majesco describes Digital1stInsurance as a microservices-based, multitenant cloud platform enabling digital transformation for insurers. The platform has the ability to subscribe to third-party services and real-time data sources that traditional core systems cannot effectively support and is configurable for different customer and user personas. The vendor says Digitial1stInsurance is built to support experimentation and launching of new business models, with the ability to rapidly scale, and that it adapts to different cost structures which are often the difference between success and failure in the on-demand economy. Majesco describes its Digital1st EcoExchange as the next generation of the partner ecosystem hub, using third-party services with a standard semantic layer for easy integration and a true “plug-and-play” environment for both traditional and InsurTech partners.