(Midtown, New York City, home to Majesco’s headquarters. Photo credit: Anthony Quintano.)
Ambac Financial Group, Inc. has selected Majesco’s (Morristown, N.J.) Majesco Policy for P&C, Majesco Billing for P&C and Majesco Digital1st on Majesco Cloud Platform to provide a modern foundation for its insurance distribution division, Cirrata Group.
Ambac Financial Group is a financial services holding company headquartered in New York City. Its Cirrata Group division is dedicated to providing specialty property/casualty MGAs/MGUs with advanced technology, analytics, and services to grow.
“We are excited to partner with the Majesco team as we continue to expand Cirrata Group,” comments Dan McGinnis, COO, Ambac. “Majesco’s cloud-native platform will provide our MGAs the flexibility and speed they need to meet the growing demands of customers.”
Advanced Underwriting Workbench
Among other objectives, Cirrata Group seeks to create an advanced underwriting workbench that delivers a consistent, unified user experience to MGAs. Majesco Digital1st will rapidly deliver an intelligent, insight-driven solution to enhance underwriting efficiency and profitability, portfolio optimization, and create greater transparency and collaboration with MGAs and brokers, the vendor asserts.
“We are excited that Ambac Financial Group will be leveraging Majesco’s industry leading solutions to optimize and innovate their business to drive growth,” says Prateek Kumar, EVP Sales, Americas at Majesco. “As Ambac Financial Group continues to execute on its strategic vision, geared towards product innovation and prioritization of the customer experience, we are excited to partner with them on this journey.”