(Image credit: Solomon Rodgers/Shadowfire Arts.)
Openly (Boston), a premium homeowners insurance carrier that affirms the agent distribution channel, has selected Majesco Billing for P&C on Majesco (Morristown, N.J.) CloudInsurer as a core component to its modern technology environment in order to provide increased flexibility, greater service and modern insurance experience to its customers, according to a vendor statement.
Matt Wielbut, CTO, Openly.
Founded in 2017, Openly’s approach to the market is to use novel data sources and insurance expertise to provide a more comprehensive personal home insurance coverage, greater customer service, and a modern experience. The insurer seeks to introduce a sense of transparency to the insurance marketplace that is illustrated across its comprehensive all risk products, distribution through knowledgeable independent agents, and the free flow of information with online policy contracts. Operating exclusively through independent agents, Openly currently only offers an annual billing option. With its continued state expansion and customer growth, the company needed a platform that would provide customers options and flexibility through direct and installment-based billing options, according to the Majesco statement.
“As we continue to expand our business, we remain committed to providing customers with next-gen capabilities that align with our standards of simple and transparent solutions,” comments Matt Wielbut, Co-Founder and CTO, Openly. “Majesco Billing for P&C on Majesco CloudInsurer supports our aggressive growth strategy and delivers a state-of-the-art SaaS platform that is easy to use, flexible and keeps us on the leading edge which our customers demand.”
Prateek Kumar, EVP, P&C Business, Majesco.
Majesco characterizes its Billing for P&C as addressing the imperative that billing no longer be considered a back-office function. “Market leaders understand billing is crucial to customer engagement and digital strategies—recognizing the growing demand for new payment methods, billing plans, access to real-time billing information, electronic billing options, let alone on-the-spot adjustments due to unprecedented market shifts,” the vendor statement asserts. The vendor describes Majesco Billing for P&C as a proven, scalable platform complete with rich, broad capabilities and out-of-the-box functionality, empowering companies to rapidly respond to market scenarios and customers’ demands, all through simple rule business configuration that keeps insurers at the leading edge of change.
Delivering an Experience Customers Expect
“We’re excited to partner with Openly and welcome them to our growing start-up, greenfield and MGA customer base as they continue to put the customer first and invest in leading technology that delivers flexibility and an experience customers expect today,” says Prateek Kumar, EVP–Americas, Majesco. “As a recognized market leading platform, Majesco Billing for P&C is a proven, scalable solution that helps companies address the growing demand for new payment methods, billing plans, access to real-time billing information, electronic billing options, and on-the-spot adjustments due to unprecedented market shifts, making all the difference in customer loyalty. We look forward to building on our relationship and working on future projects with the Openly team.”
Policygenius Partners with Openly to Distribute Tailored Homeowners Insurance