Óptima Seguros Upgrades, Moves to Majesco CloudInsurer

The San Juan, Puerto Rico-based property and contingency insurer sought advanced and innovative capabilities that will help support Óptima’s growth strategy.

(Image credit: rlhochalter.)

Óptima Seguros (San Juan, Puerto Rico) has chosen to upgrade Majesco Policy for P&C and move from on-premise to Majesco CloudInsurer to bolster its growth strategy, according to a Majesco (Morristown, N.J.) statement.  Óptima Seguros has been a customer of Majesco’s since 2013 and is one of twenty Majesco customers in Puerto Rico, according to the vendor.

Jonathan A. Martínez, Head of Technology, Óptima.

A property and contingency insurer created and authorized to operate in Puerto Rico in 2006, Óptima was acquired by QBE (Sydney) in 2012, changing the company name to QBE Seguros. In late 2018, QBE Seguros signed an agreement for the acquisition of its Puerto Rico operations with Grupo Óptima, a Puerto Rican holding company and in August 2019, Grupo Óptima assumed the administration of the insurer upon completion of the regulatory process, operating under the Óptima Seguros brand.

“Óptima’s growth strategy demanded our ability to rapidly adapt to market opportunities, innovate and scale at speed,” comments Jonathan A. Martínez, Head of Technology, Óptima.  “Our long-term partnership with Majesco and their commitment to supporting the Puerto Rico market demonstrated by their stellar reputation for their robust cloud-based platform was a key factor in our decision to upgrade and move to the cloud. Our ability to deliver the products and service our customers expect, demanded next generation cloud solution like Majesco’s that delivers leading-edge business capabilities with cutting-edge technical architecture that delivers on our commitment to our customers. We look forward to our deepening and expanding partnership with Majesco.”

Prateek Kumar, EVP, P&C Business, Majesco.

Innovative Capabilities to Support Growth Strategy

Óptima has been using Majesco Policy and the out-of-box ISO Content to provide Commercial Package and Commercial Auto Insurance to its customers in Puerto Rico. Majesco Policy for P&C on Majesco CloudInsurer brings advanced and innovative capabilities that will help support Óptima’s growth strategy, according to the vendor.

“We are thrilled to deepen and extend our partnership with Óptima Seguros and help them move to the newest version of Majesco Policy for P&C on Majesco CloudInsurer,” comments Prateek Kumar, EVP, Majesco. “The demanding and unique needs of the Puerto Rican market highlight the strategic value of the Majesco solutions as a platform that delivers agility, innovation and speed while delivering a competitive, safe, scalable and secure operation.  We look forward to our growing partnership with Óptima.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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