(Coast Guard Barque Eagle sails into San Juan, Puerto Rico, home of One Alliance. Source: U.S. Coast Guard.)
One Alliance Insurance Corporation (San Juan, Puerto Rico) has selected Majesco’s (Morristown, N.J.) Policy for P&C policy administration system and Majesco Bureau and Content Services to constitute the insurer’s strategic enterprise platform.
“As a fresh start-up, One Alliance will offer a wide range of new commercial products,” notes Victor R. Rios CEO, One Alliance. “Majesco’s successful track record in the Puerto Rican market and with other start-ups and green field insurers were key factors in our selection. Majesco Policy’s robust pre-built content and ISO products are designed to lower implementation risk and cost while significantly increasing speed to market. We are excited about our potential together as long-term partners.”
Majesco Policy will support One Alliance for commercial auto and commercial package lines of business including commercial property, general liability, inland marine and crime, the vendor reports. Majesco Bureau and Content Services will provide ongoing updates for ISO content.
Green Field Insurers
“We are excited to include One Alliance into our growing customer base and growing group of innovative start-ups and green field insurers,” comments Ed Ossie, COO, Majesco. “Our focus on providing insurers like One Alliance with content-rich, pre-built ISO products within Majesco Policy for P&C, is designed to enable them to respond to a rapidly changing market dynamic and new commercial risk opportunities through agility, innovation and speed to market capabilities.”
Majesco describes the Majesco Policy for P&C offering as providing pre-configured ISO content, including all rates, rules, forms, taxes, fees, and surcharges for 52 jurisdictions (including DC and Puerto Rico) and also provides a well experienced monthly bureau content update service. The vendor asserts that, together, the preconfigured bureau content and Majesco Bureau and Content Services enable agility, rapid product innovation and speed to market opportunities for insurance companies to introduce new products and reach new markets quickly and cost effectively to capture market share.