Investors will become even more pragmatic and disciplined, narrowing their focus to more mature InsurTechs displaying measurable traction and whose products and services are higher on the insurance industry’s adoption curve.
Beyond digital transformation based on largely proven technology, insurers must patiently explore the capacity of emerging technologies, such as AI and Big Data, for reshaping business processes over the longer term.
The three live programs live on Majesco P&C Core Suite on CloudInsurer are focused across property, liability and commercial auto with the most recent two brought to market within 22 weeks.
The 120-year-old Texas-based insurer has selected Majesco P&C Core Suite Version 11 and will implement Majesco Enterprise Data Warehouse (EDW) on Majesco CloudInsurer as part of its business transformation.
Seeking to increase speed-to-market and operational agility, the construction industry-focused commercial insurer cites modern technology, and the alignment of company values and culture as key factors in choosing the vendor.
In his virtual presentation, Mike Rosenbaum spoke of the momentum of Guidewire’s cloud journey and addressed how the company has fulfilled its commitment to deliver new releases biannually, first with Aspen in June and Banff in November.
The implementation establishes a foundation for Hansard to transform and expand its international business model.
The new release fulfills the vendor’s commitment to new releases every six months as part of its cloud- and product-focused strategy.
One of the P&C industry’s most established core technology providers brings aboard a smaller vendor with a focus on cloud-native technology and personal lines.
CodeObjects’ enterprise-grade personal lines solution complements Insurity’s well-established commercial lines solutions, positioning the vendor better-serve a growing client base.