(Image credit: Alfred Palmer/Library of Congress.)
Ullico Casualty Group, LLC (UCG), a wholly-owned subsidiary of Ullico, Inc. (Washington, D.C.), has selected Majesco (Morristown) P&C Core Suite and Majesco Enterprise Data Warehouse on Majesco CloudInsurer as a foundation for the company’s digital transformation and growth strategy.
Ullico, Inc., founded in 1927 with initial funding from the American Federation of Labor, is the nation’s only union-owned provider of multi-line insurance, financial services and administrative products. UCG provides various commercial, business owners, cyber, bonds, fiduciary liability, union liability, and other insurance products to union pension and benefit plans, labor officials, and labor organizations for all 50 states. The company’s mission has been to provide innovative coverages for labor, such as its Individual Labor Leader, Investigatory Expense, and Educator’s Liability endorsements. UCG writes policies as a Managing General Agent with multiple A.M. Best A rated insurers as of September 30, 2019.
Capturing Growth Opportunities
“Over our history, Ullico has been at the forefront in providing insurance products that meet Labor’s needs,” says Tina Fletcher, President, UCG. “With the emergence of the digital era and rapid changes in the marketplace, we needed new technology to underpin our digital transformation so that we would be able to respond and capture growth opportunities.” stated
Fletcher says that Majesco stood out over the course of an in-depth and detailed selection process because the vendor’s core suite delivers advanced capabilities and embedded industry best practices. She cites an exceptional user experience and a mature cloud offering that Ullico identified as a platform to enable the company to deliver a world-class customer experience and products. “We look forward to our partnership with Majesco and what we will be able to deliver together to our customers,” she comments.
The selection of Majesco’s systems comes during a growth period for UCG, the realization of which requires modernization with a new technology platform to support growth in existing and new lines of business to meet the evolving needs of their customers while gaining operational optimization and speed to value, Fletcher affirms. Key criteria for UCG’s selection of Majesco’s technology included pre-configured industry best practices and market leading capabilities, customer panoramic view of quote to underwriting, policy and claims to deliver a world-class experience, enable UCG self-sufficiency from configuration, upgrades, testing and deployment, and achieve a predictable and low total cost of ownership leveraging mature cloud capabilities and operation.
Decades of Trust and Innovation
“We are excited and honored by UCG’s selection of Majesco solutions to underpin their transformation that builds on their decades of trust and innovation,” comments Prateek Kumar, EVP of Majesco. “Our solutions have rapidly evolved to help insurers modernize and optimize their business, but also innovate with new products, services and more that meet a rapidly changing market demographic and new risk needs on our mature, robust CloudInsurer™ platform. We look forward to our partnership and delivering speed of value to UCG and their customers.”