The new offering integrates with One Inc ClaimsPay, providing fast and secure digital claims payments through customers’ preferred channels and methods. The expansion also further strengthens the existing partnership between Majesco and One Inc, bringing an out-of-the-box integration and online payment capability to Majesco Billing for P&C platform.
Majesco is the partner that P&C and L&A insurers choose to create and deliver outstanding experiences for customers. Over 350 insurers, from greenfields and startups to some of the world’s largest insurers, rely on the insurtech’s SaaS platform solutions for core, data, analytics, digital, and rich ecosystem of partners to create their next now.
Expanded payment capability for Majesco
According to reports, the enhancement delivers a comprehensive inbound-outbound payment processing solution for Majesco customers across the entire P&C Suite.
Speaking about the new payment launch, Terrence Clark, GM and SVP for P&C Solutions at Majesco, explained: “One Inc continues to bring next-gen payment solutions that are top of mind for our customers. This expanded capability and integration will help our customers meet the increasing demand for digital payments that will increase customer retention, reduce costs, and reduce risk through secure digital payments based on the customers’ preferred channel and methods. We’re excited to bring this new capability to our customer base and look forward to deepening our partnership with the One Inc team.”
The new digital payment offering is available to Majesco Claims for P&C customers, offering choice and an enriched customer experience to enhance customer retention and satisfaction. Payments can be disbursed to single or multi-party insurers or claimants, vendors, or lienholders, and the payee has the option to select their own payment method, including check, direct deposit, pre-paid debit card, PayPal, or Venmo.
It offers built-in electronic approvals and electronically manages the processing, issuance, and recording of payments. The out-of-the-box integration allows customers to quickly implement and handle digital payments seamlessly. This expanded capability meets the rapidly growing expectation of insurance customers, both consumers and business owners, for digital inbound and outbound payments, as identified in Majesco’s annual consumer and SMB research.
“As a long-standing partner of Majesco’s, we look forward to the opportunity to strengthen our role in Majesco’s collaborative partner ecosystem and expand how together we can help Majesco carriers deliver fast, convenient, and secure digital claims payments,” said Ian Drysdale of One Inc.
He added: “Our previous success with premium payments is a direct reflection of our shared vision and mission to provide insurers a future-proof, robust, digital payments solution that meets their customers’ expectations.”
Join Majesco experts in New York at ITI USA
To find out more about Majesco’s latest strategies and innovations, join their Chief Strategy Officer, Denise Garth at Insurtech Insights USA 2023 on June 7th and 8th, at the Javits Center in New York. Denis will be discussing the future of the insurance industry in the session: ‘What Will the Insurance Marketplace of 2030 look like?‘
To find out more, click here
