The Andover Companies Select Majesco’s LossControl360 for Commercial and Personal Lines to Enable Underwriting Innovation
Implementation will drive business efficiencies, automate processes, and optimize underwriting
MORRISTOWN, N.J.–(BUSINESS WIRE)–Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced that The Andover Companies, a leading multi-line personal and commercial insurance company selected Utilant LossControl360 for its commercial and personal lines business, based on the platform’s extensive capabilities. Utilant was recently acquired by Majesco.
The Andover Companies is made up of three subsidiaries — Merrimack Mutual, Cambridge Mutual, and Bay State Insurance — and delivers policyholders and independent insurance agents insurance solutions for almost every type of property and budget. By partnering with the team, Andover plans to drive business optimization by automating the ordering and assignment of loss control surveys, as well as reduce the time underwriters spend on recommendation tracking and follow-up to help customers manage risk. As Andover works to redefine and innovate its underwriting operations, LossControl360 will provide a centralized system of record for its underwriters to evaluate risks and drive better underwriting decisions. Andover plans to use LC360 as an actionable centralized database for its loss control information.
“As our customer base and the complexity of risk continue to grow, we needed a solution that could optimize and streamline our underwriting process while enabling recommendations for tracking and follow-up to manage the risk,” said Paul Nadeau, Executive Vice President of The Andover Companies. “We recognized that LC360’s industry-leading solution, deep expertise in loss control, and product roadmap will keep us on the leading edge of risk management, underwriting, and customer service.”
LossControl360 is the best-in-class loss control survey management platform used globally by leading property and casualty insurance carriers and top risk engineering companies. Its core plug-in architecture helps organizations configure implementation for multiple lines of business.
“We’re thrilled to partner with The Andover Companies as it works to modernize and optimize operations,” says Patrick Davis, SVP & GM of Data & Analytics at Majesco. “LossControl360 streamlines data collection, equipping field staff with cutting-edge offline-capable mobile technology with an intuitive interface that improves turnaround time and accuracy. We look forward to a long-term relationship with The Andover Companies and to provide the agency with solutions that will enable the support, consistency, and reliability their customers have grown accustomed to.”
About Majesco
Majesco is the leading software partner to both the P&C and L&A insurance markets to modernize, optimize and innovate their businesses at speed and scale. Over 330 insurers, from greenfields, start-ups and MGAs to the largest insurers, reinsurers and brokers use Majesco’s next generation SaaS platform solutions of core, data, and analytics, digital, distribution, absence management and a rich ecosystem marketplace of established and InsurTech partners to build the future of insurance.
Our technology, expertise and leadership help insurers innovate and connect to build the future of their business. With over 825 successful implementations and over 65% of our customers on Cloud with Majesco platform solutions, together we have an amazing track record of innovation and real-world results. For more details on Majesco, please visit www.majesco.com.
About The Andover Companies
The Andover Companies is one of the largest and longest-standing property and casualty mutual insurance groups in the Northeast, writing business across Massachusetts, Maine, New Hampshire, Rhode Island, Connecticut, New York, New Jersey, and Illinois. Consistently rated “A” or higher by the A.M. Best Co. for over a century, we provide insurance products and services that shield personal and commercial properties and their owners from risk. As our company approaches its 200th year in business, we are just as committed as our founders were to protecting our policyholders and continuing to build the most reliable network of local and independent insurance agents in the region. This unwavering ambition to safeguard our neighbors and communities is what gives us our staying power. For more information, visit www.andovercompanies.com.
Contacts
Laura Tillotson
Director, Marketing Communications and Creative Services
+ 201 230 0752
[email protected]
