Risk & Compliance Solutions
Insurance Risk Management Software Solutions
Drive Intelligent Risk Insights
To meet the shifting and growing risk landscape, insurers must focus on proactive risk management across their portfolio to drive underwriting profitability and identify proactive risk mitigation opportunities. Majesco’s Copilot can assist in risk management with its auto generated recommendations from intelligent insights and experience.
Deeply Integrated
Deeply integrated with P&C Intelligent Core, loss control expands risk assessments that can transform underwriting, prevent future loss, enhance customer experiences, and improve profitability by creating deeper insight into specific policies and your portfolio. Now with our API enhancements, you can sync data between multiple systems improving processing speed, freeing up resources for additional jobs.
AI/ML Driven
Today’s increased catastrophes, growing risk environment, and pressure on profitability demand a greater focus on assessing risk to create better outcomes through accurate underwriting, initiative-taking risk mitigation and prevention, and enhanced customer experiences using digital loss control and AI/ML models.
Risk Management Strategies
The adage of “control what you can control” is now front and center for insurers as they look at new risk management strategies and solutions as a crucial component of underwriting and customer service strategy. Insurers are increasingly focusing their time and resources on how they can better assess risk and prevent losses that can improve underwriting profitability and customer experiences.
Loss Control Solutions
Enhanced Underwriting Accuracy
- Leverage AI-driven models and analytics to conduct comprehensive risk assessments, enabling more accurate underwriting decisions and pricing strategies.
- Gain access to real-time data and analytics, allowing for a deeper understanding of risk factors and potential loss scenarios.
- Proactively identify high-risk areas and take preventive actions to minimize claims, leading to reduced loss ratios and improved overall profitability.
Optimized Risk Mitigation & Prevention:
- Utilize the solution’s intelligence-driven approach to identify emerging risks and take timely preventive measures, reducing the likelihood of costly losses.
- Tailor loss control strategies to specific business segments, enabling more effective risk mitigation that aligns with each client’s unique needs.
- Streamline loss control operations with digital tools, automated workflows, and real-time data accessibility, enhancing the efficiency of risk management efforts.
Superior Customer Experiences
- Provide clients with personalized risk insights and actionable recommendations, demonstrating a commitment to understanding their individual needs and concerns.
- Deliver a seamless customer experience through digital interactions, self-service tools, and real-time risk assessments, fostering trust and loyalty among policyholders.
- Offer value-added services to empower clients in proactively safeguarding their assets and reducing potential losses.
“As the premier P&C underwriting service company, we needed a partner that was not only aligned with our customer-centric strategy, but also offered innovative solutions to back it. Majesco Loss Control and Majesco Property Intelligence allows us to quickly expand our service offering and bring risk recommendation management AI powered virtual property scoring to our customers.”
Charles Stahler, CEO, National Safety and Risk
Featured Resources
Blog
Digital Underwriting for Commercial and Specialty Insurance is Now a “No-Brainer”
You’ve just visited the grocery store and it’s likely that you made a choice at the checkout. Did you scan and bag your items, or did you let a cashier scan and bag them for you? This may depend upon just how many groceries you purchased or how you feel about your store’s tech level.…
Blog
Taming the Circus of Commercial Underwriting
Circus trivia: What is a funambulist? Five years after closing down, Ringling Brothers announced earlier this year that it would return to the circus business — only this time, without the controversy of animals.[i] It will rely upon a greater selection of human performances and high-flying acts, one of which will certainly be tightrope walking.…
FAQ
A loss control platform manages the entire loss control survey process on insured properties. This includes ordering, assignment to field-staff, quality assurance, underwriting, and recommendation follow up. Survey reports, and recommendation letters are generated for underwriters and insureds and this data can be stored in the platform as a system of record.
Premium Audit software helps insurance companies facilitate a periodic review to make sure the estimated workers compensation premium established at the beginning of the policy period accurately reflects any changes in business operations and/or payroll that may have occurred since the policy was issued.
