Majesco Integrates ACORD Solution Group’s ADEPT to Improve Speed, Accuracy and Security of Data Exchange

Majesco, a global leader of cloud insurance platform software for insurance business transformation, announced plans to extend its long-time partnership with ACORD, integrating Majesco’s Core Suite for P&C with ACORD Solutions Group’s ADEPT data exchange platform to accelerate support and innovation for customers operating in the Lloyds and London Market.

ACORD, a global nonprofit organization serving the insurance and related industries, facilitates the development of open consensus standards and standard forms, and works with its members and partner organizations to drive implementation of those standards. ACORD Solutions Group, the provider of solutions for standardized data exchange through the global (re) insurance industry, is a wholly owned subsidiary of ACORD.

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ADEPT (ACORD Data Exchange Platform & Translator) is a platform for real-time data exchange, translation, and transformation linking trading partners and providing data structure, validation, and reconciliation. Majesco is now a Licensed Integrator Partner of ACORD Solutions Group, enabling the seamless integration of ADEPT within its future-ready Core Suite for P&C.

“The extended partnership with ACORD and integration of ADEPT will accelerate our ability to deliver next-gen Cloud solutions and offerings for our customers who operate in the Lloyd’s and London Market with minimal investment,” says Terrence Clark, GM and SVP for P&C Solutions at Majesco. “As our customers expand their business into the Lloyd’s and London market, we are committed to support them and continue our focus on delivering speed, agility, and relentless innovation to meet the rapidly changing risk environment and market demands.”

Majesco Core Suite for P&C will connect via our robust catalog of APIs to ADEPT to facilitate real-time data exchange, translation, and transformation across placement, settlement and claims transactions using ACORD Global Reinsurance & Large Commercial Standards, which have been adopted as a core component of Lloyd’s Blueprint Two market modernization. With customers who are part of the global Ruschlikon initiative, including the two largest reinsurers, over 15 MGAs and brokers and many of the international insurers, Majesco’s active participation in both the ACORD standards development community and the ADEPT-enabled data exchange ecosystem will support their strategic and operational initiatives.

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“Majesco shares our mission of helping the global insurance industry transform in order to best meet the challenges and opportunities of a rapidly evolving future,” said Chris Newman, EVP and Global Managing Director, ACORD. “Leveraging the benefits of standardized digital data exchange will be an absolute prerequisite for success moving forward. We are proud to provide ADEPT as complement to unlock those benefits within our partners’ industry-leading.

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