Reliance Nippon Life Insurance Selects Majesco Distribution Management
Majesco Distribution Management will enable speed to market, growth strategies, enhance agent service
Morristown, NJ – January 24, 2018 – Majesco (NYSE MKT: MJCO), a global provider of core insurance software and consulting services for insurance business transformation, today announced that Reliance Nippon Life Insurance, an India based life insurance carrier has selected Majesco Distribution Management to optimize their agent channel.
Majesco Distribution Management is designed to enable Reliance Nippon Life to administer and manage agents more effectively while delivering enhanced service that make it easier for agents to do business with Reliance Nippon Life.
The product’s capabilities coupled with customized developments is expected to reduce the time to market to implement new ideas, improve the overall agent management, and reduce errors. The platform will provide agents new business capabilities and user independence to more effectively perform their work.
Commenting on the selection, Srinivasan Iyengar, COO at Reliance Nippon Life Insurance Company said, “We appreciate Majesco’s commitment and industry reputation for on-time delivery of their cutting edge solutions. Majesco Distribution Management provides a robust, modern platform to not only meet our current needs but is also geared to support fast evolving business requirements. An efficient distribution operation is at the core of RNLIC’s growth plans and we look forward to this partnership in effectively scaling up our distribution operation.”
“We welcome Reliance Nippon Life Company to our growing community of global clients for Majesco Distribution Management and thank them for their confidence in our team and solution. Distribution management is a critical business capability needed to support growth strategies such as Reliance’s and we are thrilled to be partnering with a forward thinking, innovative insurer in a changing distribution landscape. We look forward to a successful implementation and helping Reliance Life achieve their growth and business strategies. ” said, Farid Kazani, Managing Director, Majesco Limited and CFO at Majesco.
Majesco Distribution Management is a standalone, modern solution that is designed to enable insurance carriers to manage the entire distribution landscape with comprehensive business capabilities that enable diverse channel options, supports the increasing need of an omni-channel environment, effectively administer channel producers from registration to termination, compensation and performance management, and launch innovative contests and personalize payment schedules for producers to help drive business growth. The highly configurable platform enables ease of integration within the insurance carrier’s business system landscape.
Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance. Approximately 150 insurance companies worldwide in P&C, L&A and Group/ Employee Benefits are transforming their businesses with Majesco’s solutions. Our market leading software, consulting and services uniquely underpin the entire insurance value chain and are designed to empower insurers with the agility, innovation and speed needed to meet their transformation opportunities. Majesco’s solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI/ analytics, predictive modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more. For more details on Majesco, please visit www.majesco.com.
About Reliance Nippon Life Insurance Company
Reliance Nippon Life Insurance Company Limited, part of Reliance Capital Limited, is one of India’s top private sector life insurance companies. Reliance Nippon Life Insurance Company offers a comprehensive range of innovative and need-based products, including protection, investment and retirement, targeted at individuals and groups.
Majesco is a provider of core insurance technology software and IT services to insurance carriers (P&C and Life, Annuity, Group) globally. Majesco delivers proven software solutions and IT services in core insurance areas including policy administration, billing, claims and distribution.
Director, Market Research and Content Development