Skip to content

Aon Affinity Live with Majesco P&C Core Suite on Majesco CloudInsurer® for the Second and Third Programs in 22 Weeks

Implementation validates increased speed to market with customized products and services to support program business growth

Morristown, NJJanuary 21, 2021 –Majesco, global leader of cloud insurance software, today announced that Aon Affinity, a division of Aon Plc, is live with Majesco P&C Core Suite on Majesco CloudInsurer® and Insurance and Data Analytics Platform with two new programs following the initial implementation of a first program in 2019.  The three live programs are focused across property, liability and commercial auto with the most recent two brought to market in 22 weeks or less. The speed of implementation of the programs builds on the foundational initial implementation and provide a next-generation operational and technology foundation for Aon Affinity’s business growth.

As today’s program business market continues to innovate and rapidly grow, Aon needed a portfolio of solutions that could deliver customized, innovative products with speed, quality and scalability that supported its’ long-term growth strategy.  “Majesco’s next-gen, cloud-based solutions allowed us to enhance support for key growth businesses by getting to market in a condensed time frame,” says Kip Kelley, Chief Executive Officer of Aon Affinity US.

“We are thrilled to have Aon Affinity as a partner and continue to help support the evolution of its key business programs”, says Adam Elster, CEO of Majesco. “The growing market needs of Aon’s business highlight the importance and strategic value of a digital platform that delivers agility, innovation and speed to value.”

About Majesco

Majesco, provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st® Insurance with Digital1st® Engagement, Digital1st® EcoExchange and Digital1st® Platform – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.

Majesco Kicks Off the New Year with its Strategic Partner Summit: 200+ Attendees from 12 Partners

Majesco brought strategic partners and senior leadership together to share and discuss products, sales, marketing and delivery strategies to accelerate digital transformation in the industry

Morristown, NJ – January 19, 2021  –  Majesco, a global provider of cloud insurance platform software, today announced the successful completion of its Strategic Partner Summit that brought together both senior leadership and practitioners from 12 different companies.  Attendees shared and discussed Majesco’s strategy and plans to work together across product, sales, marketing and delivery for Majesco’s portfolio of next-gen cloud platform solutions, including the newest acquisition, ClaimVantage. The event was held over two days and included sessions from various members of Majesco’s senior leadership and product management teams. 

In its inaugural year, Majesco hosted over 200 attendees from 12 strategic partners including CapGemini, Deloitte, IBM, KPMG, Microsoft and PwC.  Opening the meeting was CEO Adam Elster and Chief Product Officer Manish Shah, who provided an overview on Majesco’s business and product strategies, followed by the marketing, sales and delivery strategies in the afternoon. The second day provided detailed insight on Majesco’s product portfolio. 

“One of our four strategic focus areas in our 2019 Strategy was to build a Partner Program. Our ability to scale and grow the business is critical and expanding our strategic partner relationships plays a major role,” stated Adam Elster. “Demand is growing as insurers look to modernize and optimize their existing business by replacing legacy systems. They are selecting and implementing next-gen core, digital, data and distribution platforms in the cloud.  In the last 12 months, we have rapidly expanded our strategic partner program and with the expertise the partners bring it is fantastic to see a strategy that we set, committed to and invested in show real results for our customers.”

The insurance industry is rapidly pivoting to a digital operating model that requires speed-to-value and customer-focused products, as well as services that continually adapt to changing market dynamics and customer behaviors. With this continuous change, the power of partnerships is more important than ever to navigate and adapt to change, creating a competitive edge.

“We are always grateful for the opportunity to connect with our partners. The

valuable input, expertise and industry insight they provide is critical to helping us

fulfill our strategic vision and further solidify our place as an industry leader,” says Ed Ossie, Majesco’s Chief Operating Officer. “It was an insightful and productive two days that created great excitement and momentum regarding the upcoming joint programs that will help the industry and our customers take on the future of insurance.”

Majesco is proud to collaborate with the best in the industry to reach new markets and support our customers as they shape the future of their business. For a complete list of Majesco partners, please visit: https://www.majesco.com/partners/.

About Majesco

Majesco provides technology, expertise, and leadership that helps insurers modernize, innovate and build the future of their business – and the future of insurance –

at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st® Insurance with Digital1st® Engagement, Digital1st® EcoExchange and Digital1st® Platform – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.

RVOS Farm Mutual Insurance Company Selects Majesco’s CloudInsurer® Platform to Transform its Core Operations

Long-time multi-line customer modernized platform adds critical flexibility for seven lines of business across personal, farm and commercial

Morristown, NJJanuary 14, 2021 –Majesco, a global leader of cloud insurance software, today announced that RVOS Farm Mutual Insurance Company (RVOS), a long-time multi-line customer of Majesco’s has selected Majesco P&C Core Suite Version 11 and will implement Majesco Enterprise Data Warehouse (EDW) on Majesco CloudInsurer® as part of their business transformation.  The new platform will support their personal, farm and commercial lines of business including farm and ranch property, farm liability, comprehensive personal liability, homeowners, dwelling policy, commercial property fire, and commercial general liability.  This includes ISO and non-ISO based products.  This followed a multi-month market assessment resulting in the selection of Majesco solutions.

Based in Texas over the past 120 years, RVOS has grown from a single company offering a basic fire insurance policy to a group of companies offering innovative and competitively priced insurance products to meet the needs of property owners across the state. RVOS is committed to providing peace of mind to homeowners, farmers and ranchers. As a farm mutual, they have a unique ability to adapt quickly to new circumstances and offer a variety of insurance products to meet various needs and budgets.

“To successfully address ever-changing market conditions and evolving customer demands, we needed a next-generation platform that was flexible, agile and would rapidly support product, customer and new market demands,” says Jamie Smith, Corporate Secretary of Information Technology at RVOS. “The combination of Majesco P&C Core Suite and Enterprise Data Warehouse on CloudInsurer® will provide a next-generation platform with robust business and data capabilities that are crucial as a digital insurer.  As a long-time Majesco customer, we’re confident that the Majesco platform is the right solution to expedite our digital transformation and meet the demands of a new generation of insurance customers.”

The upgrade and implementation will leverage extensive ready-to-use content and capabilities of Majesco P&C Core Suite and rollout to CloudInsurer® that will facilitate a successful transformation and provide a foundation to rapidly scale as their business grows. Majesco EDW provides a robust data framework that is pre-integrated with P&C Core Suite helping to unlock insights to optimize the business.

“We’re honored that RVOS will continue and expand our long-standing partnership as they transform their business to a new era of digital insurance,” says Prateek Kumar, Executive Vice President of Sales at Majesco.

“In an increasingly competitive and rapidly changing insurance marketplace, the powerful combination of our P&C Core Suite, EDW and CloudInsurer® solutions provide a powerful platform to modernize and optimize RVOS’ business while positioning them to capture growth opportunities with new products that their customers, agents and brokers demand in a new digital era of insurance, helping them surpass their competition.”

About Majesco

Majesco, provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st® Insurance with Digital1st® Engagement, Digital1st® EcoExchange and Digital1st® Platform – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.

F&G Selects Majesco Distribution Management, Majesco Digital1st® Insurance on Majesco CloudInsurer® to Accelerate their Digital Transformation

Morristown, NJ – January 12, 2021 – Majesco, global leader of cloud insurance software solutions for insurance business transformation announced that F&G, a leading provider of annuities and life insurance, has selected Majesco Distribution Management, Majesco Digital1st® Insurance and Majesco CloudInsurer® to enable their distribution operation and growth strategy for digital transformation. 

“In today’s competitive landscape, our ability to rapidly onboard numerous independent brokers, new distribution partners and support acquisition of books of business is crucial to our digital transformation strategy,” said Matt Christensen, SVP Insurance Operations at F&G.  “We are proud to partner with Majesco to accelerate our digital transformation strategy better positioning F&G to capture opportunities and growth in a multi-channel world.” 

F&G will be implementing Majesco Digital1st® Insurance to provide a next-generation producer engagement experience for onboarding and self-service and Majesco Distribution Management for producer relationship management and compensation management all on Majesco CloudInsurer®. 

“We are thrilled to have F&G join our customer community and help them accelerate their digital transformation and growth strategy with our next generation distribution solutions,” stated Eric Bustos, Vice President of Digital1st® and Distribution Management at Majesco.   “As the insurance market rapidly changes, the distribution landscape is where insurance providers can create and sustain a competitive edge and where our solutions provide the next generation capabilities, today. We look forward to a long strategic partnership with F&G.” 

 Majesco Distribution Management offers a next generation solution to manage the complexities of a changing distribution landscape using technology that keeps the insurance providers on the leading edge by reducing the time to implement a new distribution arrangement or consolidate the existing channel landscape onto a common platform. From managing multiple channels, to handling complex and high-volume changes, and personalizing payment schedules for channels, to accommodating integration with existing core insurance systems, Majesco Distribution Management enables agility, innovation and speed.

About Majesco

Majesco provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims);

Digital1st® Insurance with Digital1st® Engagement, Digital1st® EcoExchange and Digital1st® Platform – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.

Majesco Acquires ClaimVantage to Strengthen and Scale the L&A and Group Business

Expands product depth, growth potential and brings strong domain knowledge as insurers seek voluntary benefit growth underpinned by successful digital and business transformation

Morristown, NJ – January 7, 2021 –  Majesco, a global provider of cloud insurance platform software, today announced that it has completed the acquisition of ClaimVantage, a global provider of enterprise claims software as well as absence and accommodation management for the L&A market segment.  The acquisition of ClaimVantage comes just three months after the Thoma Bravo acquisition of Majesco. It strengthens Majesco’s strategic vision as a premier provider of next generation insurance technology solutions that enable insurers to accelerate their digital transformation to meet tomorrow’s demands today. 

“We’re excited to welcome ClaimVantage’s customers to our community and look forward to helping them build the future of their business,” commented Adam Elster, CEO of Majesco.  “Our acquisition of ClaimVantage expands and complements our key strategic focus in the L&A market segment with both strategic and operational investments in the business and are reflected in the growing market recognition by industry analysts, new and expanding customers and broadening strategic partnerships. Together these enable us to partner with insurers to capture the market opportunities unfolding and accelerate their digital and business transformation and cloud journey.”

ClaimVantage is recognized as a top enterprise claims management solution for L&A and Group insurance market and a leader in Absence, Accommodation and Integrated Disability Management (IDAM) to meet operational and federal and state compliance leaves demands.  In addition, many corporate organizations have an increasing need for absence and accommodation management that is not offered by their insurers.  ClaimVantage provides a valuable, established enterprise claims solution with the market leading absence and accommodation management capabilities to meet the unique needs for disability income products for over 35 customers including insurers, TPAs and large employers. 

“Since inception, ClaimVantage has been committed to building state-of-the-art, cloud-based solutions designed to transform the Life and Health claims insurance space, as well as absence management,” said Leo Corcoran, CEO of ClaimVantage.  “With Majesco’s market and cloud strength, SaaS expertise, financial strength and growing leadership in the L&A and Group market, we will be able to deliver even greater value to our customers.  We are excited to be joining the Majesco team and look forward to accelerating the industry transformation together.”

As the L&A industry enters a new decade, many insurers recognize the significant need to improve both operationally and innovatively, and create immediate business results and long-term value by replacing legacy debt in terms of operating models and core systems that support the market demand for employee and voluntary benefit products, particularly an increased interest in disability income insurance.  Robust disability claims with integrated absence and accommodation management is one of the top areas gaining stronger interest by employers for growth that has accelerated during the pandemic, moving down market to smaller insurers and TPAs. 

“This is a win-win-win move for both Majesco and ClaimVantage, positioning them well to meet the needs of a rapidly evolving industry,” commented Rob McIsaac, EVP of Research and Consulting and practice leader for life/annuity/benefits at Novarica. “Enterprise claims opportunities are both increasing and coming “down market” to meet the expanded demand for disability income and other ancillary products as part of voluntary benefits offerings.  This comes in concert with a growing need for robust absence management capabilities to address a broadening array of state-level requirements, playing directly to a strength of ClaimVantage.  Majesco’s financial strength, recognized leadership position for policy administration, coupled with ClaimVantage solutions, provides group and voluntary benefit insurers with a solution set where the merged entities will be stronger and more compelling than just the sum of the parts”. 

This acquisition advances Majesco’s vision and commitment to our customers, delivering additional value including: 

  • Broaden Customer Base – Adds over 35 new customers with deep loyalty within the US and other geos including EMEA and Australia. 
  • Strong Talent – Brings people to the team with deep insurance process and technology domain experience and are trusted partners with their current customers.
  • Product Roadmap Alignment – Aligns disparate yet dependent product roadmaps to create improved business value, accelerate digital transformation and keep insurers at the leading edge.
  • Cloud Product Expansion – Proven products that extend our core and digital cloud product portfolio to deliver integrated capabilities to customers that address key market pressures and priorities.

This is the second acquisition in nine months, including the acquisitions of InsPro Technologies on April 1, 2020.  Marlin & Associates acted as exclusive strategic and financial advisor to ClaimVantage.

About Majesco

Majesco, provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st® Insurance with Digital1st® Engagement, Digital1st® EcoExchange and Digital1st® Platform – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.

Majesco Growing Expansion of Digital1st® EcoExchange Marketplace with New Partnerships and Apps

Continuous growth in new partner apps reinforce Majesco’s commitment to building a broad ecosystem to drive personalized, digital experiences and innovation

Morristown, NJ – December 17th, 2020 –  Majesco, a global provider of cloud insurance platform software, today announced the expansion of new partnerships and apps in the Majesco Digital1st® EcoExchange, a curated live, plug-n-play ecosystem and service hub of Majesco Digital1st® Insurance platform. These new apps will provide new business capabilities to accelerate the insurance industry digital transformation.

“Majesco Digital1st® EcoExchange is a next-generation marketplace of partner apps designed to enable the insurance industry to make its transition to the digital,” says Manish Shah, President and Chief Product Officer at Majesco. “We’re continuously working with today’s top industry partners to develop apps for the Digital1st® EcoExchange. We’re proud to hear these new apps are helping insurers digitally transform their business and better service their customers and agents.”

Majesco’s Digital1st® EcoExchange has a variety of apps available to enable all aspects of the insurance value chain, ranging from a non-interactive service call to a comprehensive solution that can orchestrate multiple provider services. The latest update includes a new app from industry partner Infinilytics and new partner relationship with Innovative Systems.

Infinilytics

A software company that provides Cloud based AI insights and analytics from unstructured data to the insurance industry. Its Charlee Insights app, available on Majesco’s Digital1st® EcoExchange, is a state-of-the-art Insights Engine that uses artificial intelligence and machine learning to provide a deep and intuitive understanding of information from all types and sources both internal and external and structured and unstructured. Charlee Insights API can be integrated with any claims management system in real-time or in a botch mode and includes red flags, alerts, recommendations and litigation predicted flags. Its’ Insights are based on structured and unstructured claims data, and internal external (enrichment) data including documents. For more information, please visit the app page.  Also check out the podcast around the app.

Innovative Systems

In addition, Majesco signed an agreement with Innovative Systems, a leading provider of high-accuracy enterprise data management and risk management solutions and consulting services to major organizations. The FinScan AI-powered compliance screening technology will be the first app offered from Innovative Systems on the EcoExchange. FinScan accurately screens against more than 70 international government-provided compliance lists with its advanced data quality and data matching algorithms. FinScan also maintains these lists by continuously monitoring list sources for additions and revisions, promptly updating lists with the latest changes, and parsing, standardizing and reformatting list data before matching. Examples of compliance lists include the Office of Foreign Assets Control (OFAC) SDN, HM Treasury, and EU Consolidated. FinScan also screens against any internal do-not-do business lists and integrates with all third-party high-risk databases.

These additions underscore Majesco’s continued investment in the Ecosystem and Platform strategy that enable insurers to create personalized and compelling digital experiences for its customers and agents by leveraging innovative capabilities and data sources offered by a growing diverse community of partners. It emphasizes the growing need for insurers to adopt robust ecosystems and help customers easily innovate and compete in this new digital era.

For a complete list of partners and apps on Majesco’s Digital1st® EcoExchange, please visit: https://www.majesco.com/digital1st-insurance/ecoexchange/.

About Majesco

Majesco, provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st® Insurance with Digital1st® Engagement, Digital1st® EcoExchange and Digital1st® Platform – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.

New Majesco Report Assesses the Digital and No Code / Low Code Insurance Platform Current and Future State and the Path to Digital Maturity

Platforms are poised to radically change the business using innovative technologies like no code / low code to accelerate insurers’ digital transformation

Morristown, NJ December 15th, 2020 – Majesco, a global leader of cloud insurance software, today announced the release of a new thought leadership report, Insurance Platforms – The Digital and No Code / Low Code Platform.The report documents the evolution, definitions and industry viewpoints of digital and no code / low code platforms, highlighting key technology components and capabilities.  The report details three different and progressively advanced and innovative no code / low code platforms that are transforming insurance business models.

Constantly evolving technology, customer expectations and products are forcing the insurance industry to reevaluate and rebuild their business models and business processes in order to survive in an increasingly competitive market.  This is driving demand for technologies that can enable digital business transformation with agility and speed. Digital platforms with no code / low code capabilities have become the game-changer to meet this demand. 

“As customers, employees, partners and channels shift to digital experiences, the ability for businesses to become increasingly digital and agile is crucial for relevance and competitive advantage,” commented Denise Garth, Chief Strategy Officer at Majesco. “However, like all change, digital business transformation is successful only when company leaders from the top and throughout the organization believe in the need to change and approach it from a business focus, with an outside-in view with the needs of the customers at the center.  This is where next-generation technology – digital platforms – make the difference.”

Three different no code / low code platforms provide increasingly robust, powerful capabilities for insurers.

Next Gen Core Platforms with No Code / Low Code Configuration allow business users and “Citizen Developers” to do configurations via a simplified, visual interface with WYSIWYG capabilities. “The platform provides the necessary architecture to support app deployment at scale, versioning, security, upgrades, infrastructure management and accessibility,” Sachin Dhamane, VP, Product Management at Majesco, explained. “This enables companies to get essential products and business processes up and running quickly and focus skilled IT resources on more complex issues.”

Horizontal No Code / Low Code Platforms allow knowledge workers to create applications while accelerating digital transformation. While some of the current horizontal players offer insurance industry-specific applications, most market their solutions across a broad range of industries, placing them squarely in the enterprise software market.

Digital Insurance Platforms with No Code / Low Code (Vertical) provide all of the capabilities of horizontal platforms, plus insurance-specific components, including pre-built insurance content, workflows and blueprints; digital ecosystem of plug-and-play partner capabilities; ability to integrate with existing core systems; pre-built integration via APIs and integration hub to other third-party vendors and channels; no code / low code capabilities for branding, journey design, analytics, configuration, and more.

“Insurance-focused platforms need to have all the capabilities and scale of a horizontal platform, but with the added value of insurance-specific content, accelerators and ecosystems that can jumpstart and accelerate insurer’s digital transformation.  This is why we built Majesco Digital1st® from the ground up to provide a single platform for all phases of an insurer’s digital transformation,” noted Manish Shah, Chief Product Officer at Majesco. “More importantly, because it has insurance-specific content, it is more valuable and easier for both business and IT users to create apps, whereas horizontal would be more focused on IT.”

These capabilities enable insurers to extend the platform and build uncompromised and compelling digital experiences.  This is why not all no code / low code solutions are equal – and why industry-specific platforms can offer all that horizontals have but with the added benefit of industry-specific content, eliminating the need for multiple platforms.  For more information about Majesco Digital1st® check out the website.

The thought leadership report is available to download on the Majesco website, or you can request a copy by emailing info@majesco.com.

About Majesco

Majesco provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling, and personal. Over 190 insurance companies worldwide in P&C, L&A, and Group Benefits are transforming their businesses by modernizing, optimizing, or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); L&A Insurance Data & Analytics Platform, Digital1st® Insurance with Digital1st® Engagement, Digital1st® EcoExchange, and Digital1st® Platform – a cloud-native, microservices and open API platform; Distribution Management, P&C Insurance Data & Analytics Platform, including an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.

Aite Group Names Majesco a “Best-In-Class” Vendor in the Aite Matrix: 2020 U.S. P&C Core Systems Evaluation Report

Aite Group recognizes Majesco’s solid integration function, APIs and API gateway, and enriched digital capabilities

Morristown, NJ – December 3, 2020 – Majesco, a global leader of cloud insurance platform software for insurance business transformation, today announced that Aite Group named Majesco a “Best-in-Class” Vendor in the Aite Matrix: 2020 U.S. P&C Core Systems Evaluation Report. Using the Aite Matrix, a proprietary Aite Group vendor assessment framework, the Matrix Report evaluates the overall competitive position of each vendor, focusing on vendor stability, client strength, client services, and product features.  Based on qualifying criteria, 37 vendors were invited to participate with only 14 agreeing to the evaluation.  “Best in Class” qualification requires a score of 91% or more overall across all four categories.  The report explores the latest trends within the core systems market and the unique ways technology is playing role in addresses new market needs and challenges while also comparing the vendors’ offerings and strategies and highlights their primary strengths and challenges which helps insurance carriers make informed decisions as they select new partners.

“The best way for carriers to create a more digital experience is with a foundation of data. This means that a core system’s ability to seamlessly integrate copious amounts of existing and emerging data into carrier workflows is critical for a digital evolution.  Majesco has constructed a solid data integration function for Majesco Policy for P&C,”  says Aite Senior Analyst Jay Sarzen. “The Majesco platform can accommodate and integrate a wide range of data for carriers across most functions without having to make any customizations and offers clients full “out-of-the-box” data integration support for all of the key insurance functions except for reinsurance, which can be supported through customization.  Majesco clearly delivered on a promise made a few years ago to enrich its digital capabilities, and there is no reason to believe that it will stop trying to deliver on those promises.”

“Majesco continues to be forward-thinking with new, innovative technology that helps insurers meet the needs of today’s and tomorrow’s digital customer,” says Adam Elster, CEO of Majesco. “We are honored to be named a “best-in-class” vendor by Aite Group in the P&C insurance technology space. This recognition is indicative of our commitment to delivering next-generation SaaS and cloud platform solutions that enable customers to modernize, optimize, innovate and stay ahead of market demands and industry competition.”

Some of the capabilities highlighted by Aite Group were:

  • Majesco provides full support for the following components with its core system: rating engine, document generation, billing and claims. Majesco can provide CRM and reinsurance capabilities with customization.
  • Majesco Policy for P&C’s front end uses documented APIs, 90% of which are considered open APIs.
  • Third-party data integration is fully supported for rating engine, document generation, billing and claims. Majesco can support reinsurance with customization. Majesco fully supports open documentation for third-party integration for all of these components but reinsurance, which can be supported with customization.
  • Both business stakeholders and IT staff are able to adjust workflow and rules based upon imported ETPD if needed.
  • If can extract, import, and synthesize standard data, photos, social media posts (partial support or customized), telematics data (partial support or customized), structured data, geological data, geospatial data, weather data (partial support or customized), flood zone data, hazard data, and personal financial data. All of this (even when only partial support is offered) can be done without modifying the functional source code.
  • Data can be imported in the client’s file format of choice.
  • The system can automatically route workflow based upon imported ETPD.
  • There is open documentation about how to prefill with new data sources.

“We’re so proud to be named by Aite Group as a “best-in-class” vendor for P&C Core Systems. This reflects our relentless and purposeful innovation that helps insurers, reinsurers, InsurTechs and MGAs transform their business,” said Manish Shah, President and Chief Product Officer at Majesco. “We’re committed to deliver the industry with a next-generation core suite complete with out-of-the-box capabilities, robust functionality and flexible configuration, a mature cloud platform that is necessary to succeed in this new era of insurance.”

For more information, view the Aite Group report at this link.

About Majesco

Majesco provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling, and personal. Over 190 insurance companies worldwide in P&C, L&A, and Group Benefits are transforming their businesses by modernizing, optimizing, or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); L&A Insurance Data & Analytics Platform, Digital1st® Insurance with Digital1st® Engagement, Digital1st® EcoExchange, and Digital1st® Platform – a cloud-native, microservices and open API platform; Distribution Management, P&C Insurance Data & Analytics Platform, including an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.

Majesco Partners with Industry Leaders to Shine Light on Emerging Opportunities and New Technologies Reshaping the Future of Insurance

New sessions to both the Ecosystems Partners and Industry Leaders series uncovers the latest industry topics, trends and behaviors

Morristown, NJ – December 1st, 2020  – Majesco, a global leader of cloud insurance software solutions platforms, today announced the addition of new podcast sessions to both the Future of Insurance: Ecosystem Partners podcast series and Industry Leaders series. The latest episodes feature host Denise Garth, Chief Strategy Officer at Majesco as she speaks to today’s business leaders and industry partners on the most pressing industry topics, trends and behaviors of today’s leading organizations.

“The industry continues to rapidly transform – shaped by shifting customer demands, new technologies and market changes. As organizations work to keep pace and prepare for their digital transformation, it’s critical they have the latest information and resources,” says Denise Garth, Chief Strategy Officer. “At Majesco, we’re partnering with today’s industry leaders and influencers to bring them this information and shine a light on these emerging opportunities. By bringing them first-hand insight and valuable knowledge, we’re helping organizations appropriately plan for their business future.”

New episodes added to the Future of Insurance: Industry Leaders series include:

Episode 18Bryan Falchuk – Founder and Managing Partner of Insurance Evolution Partners
Hear from Bryan Falchuk and Denise Garth as they discuss the latest technology disruptors and how they’re impacting consumer behaviors.

Episode 19 Minh Tran, Managing Partner of Mandalore Partners
Join Denise Garth and guest Minh Tran as they discuss the importance prioritizing innovation plans in today’s business strategies.

Episode 20 –  Karlyn Carnahan – Head of Insurance North America at Celent – Part 1
Tune into the first part of the discussion with Karlyn Carnahan and Denise Garth as they discuss how today’s insurers are becoming the architect to orchestrate today’s digital capabilities.

Episode 21Karlyn Carnahan – Head of Insurance North America at Celent – Part 2
Continue to the conversation with Karlyn Carnahan and Denise Garth as they discuss which next generation technologies are key to thriving in today’s digital era of insurance.

Episode 22 – Ann Dieleman, Executive Director for PIMA
Ann Dieleman joins Denise Garth to discuss how organizations are currently engaging with customers and the importance of adopting new technologies and strategies to meet their needs.

New episodes added to the Future of Insurance: Ecosystem Partners series include:

Episode 9 – Kevin Ostrander – Executive Vice President at One Inc.
Check out this discussion between Kevin Ostrander and Denise Garth as they discuss the evolution of billing & payments and how insurers are now using it as a strategic initiative to drive customer engagement and retention.

All of our podcasts, including additional thought leadership resources such as primary research, blogs, and webinars can be found on www.majesco.com.

About Majesco

Majesco provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st® Insurance with Digital1st® Engagement, Digital1st® EcoExchange and Digital1st® Platform – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.