Press Release
New research shows customers, technology, innovation, and distribution channels are key to success
Morristown, NJ – July 12th, 2022 – Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced the availability of a new report, Distribution Management: Connecting the Dots to Build Future Market Success. This new report, based on roundtables with industry leaders and other research, assesses why and how insurers must rethink their distribution management strategy and operations to meet the rapidly changing marketplace, expanding channel options including embedded insurance to ensure sustainable and profitable growth.
Growth and retention are a top priority for all insurers, regardless of segment or product focus. To grow, insurers must focus on developing innovative new products and services, address new risks that have emerged, enter new markets, expand into new channels, and seek ways to adapt to the changing demographic and lifestyles of buyers. However, too many insurers are reacting instead of proactively meeting these new market demands and customer expectations.
Without engaged customers and an array of distribution channels that meet their expectations, growth is challenging. Adding to this, technology continues its relentless advance, and an emerging new ecosystem of players is threatening traditional market assumptions of who, where, what and how insurance products are bought and serviced. At a macro level, the key market trends driving change include customers, technology, innovation, and distribution channels. Connecting the dots between these three areas is crucial in setting forward a strategy that will enable distribution management operational maturity and help accelerate growth.
“Distribution is evolving, from changes in customer needs, technology, and distribution channel options,” says Denise Garth, Chief Strategy Officer at Majesco. “Distribution management transformations are significant investments, however, when executed properly, they position insurers for success in a multi-channel, customer demanding market. Insurers must begin transformations with a clear definition of success, comprehensive assessment of current and future state operational processes, data and analytics,, technology, commitment from leadership to identify the right partners to begin the distribution transformation journey,”
Learn more by downloading Distribution Management: Connecting the Dots to Build Future Market Success on the website or by emailing info@majesco.com.
About Majesco
Majesco is the partner P&C and L&AH insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what’s next, without losing sight of what’s important now. Over 330 insurers, from greenfields and startups to some of the world’s largest insurers, rely on Majesco’s SaaS platforms solutions of core, data, analytics, digital, and rich ecosystem of partners to create their next now.
As an industry leader, we don’t believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 900+ successful implementations we are uniquely qualified to bridge the gap between a traditional insurance industry approach and a pure digital mindset. We give customers the confidence to decide, the products to perform, and the follow-through to execute.
For more information, please visit www.majesco.com and follow us on LinkedIn.