Game-changing results improved policy issuance from 10-15 days to 5-10 minutes
Morristown, NJ, Jan 17, 2018 – Majesco (NYSE MKT: MJCO), a global provider of software, consulting and services for insurance business transformation today announced that Apollo Munich Health Insurance, enhanced their insurance distribution by increasing market reach and penetration leveraging Majesco’s DigitalConnect platform to radically improve policy issuance timeframes, a key factor for distribution channel engagement.
Majesco has developed a mobile tablet automated policy issuance application leveraging the DigitalConnect platform. The application enables agents to quickly and dynamically capture customer demographics, scan documents and issue the policy at the point of sale via the mobile tablet. The data captured is immediately integrated using straight through processing with AMHI’s core policy system to approve the policy and provide a payment option to enable the real-time close of sale. This game-changing solution using Majesco DigitalConnect with a unique mobile application radically transforms agent and customer expectations and engagement, by significantly reducing the policy issue time to 5-10 minutes for straight through process cases.
Krishnan Ramachandran, Deputy CEO, Apollo Munich Health Insurance said, “With the new application, our agents can submit proposals and issue policies in remote parts of the country which may not be easily accessible using innovative digital solutions. The Majesco and Apollo Munich teams continue to invest in new and innovative technology.”
Ketan Mehta, CEO and Co-Founder of Majesco, said “The shifting industry dynamics put significantly more emphasis on digital solutions as insurers look at improving their distribution channel and customer experience, efficiency, and business processes. We are honored to have played a part in AMHI’s business as their strategic partner.”
Majesco DigitalConnect is a single platform for all lines of business, with ready to deploy portal and mobile solutions for customers, agents, alternative distribution channels, and group benefits / employees. It is designed to enable personalization of the portal and mobile solutions based on the unique customer journeys and personas defined by each insurer to fulfill their unique and multi-channel distribution and customer experience needs.
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 and consulting 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 majesco.com.