New York NY, December 02, 2014 – Majesco (formerly MajescoMastek), the global provider of core insurance systems and services to over 100 insurance carriers worldwide, today announced that Chad Hersh has joined the company as executive vice president. In this role, he will lead the life & annuity and group & worksite benefits businesses and will assist in the broader global strategy. Majesco has witnessed strong traction in the life & annuity and group benefits market for its software products, including its policy administration system, group billing, and distribution management. Hersh’s addition to the management team will help build on the traction while Majesco continues to invest in market leading advanced core software and IT services.
Prior to joining Majesco, Hersh was most recently with The Nolan Group as senior vice president of the firm’s insurance practice. He is best known as a leading insurance industry researcher and analyst having served as a managing director within the insurance research practice at Novarica and a senior analyst at Celent.
Majesco’s recent announcement of its plans to consolidate the company’s global insurance business into a single and separate entity has prompted significant investments in an aggressive strategy and plan to grow the company’s worldwide insurance business. Some of the recent changes at Majesco are strong evidence of the company’s goal to be recognized as a dominant global insurance solution provider offering a full range of software and services to insurers of all sizes and in all lines of business.
Commenting on the Chad Hersh appointment, Ketan Mehta, Majesco CEO and founder, said, “We are thrilled to announce the addition of Chad to our executive team. He is a well known and highly respected expert in insurance technology and core system replacement, and will be an asset to Majesco. We anticipate that his experience, skill, and leadership will be instrumental in helping us achieve our goal of global dominance in the highly competitive insurance technology market. We already have more than 100 insurer customers worldwide and we look to grow that number substantially by offering the best in technology, solution capabilities, and services to enable our customers to achieve maximum value from their engagement with Majesco.”
Chad Hersh added, “Having worked with Majesco for over 10 years, the growth, investment, and excitement I’m seeing around the company and its solutions is remarkable. Majesco has reached an inflection point and I’m incredibly eager to play a role in the company’s leap to the next level. Very few vendors have the breadth and scale to serve both P&C and life insurance across software and services offerings, and I am excited to be a part of the organization, and especially to have the opportunity to help grow Majesco’s life & annuity and group & worksite insurance business .”
Prior to joining the analyst community at Celent, Hersh served as eBusiness director with AIG American General (AIG Domestic Life) and as a member of the adjunct faculty at Rice University, teaching classes in entrepreneurship and consulting. Earlier in his career, he held roles in IT and management consulting, including positions with Computer Sciences Corporation (CSC), Luminant Worldwide, and Ernst & Young.