Morristown, NJ – January 13th, 2022 – Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced that it has been recognized as a Leader in Everest Group’s “Digital Experience Platforms (DXP) Insurance Industry Products PEAK Matrix® Assessment 2022”.
The report, which includes 11 solution providers states, “Following the COVID-19 pandemic, creating a seamless, frictionless, and digital customer-centric insurance experience has become the new standard for insurers. Technology adoption – including AI-enabled chatbots to assist in the customer journey, Machine Learning (ML) algorithms for personalized recommendations, and data and content management to provide agents with a holistic customer view and help in upselling – plays a major role in empowering customers and agents.”
“The pace of digital transformation is not slowing down,” stated Adam Elster, CEO at Majesco. “Carriers must reinvent themselves as tech-forward companies that can deliver customized products and highly personalized services to meet new expectations from customers and keep in step with new digital leaders. We are thrilled to be recognized as a Leader in this report as it validates our vision and continued investment in Digital1st® in strengthening its integrated platform and customer-centric vision which enables carriers to stay ahead in today’s ever-shifting market.”
In addition, the report notes, “the entry of digital-native companies and InsurTechs, and a legacy technology stack are posing a threat to insurers. Insurance companies are thus leveraging Digital Experience Platforms (DXPs) for content management, customer experience, and agent enablement to stay competitive. DXPs possess capabilities for targeted campaigning, hyper-personalization, self-service portals, collaboration tools, and a customer/agent 360-degree view to improve retention rates and response times.”
Majesco Digital1st® Insurance, a no code / low code platform with robust insurance content, is purpose-built for insurance to provide a single platform to enable organizations to accelerate their digital transformation journey and pursue relentless innovation with speed and agility. In 2021, Majesco introduced two new Digital1st® SaaS offerings built on Digital1st Insurance to provide a unified next-generation digital platform that provides holistic customer and Underwriter experiences.
- Majesco Digital Customer360 for P&C is a next-gen customer experience designed through the customer lens to enable holistic, easier, and seamless customer engagement across service, billing, and claims – an intentional upgrade from the typical transactional experience through separate portals.
- Majesco Digital Underwiter360 for P&C is an intelligent, insight-driven next-gen underwriting workbench that enhances underwriting efficiency and profitability, drives underwriter productivity and profitability, and creates greater transparency and collaboration with brokers.
“This recognition reflects the impact Majesco Digital1st® Insurance delivers for carriers as they navigate the constantly evolving digital challenges and opportunities,” said Manish Shah, Chief Product Officer and President of Majesco. “Undertaking digital transformation begins with a customer-centric view that provide the capabilities to deliver the great experience customers have increasingly grown to expect. Rather than providing siloed apps or portals for certain business transactions we believe great digital experiences should provide a holistic 360-degree view, moving carriers beyond incremental customer service to transforming engagement to an experience that is embedded with empathy. Our Majesco Digital1st® Insurance offering brings a market-leading digital experience platform to the insurance market to enable agility, innovation, and speed in meeting the needs of customers’ today and tomorrow.”
Majesco is the leading software partner to both the P&C and L&A insurance markets to modernize, optimize and innovate their businesses at speed and scale. Over 330 insurers, from greenfields, start-ups and MGAs to the largest insurers, reinsurers and brokers use Majesco’s next generation SaaS platform solutions of core, data, and analytics, digital, distribution, absence management and a rich ecosystem marketplace of established and InsurTech partners to build the future of insurance.
Our technology, expertise and leadership help insurers innovate and connect to build the future of their business. With over 825 successful implementations and over 65% of our customers on Cloud with Majesco platform solutions, together we have an amazing track record of innovation and real-world results. For more details on Majesco, please visit www.majesco.com.