The new version highlights significant enhancements and capabilities to enable agility, innovation and speed for customers and insurers
Morristown, NJ – October 3, 2017 Majesco (NYSE MKT: MJCO), a global provider of core insurance software and consulting services for insurance business transformation, announced at their annual customer conference, Convergence 2017, version 10.0 of the Majesco P&C Suite, including Majesco Policy, Majesco Billing and Majesco Claims. The new version is immediately available and is the foundation for Majesco CloudInsurer.
“While the insurance industry is undergoing unprecedented change and disruption, modern and function rich core systems are a critical foundation for insurers of all sizes,” commented Prateek Kumar, EVP of P&C Business at Majesco. “In the platform economy, core systems need to be platform ecosystem friendly with API-first design, able to scale in public clouds and architected for seamless and frequent upgrades. Majesco P&C Suite version 10 provides such functional and platform capabilities that will help insurers speed to value during their digital transformation journey.”
The insurance industry is in the midst of profound change fueled by trends that are converging and creating leaps in innovation and disruption, shifting traditional business models driven to align to a new digital age. To enable their customers and the industry in this shift, Majesco’s thought leadership and primary research recognized the need for a new generation of solutions that would help insurers begin the shift with their existing business as well as prepare for their business of the future.
This release highlights Majesco’s continued investment in our core systems to enable our customer’s transformation and shift to a new age of insurance. Insurers increasingly are seeking speed to value including speed to implementation and speed to market – all key differentiators in today’s competitive landscape of existing and InsurTech startups. The new version includes the following key enhancements and capabilities:
- A single platform supporting personal, commercial and specialty lines of business with integrated, modular policy, billing and claims solutions.
- Over 50 new features targeting enhanced functionality, user experience and performance.
- Common and configurable HTML5 based look and feel for the modules as well as seamless navigation across the suite modules.
- 20+ templates for specialty lines as well as ready to use ISO based content.
- Over 30 pre-built integration points, common certified technology stack, suite security model with SSO and single administration tool, and cross module reporting and data flows based on a common data model.
- Consolidated information dashboards regardless of data residence within the suite.
- Internationalization with multi-lingual, multi-currency and locale management tools as well as localization with content refactoring and local insurance products.
- Optimized development operations with regular base product performance benchmarks, automated regression testing, periodic application vulnerability testing, common calendar of monthly releases for all suite modules and CI/CD based product development.
“Organizations preparing for the future increasingly rely on modern core systems like Majesco P&C Suite that allow them to connect the back, middle and front–office to deliver speed to value,” commented Karlyn Carnahan, Director of North America for Celent. “To enable and accelerate this journey, orchestrating a broad set of digital services like Majesco Digital1st Insurance that integrates with the core suite is becoming a prerequisite.”
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.