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Majesco Consolidates UK Insurance Software Business

Press Release

New York NY, February 17, 2015 – Majesco, US (formerly MajescoMastek), the global provider of core insurance software and services to insurance carriers worldwide, today announced that it has completed the transition and consolidation of Mastek group’s UK insurance business to Majesco. This is the latest step in Majesco’s continuing initiative to consolidate the Mastek group’s global insurance businesses under the single and independent entity ‘Majesco’, and is in line with its aggressive global growth strategy. The company will now operate under the Majesco brand name in UK.

For Majesco, the move adds nine UK insurance company clients, including the recently announced core policy transformation initiative at Unum. Unum, one of the UK’s leading providers of financial protection has selected Majesco’s Elixir platform as the core administration platform for their Group Protection business in the UK. Unum will implement Elixir across its Group Protection business in order to create and adapt products more quickly.

Commenting on the completed UK consolidation, Majesco’s CEO and founder Ketan Mehta said, “We remain on track with the consolidation of our world-wide insurance business under Majesco. Our organization has long been committed to the UK insurance market with leading life, pensions, health and group insurance companies using our solutions. We see increased interest in our general insurance core solutions as companies consider modernization and transformation options. Majesco will offer UK insurance carriers access to proven market leading general insurance (P&C) solutions.”

Majesco, with over 100 insurance customers is consolidating its global insurance business to a single entity to further strengthen its customer centric insurance software and IT services business.