Majesco P&C Policy Receives Top Recognition as a Dominant Provider in Aite-Novarica’s “Property/Casualty Policy Administration Systems” Report, 2023 Edition

Press Release

Morristown, NJ, March 9th, 2023 – Majesco, a global leader of cloud insurance platform software for insurance business transformation, today announced that Majesco Policy for P&C once again received top recognition as a Dominant Provider in the Aite-Novarica’s P&C Policy Administration Report, highlighting Majesco’s robust cloud SaaS solution, strong market position and momentum in the insurance industry.

The report profiled 42 stand-alone core policy administration systems (PAS) and provided an overview of their key features and capabilities, client base, lines of business supported, strategic partnerships, key differentiators, and product roadmap. This report also explored the latest business and IT trends within the core systems market and how they are influencing the present and future PAS market, while also comparing the vendors’ offerings and strategies highlighting their primary strengths and challenges to help insurance carriers make informed decisions as they select new partners.

“The need for rapid product innovation, efficient operations, and robust digital capabilities is driving the need for core systems rich with APIs and accessible data. Majesco offers a P&C Policy solution with an open architecture and self-service configuration tools that enable insurance carriers to deploy the capabilities needed to succeed in this new era of insurance,” said Martina Conlon, Head of Property and Casualty Insurance at Aite-Novarica.  “Majesco’s sizable customer base and continued momentum in the market qualifies them as a Dominant Provider in the P&C core systems space.”

“We are delighted that Majesco Policy for P&C has been recognized as a dominant, leading provider by Aite-Novarica once again. This recognition is a testament of the hard work and dedication of Majesco, as well as the success of our customers,” said Manish Shah, President and Chief Product Officer at Majesco. “We remain committed to driving relentless innovation by creating new business capabilities, leveraging cutting-edge technologies, and enabling our customers to modernize and optimize their businesses while accelerating innovation across all lines of business, including the more progressive offerings such as cyber, embedded, on-demand, and rideshare.  With our mature cloud platform, which is already being used by 80% of our customers, we are proud to offer some of the most advanced and innovative capabilities that are reshaping the future of each customer and the industry. Our leadership in adoption of cloud solutions reflects our commitment to delivering unmatched speed to value.”

Majesco Policy for P&C is a next-generation policy platform that can transform the business and accelerate growth strategies by giving insurers the power to create the products their customers need, meet shifting customer preferences and new risk demands, and deliver critical speed to value. Policy for P&C empowers carriers with agility, innovation, and speed while offering a lower risk model in terms of investment, operating costs, and scalability.

“As a customer-centric organization, we are thrilled that our commitment to helping insurers succeed and thrive in an ever-changing landscape has been recognized by Aite-Novarica,” said Adam Elster, CEO of Majesco. “At Majesco, we understand that meeting the expectations of the insurance industry requires a higher level of sophistication and commitment to digital transformation, and we are proud to offer SaaS cloud solutions that deliver on that promise.  Our deep integration of loss control and advanced analytics models empower our clients to embrace forward-thinking initiatives that accelerate their market position and growth. This recognition is a testament to the partnership and trust our customers place in Majesco to help them accelerate their business strategies and transformation journey, capture a future of opportunities, and continue to drive innovation in the industry.”

About Majesco

Majesco is the partner P&C and L&AH insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what’s next, without losing sight of what’s important now. Over 350 insurers, from greenfields and startups to some of the world’s largest insurers, rely on Majesco’s SaaS platforms solutions of core, data, analytics, digital, underwriting, loss control and rich ecosystem of partners to create their next now.

As an industry leader, we don’t believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 900+ successful implementations we are uniquely qualified to bridge the gap between a traditional insurance industry approach and a pure digital mindset. We give customers the confidence to decide, the products to perform, and the follow-through to execute.

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