Morristown, NJ – March 15th, 2022 – Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced that it won an XCelent Award for Breadth of Functionality by Celent in their “Policy Administration Systems: North American Group/Voluntary Life Insurance Edition.”
The report, which profiled 19 PAS solutions, “uses Celent’s ABC vendor view, a standard representation of a vendor marketplace designed to show at a glance the relative positions of each vendor in three categories: Advanced Technology, Breadth of Functionality, and Customer Base and Support.”
“Congratulations to Majesco on their XCelent Award! Majesco’s Core Suite for L&A and Group is a strong solution in the North American group/voluntary market,” states Karen Monks, Celent Sr. Analyst and co-author of the report. “The last two years have shown remarkable progress in the group/voluntary PAS market in regard to functional advancements, and Majesco’s Core Suite excelled in the functionality we looked for in 2022.”
“The group and voluntary benefits insurance industry is faced with an opportunity to meet the needs of a diverse employee base crossing multiple generations,” said Manish Shah, Chief Product Officer and President of Majesco. “It is no longer a one-size fits all market, insurers must adapt, and change their business operational model to meet increasing customer expectations with new and innovative products and value-added services. Majesco L&A Group and Core Suite is purpose-built to help carriers optimize their operational business processes while innovating their business through next-gen technologies, cloud-based digital capabilities, and API-native connections. It is an honor for Majesco L&A and Core Suite to be recognized for its Breadth of Functionality with this XCelent Award, it is a testament to our team’s dedication to enabling core system transformations.”
Majesco L&A and Group Core Suite, uniquely supports individual, voluntary benefits, and group on a single platform, recognizing that nurturing and retaining customers, regardless of where they originate, is critical to insurers’ growth strategies. The suite provides important core insurance capabilities for policy, billing, and claims. The powerful design and innovative product chassis enable rapid adaptation for new, innovative products or benefit plans, giving insurers the power, flexibility and speed needed to capture opportunities and keep them at the leading edge. Majesco’s L&A and Group Core Suite is recognized by industry experts including ISG, Gartner, Aite-Novarica, and most recently Celent.
“We are excited to win the XCelent Award for Breadth of Functionality for Group and Voluntary Life,” said Adam Elster, CEO of Majesco. “One of our great strengths is our customer-first philosophy which enables us to offer the insurance industry products that are not only innovative and hyper-relevant but reflect the ever-shifting needs of our customers. We will continue to lead with this philosophy and demonstrate the strength of our L&A and Group Core Suite.”
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 https://www.majesco.com.