Morristown, NJ – January 27th, 2022 – Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced that it has been recognized as a Technology Leader in Quadrant Knowledge Solutions “SPARK Matrix™: P&C Core Insurance Platform, 2021”.
The report, which includes 12 solution providers states, “Quadrant Knowledge Solutions’ P&C Core Insurance (PAS- P&C) market research includes a detailed analysis of the global market regarding short-term and long-term growth opportunities, emerging technology trends, market trends, and future market outlook. The study provides a comprehensive market forecast analysis of the global market and the overall market adoption rate as well. This research provides strategic information for technology vendors to better understand the existing market, supporting their growth strategies; and for users to evaluate different vendors’ capabilities, competitive differentiation, and market position.”
According to Pradnya Gugale, Analyst at Quadrant Knowledge Solutions, " Majesco’s robust cloud-based P&C core insurance suite offers full lifecycle processing capabilities for all lines of P&C insurance including policy, billing and claims. The company's P&C portfolio has the ability to combine core applications with complex and ML-based advanced data analytics, offer pre-loaded templates & ready to use content with powerful configuration tools to enable quick product launch, and focus on creating next generation of digital insurance platform with robust digital experience tools.” “With its strong vision to offer a completely cloud-native SaaS offering, the company has received strong ratings across the parameters of technology excellence and customer impact and has been placed as a technology leader in the 2021 SPARK Matrix: P&C Core Insurance Platform” adds Pradnya.
“Tremendous changes are on the horizon for insurance,” said Manish Shah, Chief Product Officer and President of Majesco. “Leaders within our industry are replacing their legacy and on-premise modern core with next-gen SaaS core platforms that are cloud and API-enabled highlighting a new major technology shift that requires carriers to rethink their core once again. These next gen “intelligent” platforms, like our P&C Core Suite, have comprehensive capabilities that meet the ever-changing needs of insurance customers all while providing broader digital, data, and functional capabilities that enable innovation for carriers. It is an honor to be recognized as a technology leader by Quadrant Knowledge Solutions and we look forward to continuing to add value to our industry and help carriers build the future of insurance.”
Majesco P&C Core Suite, is a powerful suite core suite for P&C personal, commercial, workers compensation, specialty, and new products such as parametric and on-demand empowering accelerated business growth and innovation that includes a distinct, yet fully integrated, set of solutions that together provide the flexibility and speed to innovate while driving significant and sustainable growth, putting the power in the insurer’s hands.
- Majesco Policy for P&C is a market-leading, comprehensive, and advanced policy management system that provides full lifecycle processing capabilities for all lines of P&C insurance, including new innovative products.
- Majesco Billing for P&C is the most widely adopted, award winning solution that enables insurers to support risk products and value-added service to enhance customer experience, improve cash flow, reduce daily sales outstanding, and increase operational efficiencies
- Majesco Claims for P&C supports the entire claims process and settlement cycle with all-encompassing functionality including: FNOL setup, claims setup, processing, fraud assessment, cat management and settlement.
“Our industry has undergone a decade of changes and innovation in less than two years,” said Adam Elster, CEO of Majesco. “Over that time, we have continued to demonstrate the strength of our P&C Core Suite by empowering insurers to extend the scale and effectiveness of their digital transformation strategic initiatives. We believe our customer-first philosophy coupled with our need to push innovation within our industry continues to position us at the forefront of the market and we are thrilled to be recognized as a Technology Leader by Quadrant Knowledge Solutions.”
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 wordpress-82171-584158.cloudwaysapps.com.
About Quadrant Knowledge Solutions
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business and Growth advisory services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client’s business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments. For more available research, please visit https://quadrant-solutions.com/market-research/
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