Morristown, NJ – February 23, 2016 – Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today announced the selection of Majesco Policy for L&A and Group and Majesco Billing by Unum (NYSE: UNM), a leading provider of financial protection benefits in the US. Unum will implement the Majesco solutions as part of its plans to transform the business to meet future demands and opportunities in the employee benefits market.
“As the employee benefits market continues to rapidly change and grow, our business technology platform is an important component of our continued success,” said Kate Miller, Global Chief Information Officer at Unum. “Majesco offers a robust, modern technology solution that will enable us to provide innovative and valuable financial protection benefits coupled with service excellence. We look forward to our partnership with the Majesco team.”
Unum’s primary businesses of Unum US, Colonial Life and Unum UK serve 178,000 businesses in the U.S. and U.K. – and provides benefits for a third of the Fortune 500. Unum’s portfolio includes disability, life, accident and critical illness coverage, which help protect millions of working people and their families in the event of an illness, injury or death. Unum ranks 279 on the Fortune 500.
This selection expands Unum’s relationship with Majesco; in 2014 Unum UK selected Majesco’s market-leading administration for group protection as part of its continuing investment in providing first-class service, now and in the future. Unum UK and Majesco are working closely together on the implementation of this new platform which prepares Unum UK for the digital future of employee benefits as well as embedding the enhanced capabilities necessary for meeting future customer service expectations.
“We are delighted to extend our customer relationship with Unum and welcome the US business to our global customer community,” commented Ketan Mehta, CEO and Co-Founder of Majesco. “As the employee benefits market continues to change and adapt to new employer and consumer demands, insurers are seeking solutions designed to capture these new and emerging market opportunities. We are proud to partner with Unum to execute their ambitious transformation vision in both the US and UK.”
Chad Hersh, EVP for L&A at Majesco, added, “Unum is viewed as a leader in the industry, and once again they are leading the way by committing to a transformation of their business enabled by technology. We are honored to have been chosen to support this effort.”
Majesco Policy for L&A and Group—together with Majesco Billing—supports individual and group benefit products including true group, voluntary benefits, and worksite on a single instance of a single platform. Majesco Policy for L&A and Group and Majesco Billing support all tiers of individual and group insurers for life, annuity, disability, and other non-medical health products.
Majesco enables insurance business transformation for approximately 140 insurance customers by providing solutions which include software, consulting and services.
Our customers are insurers, MGA’s and other risk providers from the Property and Casualty, Life, Annuity and Group insurance segments worldwide. Majesco delivers proven software solutions, consulting and services in the core insurance areas such as policy, billing, claims, distribution management, BI / analytics, digital, application management, cloud and more. For more details on Majesco, please visit majesco.com.
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