Majesco Digital1st Insurance, the first Digital Engagement & Microservices Platform as a Service for the Entire Insurance Ind...
October 02 2017 - 4:15PM
Business Wire
The new portfolio of solutions will enable new
business models, new products and customer engagement in the
digital age, allowing insurers to embrace innovation and
disruption
Majesco (NYSE MKT: MJCO), a global provider of core insurance
software and consulting services for insurance business
transformation, announced at their 10th annual customer conference,
Convergence 2017, a ground-breaking micro-services based solution
set that enables the next era of customer engagement and supports a
new generation of business models and products. The solution is
Majesco Digital1st and will complement the Majesco core software
suite and integrate with other core software to accelerate the
value of core software solutions.
The Majesco Digital1st Insurance portfolio provides the next
generation of solutions to help the insurance industry shift more
rapidly to the digital age. By leveraging insurer investment in
their modern core systems, Majesco Digital1st Engagement solutions
is designed to enhance insurers’ power to:
- create superior customer
experiences
- innovate products and services
- embrace an on demand world
- leverage a vast ecosystem
- capture market opportunities
- compete in the digital age
- change the industry
The insurance industry is in the midst of profound change fueled
by trends that are converging and creating leaps in innovation and
disruption, shifting traditional business models driven to align to
a new digital age. To enable their customers and the industry in
this shift, Majesco’s thought leadership and primary research
recognized the need for a new generation of solutions that would
help insurers begin the shift with their existing business as well
as prepare for their business of the future. This approach is no
different than what we have seen with new generation of customer
engagement and platform as a service leveraging micro-services
architecture more commonly found in other industry segments and
emerging with new InsurTech startups.
“Our new Digital1st portfolio will enable insurers to design
custom journeys that cut through traditional insurance silos
(systems and lines of business) to create an end-to-end highly
personalized, engaging customer experience for their needs, on
their terms,” commented Manish Shah, EVP of Products at Majesco.
“This new portfolio of digital solutions will offer cloud-based,
real-time, insurance specific capabilities that enhance the
customer experience and micro-services based platform that together
will help insurers adapt and innovate in a rapidly changing
competitive landscape.”
The new portfolio of solutions, called Majesco Digital1st
Insurance, is distinctly different from our existing portfolio of
solutions, though the engagement solutions can be used and
integrated with our current P&C and L&A and Group core
systems portfolio. The new Majesco Digital1st Insurance solutions
include:
- Majesco Digital1st Engagement –
Portfolio of integrated solutions for enhancing customer
experience.
- Majesco Digital1st Journey Designer –
the next generation of digital tools to design customer journey
with embedded insurance specific content for various persona
- Majesco Digital1st dConnect – the next
generation of digital engagement beyond portal and mobile with
insurance specific content that will deliver personalized customer
experience
- Majesco Digital1st EcoExchange – the
next generation of partner ecosystem hub using third party services
with a standard semantic layer for easy integration and a true
“plug and play” environment for traditional and InsurTech
partners
- Majesco Digital1st Platform –
Industry’s first micro-services platform bundled with rich
insurance content across P&C and L&A business segments that
will enable a new generation of business models and products that
require on-demand capabilities, high volume of transactions and
extensive use of new real-time data sources that traditional core
systems cannot effectively support.
“Nearly every insurer is embarked on several digital journeys to
engage more effectively and directly with their policyholders,
distribution partners, and broader ecosystem. Majesco Digital1st
Insurance is a portfolio of solutions designed to enable those
journeys. It includes an innovative microservices platform to
support products and business models in an on-demand world,” said
Donald Light, Director in Celent’s North America Property/Casualty
Practice.
The new solutions will be beta-tested and begin implementation
by a number of existing and new Majesco Customers, over the next
few months. For more information, contact Majesco at
info@majesco.com.
About Majesco
Insurance business transformation is a journey of change and
revitalization, a renaissance of Insurance. Approximately 150
insurance companies worldwide in P&C, L&A and Group/
Employee Benefits are transforming their businesses with Majesco’s
solutions. Our market leading software and consulting services
uniquely underpin the entire insurance value chain and are designed
to empower insurers with the agility, innovation and speed needed
to meet their transformation opportunities. Majesco’s solutions
include policy management, new business / underwriting, rating,
billing, claims management, distribution management, BI/ analytics,
predictive modeling, digital platform with mobile and portal,
testing services, cloud services, bureau and content services,
transformation services, consulting services and more. For more
details on Majesco, please
visit www.majesco.com.
Cautionary Language Concerning Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act. These forward-looking statements
are made on the basis of the current beliefs, expectations and
assumptions of management, are not guarantees of performance and
are subject to significant risks and uncertainty. These
forward-looking statements should, therefore, be considered in
light of various important factors, including those set forth in
Majesco’s reports that it files from time to time with the
Securities and Exchange Commission and which you should review,
including those statements under “Item 1A – Risk Factors” in
Majesco’s Annual Report on Form 10-K.
Important factors that could cause actual results to differ
materially from those described in forward-looking statements
contained in this press release include, but are not limited to:
integration risks; changes in economic conditions, political
conditions, trade protection measures, licensing requirements and
tax matters; technology development risks; intellectual property
rights risks; competition risks; additional scrutiny and increased
expenses as a result of being a public company; the financial
condition, financing requirements, prospects and cash flow of
Majesco; loss of strategic relationships; changes in laws or
regulations affecting the insurance industry in particular;
restrictions on immigration; the ability and cost of retaining and
recruiting key personnel; the ability to attract new clients and
retain them and the risk of loss of large customers; continued
compliance with evolving laws; customer data and cybersecurity
risk; and Majesco’s ability to raise capital to fund future
growth.
These forward-looking statements should not be relied upon as
predictions of future events and Majesco cannot assure you that the
events or circumstances discussed or reflected in these statements
will be achieved or will occur. If such forward-looking statements
prove to be inaccurate, the inaccuracy may be material. You should
not regard these statements as a representation or warranty by
Majesco or any other person that we will achieve our objectives and
plans in any specified timeframe, or at all. You are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date of this presentation. Majesco disclaims
any obligation to publicly update or release any revisions to these
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date of this press release or
to reflect the occurrence of unanticipated events, except as
required by law.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171002006236/en/
MajescoAshwin Rodrigues, +1-973-461-9087Director — Global
Marketingashwin.rodrigues@majesco.com
Majesco (NASDAQ:MJCO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Majesco (NASDAQ:MJCO)
Historical Stock Chart
From Apr 2023 to Apr 2024