Majesco Announces Version 10 of Majesco P&C Suite
October 03 2017 - 8:57AM
Business Wire
The new version highlights significant
enhancements and capabilities to enable agility, innovation and
speed for customers and insurers
Majesco (NYSE MKT:MJCO), a global provider of core insurance
software and consulting services for insurance business
transformation, announced at their annual customer conference,
Convergence 2017, version 10.0 of the Majesco P&C Suite,
including Majesco Policy, Majesco Billing and Majesco Claims. The
new version is immediately available and is the foundation for
Majesco CloudInsurer.
“While the insurance industry is undergoing unprecedented change
and disruption, modern and function rich core systems are a
critical foundation for insurers of all sizes,” commented Prateek
Kumar, EVP of P&C Business at Majesco. “In the platform
economy, core systems need to be platform ecosystem friendly with
API-first design, able to scale in public clouds and architected
for seamless and frequent upgrades. Majesco P&C Suite version
10 provides such functional and platform capabilities that will
help insurers speed to value during their digital transformation
journey.”
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 release highlights Majesco’s continued investment in our
core systems to enable our customer’s transformation and shift to a
new age of insurance. Insurers increasingly are seeking speed to
value including speed to implementation and speed to market – all
key differentiators in today’s competitive landscape of existing
and InsurTech startups. The new version includes the following key
enhancements and capabilities:
- A single platform supporting personal,
commercial and specialty lines of business with integrated, modular
policy, billing and claims solutions.
- Over 50 new features targeting enhanced
functionality, user experience and performance.
- Common and configurable HTML5 based
look and feel for the modules as well as seamless navigation across
the suite modules.
- 20+ templates for specialty lines as
well as ready to use ISO based content.
- Over 30 pre-built integration points,
common certified technology stack, suite security model with SSO
and single administration tool, and cross module reporting and data
flows based on a common data model.
- Consolidated information dashboards
regardless of data residence within the suite.
- Internationalization with
multi-lingual, multi-currency and locale management tools as well
as localization with content refactoring and local insurance
products.
- Optimized development operations with
regular base product performance benchmarks, automated regression
testing, periodic application vulnerability testing, common
calendar of monthly releases for all suite modules and CI/CD based
product development.
“Organizations preparing for the future increasingly rely on
modern core systems like Majesco P&C Suite that allow them to
connect the back, middle and front–office to deliver speed to
value,” commented Karlyn Carnahan, Director of North America for
Celent. “To enable and accelerate this journey, orchestrating a
broad set of digital services like Majesco Digital1st Insurance
that integrates with the core suite is becoming a
prerequisite.”
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.
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MajescoAshwin Rodrigues, +1-973-461-9087Director — Global
Marketingashwin.rodrigues@majesco.com
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