The new version includes 100 new features and 700 new
capabilities to accelerate insurers' transformation to the future
of insurance
Majesco (NASDAQ: MJCO), a global leader of cloud insurance
software solutions for insurance business transformation, today
unveiled the upcoming version 11 release of the Majesco P&C
Core Suite, including Majesco Policy for P&C, Majesco Billing
for P&C and Majesco Claims for P&C. The new version will be
generally available in October 2019.
It is a time of disruption and change in the insurance industry
– technological revolution, fast-changing customer needs and
expectations, and shifts to an on-demand, sharing, Gig and platform
economy. These powerful trends are driving the creation of new
business models, new products, new services and new markets by
those who embrace the disruptive potential and looked forward to
the future of insurance by modernizing, optimizing and creating new
products, services and business models within the business.
“Majesco continues to aggressively invest and deliver expanded
capabilities and features in our P&C Core Suite platform. The
new version 11 will help our customers and the industry optimize,
modernize and innovate to build the future of their business – and
the future of insurance – at speed and at scale,” commented Manish
Shah, President and Chief Product Officer at Majesco. “Our focus is
to provide a robust platform that provides the open architecture,
configurability, ready-to-use content, pre-built capabilities and
SaaS based not just for today’s market demands, but for what is
next – positioning our customers as leaders in the Future of
Insurance.”
This release highlights Majesco’s continued strategic investment
in our core systems to enable our customer’s transformation and
shift to future of insurance. Insurers are seeking a platform that
connects people and business to insurance in ways that are
innovative, hyper-relevant, compelling and personal to drive growth
and innovation for their business.
The new version brings new and innovative capabilities for
further improving speed to value, customer experience, ecosystem
connectivity and cloud delivery across all suite products with
simple, easy and quick upgrade. Insurers will be able to tap into
100 new features including the following our favorite 11 key
features:
- Customer Panoramic View – A
panoramic view of customer portfolio through their entire lifecycle
with drill down capabilities as an effective underwriting and
customer service tool.
- Submission and Risk Clearance -
Streamlined submission and risk clearance pre-integrated with
Majesco Policy for P&C.
- Usage-based Billing –
Mileage-based billing for auto insurance.
- Enhanced Task Management -
Centralized and enhanced task management for the P&C Suite
focusing on managing business exceptions and approvals through
automation and skill-based routing and escalations.
- Global Search – All-purpose,
generic search capability to find any entity across all P&C
suite products to initiate transactions right from the search
results.
- Digital Tour Guide - In-app
interactive tutorials and guided tours of existing as well as newly
released features for engaging and improving user adoptions and
their productivity.
- Personal Assistant – AI Bot
driven conversational UX for navigation and quick completion of a
task within a business process.
- Native Document Management -
Preintegrated native document composition, generation and storage
modules with intuitive document authoring tools.
- Open API & API Gateway –
700+ OAS3.0 compliant APIs covering all major P&C functions
available over an enterprise gateway servicing all APIs with
enterprise monitoring and servicing feature for Majesco
CloudInsurer™ customer.
- Ready-to-use Digital1st EcoExchange
Capabilities – Built-In integration and configuration
capability to quickly integrate with any Digital1st EcoExchange™
partner apps without coding.
- Enterprise Security & Data
Protection – User identity management with popular cloud
identity providers with multi-factor authentication for added
security measures as well as data protection compliance.
“Modern Insurers are looking for core systems that deliver
robust out of the box functionality to accelerate implementation,
and an open integration architecture that allows them to deliver
unique customer experiences and digital capabilities. Offering this
in a secure, stable cloud environment enables insurers to focus
resources on differentiators, not commodities like infrastructure.
Forward-looking solution providers like Majesco are meeting these
needs,” stated Martina Conlon, Executive Vice President at
Novarica.
Majesco CloudInsurer™ leverages Majesco’s experience with over
35 cloud customers, providing a business platform with broad appeal
for all insurers from greenfields, new start-ups and incubators to
mid-market and tier one insurers. Majesco CloudInsurer provides a
core insurance software platform leveraging Majesco core solutions
including Majesco Policy, Majesco Billing, and Majesco Claims.
Majesco Policy for P&C provides preconfigured ISO content,
including all rates, rules, forms, taxes, fees, and surcharges for
52 jurisdictions (including DC and Puerto Rico), and provides a
well-experienced monthly bureau content update service. Together,
the preconfigured bureau content and Majesco Bureau and Content
Update Services are designed to provide agility, rapid product
innovation, and speed to market, enabling insurance companies to
introduce new products and reach new markets quickly and cost
effectively. Majesco Enterprise Data Warehouse is pre-integrated
with the Majesco P&C software portfolio.
About Majesco
Majesco (NASDAQ: MJCO) provides technology, expertise, and
leadership that helps insurers modernize, innovate and connect to
build the future of their business – and the future of insurance –
at speed and scale. Our platforms connect people and businesses to
insurance in ways that are innovative, hyper-relevant, compelling
and personal. Over 190 insurance companies worldwide in P&C,
L&A and Group Benefits are transforming their businesses by
modernizing, optimizing or creating new business models with
Majesco. Our market-leading solutions include CloudInsurer™ P&C
Core Suite (Policy, Billing, Claims); CloudInsurer™ L&A and
Group Core Suite (Policy, Billing, Claims); Digital1st Insurance™
with Digital1st eConnect™, Digital1st EcoExchange™ and Digital1st
Platform™ – a cloud-native, microservices and open API platform;
Distribution Management, Data and Analytics and an Enterprise Data
Warehouse. 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: https://www.businesswire.com/news/home/20190415005406/en/
Tara Dilzer AlexanderDirector, Marketing Communications and
Creative Services+1 718 916
6873tara.dilzeralexander@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