Majesco Unveils Majesco L&A and Group Core Suite Version 11
April 17 2019 - 9:00AM
Business Wire
The new version includes significant enhancements including over
200 new features, 1500 new capabilities and a simple upgrade
process 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
pre-announced the upcoming version 11 release of the Majesco
L&A and Group Core Suite, including Majesco Policy for L&A
and Group, Majesco Billing for L&A and Group and Majesco Claims
for L&A and Group. The new version will be available in October
2019.
The L&A and Group segment of the insurance industry has been
slow to replace legacy systems and is now facing intensified
disruption and change – technological revolution, fast-changing
customer needs and expectations, and shifts to new products and
business models. Together, these powerful trends are driving
innovation with startups and existing insurers alike building the
future of insurance by modernizing, optimizing and creating new
business models and products within the business.
“The L&A and Group insurance segment is poised for
transformation and Majesco’s aggressive investment in a
next-generation core suite platform will enable our customers and
the industry to not just modernize, but optimize and innovate their
business,” commented Manish Shah, President and Chief Product
Officer at Majesco. “The entire insurance industry, including
L&A and Group insurance is pivoting to a digital operating
model that requires speed-to-value, test-and-learn capabilities,
and customer-focused products and services with the ability to
continually adapt to changing market dynamics and customer
behaviors. Majesco is committed to bringing insurers an insurance
platform that enables digital operating models through open
architecture, configurability, ready-to-use content, prebuilt
end-to-end capabilities and SaaS-based delivery – ultimately
helping our customers capture market opportunities as they shape
the future of insurance.”
Today’s 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. This release highlights Majesco’s continued, strategic
investment in core systems to enable customers’ transformation to
meet the demands of a new era of insurance. The new version will
include the following innovative key enhancements and
capabilities:
- Digital RFPs – AI powered Group
sales process that allows insurers to offer the best for the
customer based on historical trends and profitability.
- Always STP (straight through
processing) – Speeds up transaction processing time and allows
having the same information be streamlined through a process across
multiple points.
- Reporting Reimagined – Design,
schedule, execute and view tailored reports off a NoSQL DB.
- Dashboards– Role based activity,
analytical and monitoring dashboard views.
- Global Search - An all-purpose,
generic search capability to find any entity across the L&A and
Group suite allowing users to initiate transactions right from the
search results and make quick judgments.
- 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.
- API – Start your digital journey
with our 1000+ APIs covering all major business functions.
- Personal Assistant – AI Bot
driven conversational UX for navigation to a process to quickly
commence and complete the task.
- User themes & preferences –
Configure new themes and preferences for personalized screen
layouts and branding.
- Real-time User Feedback –
Proactively gather user feedback and needs then apply it to enhance
the user experience.
- Knowledge Library - Online
context sensitive help with ‘how to’ guides and search
capability.
“Celent continues to see significant investment in both the
individual and group space for new, modern technology,” said Tom
Scales, Celent, Head, America’s Life and Annuity. “From the
front-office to back-office and more, innovation investment is
growing. It is great to see the vendor community making significant
investments as well.”
Majesco CloudInsurer leverages Majesco’s experience with over 40
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. With
preconfigured content, Majesco solutions 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.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190417005114/en/
Tara Dilzer AlexanderDirector, Marketing Communications and
Creative Services+1 718 916
6873tara.dilzeralexander@majesco.com
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