Majesco

Majesco is a leading provider of insurance technology solutions designed to help insurers modernize, innovate, and connect to their ecosystems to meet the demands of the digital age. Majesco’s cloud-based platform offers a comprehensive suite of software for core insurance operations, including policy administration, billing, claims management, data analytics, and digital engagement. With a focus on agility, scalability, and rapid product development, Majesco empowers insurers to transform their operations, enhance customer experiences, and drive growth in the life, annuity, health, and property & casualty (P&C) insurance sectors.

Key Features:

1. Majesco P&C Core Suite: This suite includes Policy, Billing, and Claims management systems that streamline core operations across the insurance lifecycle. Designed for P&C insurers, the suite enhances efficiency, reduces costs, and improves the overall customer experience.

   • Policy for P&C: A flexible policy administration system that supports end-to-end policy lifecycle management, including quoting, underwriting, policy issuance, and renewals. The platform’s low-code configuration tools enable insurers to quickly design and launch new products.

   • Billing for P&C: A robust billing solution that manages invoicing, payment processing, collections, and disbursements. It provides multiple payment options, automated billing cycles, and self-service capabilities for policyholders.

   • Claims for P&C: Majesco’s Claims system streamlines the claims process from first notice of loss (FNOL) to settlement. It features advanced claims intake, fraud detection, automated workflows, and communication tools that enhance claims handling and customer satisfaction.

2. Majesco L&A and Group Core Suite: Tailored for life, annuity, and group insurers, this suite integrates policy administration, billing, and claims management to support the unique needs of L&A and group benefits insurance. It accelerates product launches and optimizes policyholder and group member interactions.

3. Majesco Digital1st® Insurance: A digital platform that enables insurers to rapidly deploy digital solutions, enhance customer engagement, and connect to the broader insurance ecosystem. Digital1st® Insurance includes self-service portals, mobile apps, chatbots, and digital payment capabilities, allowing insurers to provide a seamless digital experience.

4. Low-Code/No-Code Configuration: Majesco’s platform features low-code/no-code tools that allow business users to configure products, design workflows, and adjust business rules without extensive technical expertise. This agility helps insurers respond quickly to market changes and regulatory updates.

5. Cloud-Based Architecture: Majesco CloudInsurer® provides a secure, scalable, and continuously updated cloud environment that reduces IT costs, improves system performance, and accelerates implementation timelines. The cloud-based model ensures insurers have access to the latest technology and features.

6. Data and Analytics: Majesco offers advanced analytics and data visualization tools that provide actionable insights into business performance, customer behavior, and market trends. The platform’s AI and machine learning capabilities help insurers optimize underwriting, detect fraud, and improve claims outcomes.

7. AI and Machine Learning: Majesco integrates AI and machine learning across its solutions to enhance decision-making, automate routine tasks, and improve operational efficiency. These technologies are applied in areas such as underwriting, pricing, claims processing, and customer service.

8. Integration and Open APIs: Majesco’s platform supports seamless integration with third-party applications, InsurTech solutions, and legacy systems through open APIs and connectors. This flexibility allows insurers to expand functionality, connect to new data sources, and create a connected digital ecosystem.

9. Regulatory Compliance and Security: Majesco provides compliance management tools that help insurers adhere to industry regulations. The platform’s automated compliance updates and robust security features ensure that data is protected and regulatory standards are met.

10. Customer and Agent Engagement: Majesco offers digital engagement solutions that empower policyholders, agents, and brokers with self-service capabilities, including online policy management, claims filing, and billing inquiries. These tools enhance the overall customer journey and strengthen agent relationships.

Benefits:

• Accelerated Product Development: Majesco’s low-code/no-code configuration capabilities enable insurers to rapidly develop and launch new products, adapting to market demands and staying ahead of competitors.

• Operational Efficiency: By automating core processes and integrating workflows, Majesco reduces manual work, minimizes errors, and increases overall productivity.

• Enhanced Digital Experience: Digital engagement tools provide customers and agents with easy access to policy information, claims status, and billing, improving satisfaction and loyalty.

• Scalable Cloud Solutions: Majesco’s cloud-based architecture provides insurers with a secure, scalable platform that supports business growth, reduces IT maintenance, and ensures access to the latest innovations.

Target Users:

Majesco is ideal for life, annuity, health, and P&C insurers, including carriers, MGAs, and reinsurers seeking to modernize their core systems, drive digital transformation, and enhance customer engagement. It caters to insurers of all sizes looking for a flexible, scalable, and integrated platform to optimize their operations and accelerate growth.

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