Majesco – Working With Insurers to Modernize and Innovate

Majesco works with insurers to modernize and innovate for the future of insurance. Their next-generation SaaS platforms – core, data & analytics, distribution & digital – enable over 350 insurers, reinsurers, brokers & MGAs.

Intelligent P&C Core Suite allows insurers to accelerate digital transformation and respond quickly to customer demand and market opportunities. It combines policy, billing, and claims components with built-in content and the Configuration Toolset to increase visibility, agility, and speed when managing insurance systems.

Cloudinsurer

Majesco CloudInsurer is a cloud infrastructure platform that empowers insurance providers to use cutting-edge technologies to transform complex experiences for their customers into simple ones. It provides core, digital, distribution management, and data/analytics solutions to meet customer demands while meeting increased market competition and operational challenges.

Majesco P&C Core Suite is a modern, scalable, and flexible platform that supports all lines of business. It includes built-in content and an easily configurable toolkit designed to empower IT and business users and facilitate rapid implementation of changes that took weeks or months to implement.

Providers can leverage cutting-edge technologies, including integrated analytics, automated processes, and exception underwriting streamlined exception underwriting processes, to enhance risk evaluation and decision quality, giving their customers access to adequate protection at a fair cost.

Majesco offers an expansive array of life and group insurance provider solutions, including an end-to-end core suite that includes policy, billing, and claims processing. This system helps insurance providers grow their businesses by meeting customers’ unique needs while creating competitive differentiation and speeding digital transformation with advanced capabilities for product development, distribution, and product lifecycle management capabilities. This comprehensive offering is complete with flexible and scalable business services like business process automation, customer engagement, and business continuity support.

Ecoexchange

Majesco recently unveiled new partner self-service capabilities and expanded services available through Digital1st EcoExchange, its live service hub of an insurance platform. These enhancements will enable insurers to rapidly accelerate innovation while creating an improved customer service experience for customers. Furthermore, the CloudInsurer P&C core suite integrates directly with many EcoExchange partner apps.

One Inc’s ClaimsPay allows for fast and secure digital payments that match policyholders’ preferred channels and methods, offering a smooth customer experience and increasing retention and satisfaction. Majesco’s seamless integration with CyberCube will enable the use of more sources of data, signals, and models during underwriting, rating, and risk modeling processes related to cyber insurance policies.

Majesco has launched several partnerships and applications and an innovative Reinsurance Platform enabling brokers and carriers to manage their reinsurance contracts and pools efficiently. This platform supports transactions for all major lines of business. This digital initiative from Majesco forms part of its overall digital strategy.

Alicja, a junior at Holton-Arms School and founder of EcoExchange, is on a mission to reduce waste. Her organization runs community collection drives that promote reusing items instead of tossing them away and leaving them in a landfill. Furthermore, EcoExchange provides educational resources regarding its effects on both environment and community.

Digital1st Insurance

Insurers are working to transform business and technology models to meet customer and distribution channel expectations, with digital platforms playing an essential part in this transformation journey. Majesco Digital1st Insurance provides insurers with a micro-services and API-based SaaS solution that enables faster innovation than the market and drives value creation – it is tightly integrated with Microsoft Azure and specifically tailored for the insurance industry’s unique challenges.

At its core is an agile architecture with high-fidelity digital experiences that deliver robust cloud infrastructures for insurers to develop new digital experiences, increase operational efficiencies and productivity of channels, deliver superior customer experiences, and meet regulatory compliance requirements. Insurers can use this platform to develop new digital experiences while meeting regulatory compliance requirements more efficiently.

Digital1st Insurance supports multiple business and digital processes, such as policy, billing, and claims. It can be deployed as a single suite or multi-cloud strategy and supports various digital channels, including mobile apps and voice. In addition, Digital1st features an impressive set of out-of-the-box integrations and an intuitive user interface.

Majesco recently announced an expansion to their Digital1st platform with One Inc’s ClaimsPay digital payment solution, giving customers access to claims payments via direct deposit, prepaid debit card, or PayPal – including single and multi-party disbursements to homeowners, mortgagees, vendors, and lienholders. This integration works directly into Majesco P&C Core Suite to deliver faster payouts for claims payments to these preferred channels and methods.

Digital1st Engagement

Digital1st Engagement is a portfolio of apps designed to deliver optimized and tailored customer journeys, using cutting-edge tools that consider individual user preferences and deliver tailored experiences. Furthermore, it monitors critical touchpoints to improve recommendations and offer more relevant products, further increasing Majesco’s core software suite value while expanding its user base.

Businesses using automated support tasks to streamline operations and provide consistent, personalized experiences across channels can operate more efficiently and improve their bottom line while using customer data for decision-making and resource allocation.

Insurance carriers must evolve their business models to succeed in an on-demand economy. Still, they are frequently confronted by obstacles that prevent this transformation, including limited technology investments and skilled talent shortages, legacy systems reliance, and limited investments in innovation tools. To meet these challenges, insurers require a new model which facilitates quick and efficient innovation processes.

Majesco Digital1st Insurance Platform is a microservices-based solution with a pay-as-you-grow model that is an agile foundation for the insurance industry’s future. This solution includes prebuilt engagement apps for complex functions. It allows insurers to craft personalized customer experiences, offering a single point of contact for customers while connecting seamlessly to One Inc ClaimsPay to help insurers accept online payments easily. Its straightforward configuration and deployment make this an ideal choice for insurers of all sizes!