What is the History of Majesco?

Majesco’s industry-specific policy administration platform equips agencies to offer more customer-centric experiences. It features a carefully curated ecosystem of traditional and insurtech options designed to foster innovation while supporting change at risk speed.

Majesco was acquired by Thoma Bravo in September 2020, subject to customary closing conditions, including regulatory approvals.

Founded in 1986 by Morris Sutton

Morris Sutton, the founder of Majesco, was a former investment banker and electronics distributor. With two of his sons as business partners, he created Majesco. He built its niche market by offering video game titles that had been abandoned by their original publishers as well as those featuring famous movie and TV characters. Morris later served as Executive Vice President of Sales of Majesco.

Majesco began developing its games in 2002, including BloodRayne: Seductress with Gun. They hoped to capitalize on its success through apparel, collectible licensing deals, and creating GBA Video cartridges that played full-length animated movies.

Majesco, established in Edison, New Jersey, is a family-owned manufacturer of interactive digital gaming and related gadgets. The company designs publishes, and distributes games across various hardware platforms and price points, with Pipe Dream Interactive responsible for top-selling titles like Tom Clancy’s Rainbow Six: Rogue Spear for the Sega Dreamcast platform as well as Soldier of Fortune and Star Trek Voyager: Elite Force on PlayStation 2.

Majesco experienced a disastrous venture into premium console games in 2006, leading to an immediate sales decline and forcing Majesco to cut development and selling, and marketing expenses. Morris Sutton then decided to step down as both CEO and chairman of the board, instead working as a consultant and receiving payment in cash and stock options as compensation.

Founded as Majesco Sales Inc.

Majesco offers insurance technology solutions that enable insurers to modernize and innovate for the future of their business. Their core software offerings include policy administration, underwriting, new business processing, and billing claims distribution. In addition, Majesco provides insurance-specific IT services such as testing migration warehousing BI mobility enterprise integration.

Morris Sutton founded Majesco Sales Inc. of Edison, New Jersey, in 1986 as Majesco Sales Inc. The company quickly rose to become one of the significant providers of games and videos for Nintendo Game Boy hardware lines such as BloodRayne and its sequels. Furthermore, Majesco Sales was among the first third-party publishers to release cartridges with full-length animated video movies for Nintendo handheld systems.

Majesco Entertainment Company changed to Majesco Entertainment Company in April 2005 and later transitioned to casual games development. This led to Cooking Mama and its spinoffs, Zumba fitness franchise-based fitness games, and GBA video games featuring popular cartoon characters produced.

Majesco currently boasts over 200 customers from P&C, L&A, and Group Benefits using its core insurance software platform solutions. Their platform approach enables clients to transform their businesses quickly while offering consumers compelling experiences at scale and speed. Their philosophy centers around offering innovative, hyper-relevant experiences with personalized and relevant coverage options that deliver value at scale and speed for all involved.

Founded as Majesco Entertainment Company

Majesco was essential in driving video gaming forward during its rise to worldwide popularity. Beginning as a distributor for games left unpublished by their original publishers, Majesco expanded into in-house game development and manufacturing for titles like BloodRayne and its sequels; Psychonauts; Black & Bruised; and Advent Rising.

Majesco began focusing more heavily on value-priced handheld games, such as Sony’s PlayStation Portable and Nintendo’s DS, and less heavily on premium-priced console games, such as console and PC versions of the BloodRayne franchise. Furthermore, Majesco signed apparel and collectible licensing agreements shortly after shipping out PC versions to retail stores nationwide.

Majesco struggled despite these improvements, producing 17 titles in 2001 – only half the output of the top two video game publishers like Electronic Arts and Activision. By 2002’s second half, Majesco became public by purchasing ConnectivCorp in a reverse merger takeover and becoming a public company.

Majesco recently completed a merger with PolarityTE, a tissue regeneration technology firm. The post-merger firm will operate under PolarityTE’s name while continuing to produce interactive digital games and related products for insurance carriers worldwide. Major Majesco customers span property & casualty, life & annuity, and group and worksite benefits.

Founded as MajescoMastek

Majesco provides core insurance software, consulting services, and business transformation for the insurance industry. Their solutions span policy management, claims management, product development, distribution management, and data and analytics. Their solutions have been adopted by over 80 insurers spanning properties and casualty insurance to life annuity pensions and group employee benefits providers with their technology-based products and services, helping automate processes, enhance customer experiences, and mitigate risks effectively.

In 2014, Majesco completed its breakaway from Mastek and consolidated all international insurance businesses under one brand name – Majesco. Additionally, they acquired Agile Technologies Consulting Firm and Cover-All Technologies Software as acquisitions and hired Adam Elster as CEO in 2018.

Elster believes the company’s recent market valuation understates its true worth, as evidenced by its success and acceptance by leading insurance carriers. Furthermore, Elster cites how rapidly growing it is with significant operating leverage.

Neervannan brings extensive global leadership and technology experience. He has held senior management roles at H&R Blocks Option One, Florida Power & Light, and Expeditrix; holds a master’s degree in operations research and computer science from Bowling Green State University of Ohio; served in senior engineering roles at Framesoft before leading it when acquired by Oracle; holds multiple patents;