Majesco is a software provider of cloud insurance platforms to meet property and casualty needs and life and annuity markets. Their product offerings include distribution management, digital, and data analytics solutions.
Majesco boasts an outstanding overall employee satisfaction score of 3.8, but its career growth rates fall below average. Learn more about what it’s like working at Majesco with our comprehensive review.
What is Majesco’s business model?
Majesco’s business model provides insurers with a comprehensive insurance software platform to address P&C and L&A insurer needs in core, digital, analytics, distribution, and engagement solutions. Their cloud-native technology platform utilizes next-gen microservice-based multitenant architecture, which supports multiple user personas allowing insurers to meet market and customer demands quickly by designing solutions with efficient designs that can easily be implemented into the system.
Majesco provides P&C insurers with an online platform that assists them with policy, billing, claims, and underwriting, as well as no-code and low-code app development solutions to create visually engaging apps to deliver personalized customer experiences. Their L&A solution helps manage individual, group, and voluntary benefits on one platform. At the same time, their analytics and data management capabilities enable predictive models that accurately reflect customer behaviors while optimizing products and services offered by Majesco.
MajescoMastek demerged from Mastek and consolidated its insurance business internationally under a single brand, Majesco. Today, Majesco brings together next-gen technology, expertise, and leadership to enable insurers to modernize, innovate, connect, and build the future of their businesses at lightning speed. Their industry-specific platform and rich ecosystem of traditional and InsurTech capabilities provide insurers with a distinct competitive edge and reduced total cost of ownership – currently used by over 190 insurance carriers globally.
What is Majesco’s vision?
Majesco envisions an insurance world in which insurers can accelerate digital transformation and adapt at the speed of risk. They support insurance professionals in modernizing their businesses through market-leading software, consulting services, and services that enable them to deliver exceptional customer experiences. Majesco provides platforms, policy administration tools, analytics capabilities, distribution management solutions, and cloud solutions explicitly designed to help insurers meet changing business needs.
Majesco Claims for P&C is an innovative claims management solution created by P&C experts for adjusters, designed to help them efficiently meet today’s complex commercial property and casualty (P&C) insurance demands. This business rules-driven and robust configurable system offer real-time visibility into every aspect of claim handling for real-time efficiency gains while upholding quality service levels at minimal costs for their customers.
Insurance is evolving incredibly, forcing insurers to adapt quickly in response. The Majesco Suite for L&A and Group gives insurers the tools to accelerate their digital transformation journey while giving them agility, flexibility, and capacity to create personalized experiences using data-driven capabilities.
Majesco Suite for L&A is an advanced and comprehensive system that offers underwriting, admin, and claims processing support for Life, Accident & Health (Life, AD&D, LTD Hospitalization CI Gap) as well as Group Voluntary Benefits such as Group AD&D Administration Benefits Administration Absence Leave Management Billing). Pre-integrated with Majesco P&C core system portfolio, it also has the flexibility to integrate with other industry software systems.
What is Majesco’s strategy?
Majesco’s insurance cloud platform combines cutting-edge technology and industry expertise to help insurers meet rising customer expectations, transform their business, and become more agile. It features core solutions like policy, claims, billing and underwriting management, distribution management, BI analytics, and low-code, no-code development platforms to create visually engaging applications enabling innovative new products.
Majesco partners with its clients to craft an insight-driven roadmap that produces focused results, expedited implementation and adoption, seamless operating models, and rapid scale. Majesco’s digital platform features modern API architecture for fast integration to drive agility, innovation, and sustainable growth.
Majesco provides an industry-leading insurance suite of software, IT services, and consulting designed to assist insurers in managing P&C, life, annuity, health, pension, and group benefits insurance policies in North America, Europe, Asia, and Australia. Majesco services medium and large organizations within the worldwide insurance and IT/services/financial services industries.
Majesco annually asks insurers to rate themselves on a scale from 1-10 across six strategic priorities, and the results reveal apparent gaps among Leaders, Followers, and Laggards that have widened since 2016. Using Majesco’s new report as a basis, insurers can create an insight-driven transformation strategy designed to bring reality closer in line with expectations.
What is Majesco’s competitive advantage?
Majesco offers technology, expertise, and leadership to assist insurers with modernizing and innovating to create sustainable growth in their business and insurance itself. Their next-generation SaaS platforms for core, analytics, digital distribution management, and an ecosystem marketplace of established and InsurTech partners enable insurers to deliver innovative customer experiences that lead to sustainable growth.
Majesco offers comprehensive insurance solutions software, and IT services that cover policy administration, underwriting, new business processing, claims management, product modeling, producer lifecycle management, and billing – as well as consulting services focused on data conversion, testing, BI/data warehouse integration, mobility integration enterprise integration.
MajescoMastek broke away from Mastek and consolidated all its insurance business under one brand, Majesco. Additionally, Majesco acquired multiple policy administration systems providers, such as Vector Insurance Services and SEG Software Inc, and IP-based enterprise provider Systems Task Group in North America.
Majesco, with operations worldwide and more than 3,700 employees globally, is headquartered in Morristown, NJ with operations worldwide. It is traded on the NASDAQ Global Select Market under the symbol MJCO and holds a rating of 3.8 on Glassdoor as an employer; CareerBuilder recognized them as a top employer and boasting one of the best cultures within its industry.