Majesco, a cloud insurance software solutions for insurance business transformation, has announced the availability of expanded capabilities of Majesco Digital 1st Insurance to evolve and accelerate insurers’ business and technology models in their digital Transformation.
“The demands of agility, speed and innovation are accelerating as we enter a new decade,” stated Adam Elster, CEO of Majesco. “To succeed in the future of insurance, which is coming faster than most realize, insurers must lay the groundwork of a new digital insurance business model. Future market leadership and success will be defined by focusing on the customer experience, business innovation, and technological leadership.”
Majesco research notes that a top motivator for digital transformation is driven by customer and distribution channel expectations of a much improved experience and ranks as a top strategic initiative. They are looking to new platforms with rich and robust capabilities that will enable speed of innovation to reimagine their future as digital insurer.
“We have strategically focused on the intersection of business and consumer technology trends that are relevant to the insurance industry,” stated Manish Shah, President and Chief Product Officer for Majesco. “Majesco Digital 1st lnsurance enables the insurance industry to accelerate their digitalization journey through new ways of designing and delivering compelling customer experiences. We are committed to provide a robust, rich set of capabilities, underpinned by an innovative architecture and technology to support the industry’s continued digital transformation. The variety of uses by customers today highlight the flexibility and innovation that can be delivered rapidly.”
Majesco Digital 1st Insurance provides a powerful platform that can be leveraged through a wide variety of use cases ranging from high-fidelity portals over core systems to well-rounded omni-channel and omni-device customer and agent experiences enriched through heterogeneous capabilities available through APIs.
The new and expanded capabilities are targeted to further improve the speed and agility, customer experience, connectivity to third party APIs, expanding ecosystems and more. These latest improvements are evidence of Majesco’s commitment to our Digital Platform with relentless innovation.
“Insurers increasingly understand that being a digital company requires an outside-in customer perspective,” stated Karen Furtado, Partner at Strategy Meets Action. “While many insurers have a digital strategy, bringing that strategy into action demands next gen technology platform to enable new business processes, products, services, and channels relative to the customer experience and new insurance business model. Solutions such as Majesco’s Digital 1st Insurance provides a platform that enables insurers to rethink digital insurance customer experiences.”