MORRISTOWN, N.J.--(BUSINESS WIRE)--Majesco, a global leader of cloud insurance platform software for insurance business transformation, announced today that the Majesco L&AH Core Suite is recognized as a Dominant Provider in the Aite-Novarica Life/Annuity/Benefits Policy Administration Report. The report evaluated 21 core policy administration systems within North America. According to the report, Dominant Providers are strong market players with momentum, and their solutions in the segment are well known.
The Aite-Novarica report analyzed the latest business and IT trends in the core systems market and compared the vendors' offerings and strategies to help insurance carriers make informed decisions when selecting new partners. The report also examined the vendors' key features and capabilities, technology stack, client base, lines of business supported, as well as implementation approaches.
"The needs of today's demanding individual, group, VB and worksite businesses require robust, scalable solutions, architected to create real business value and opportunities for growth,” said Nancy Casbarro, Senior Principal for Life and Annuity at Aite-Novarica. “A core policy administration suite, like what Majesco is now offering, can be foundational to the success of insurers moving into the future by launching new products or undergoing business transformation."
Majesco L&AH Core Suite is a cloud-native SaaS platform that offers next-generation policy capabilities that can transform the business and accelerate growth strategies by providing insurers with the agility, innovation, and speed needed to succeed in the fast-changing market. The platform empowers carriers with the flexibility to create innovative products, meet shifting customer demands, and reduce investment, operating costs, and scalability risks. L&AH Core Suite reimagines individual, group, worksite, and voluntary benefits on a single platform to create innovative new products that meet the digital expectations and needs of today's customer.
"Majesco L&AH Core Suite being recognized as a Dominant Provider by Aite-Novarica is a great honor,” said Manish Shah, President and Chief Product Officer at Majesco. “Our SaaS-based cloud strategy's maturity enables us to provide our customers with rich capabilities, allowing them to adapt to market changes rapidly. This in tandem with our flexible and powerful configuration, open APIs, robust ecosystems, pre-configured content, embedded intelligence, and other cutting-edge technologies, allows companies to achieve speed to value and gain a leadership position by innovating ahead of their competitors. Given the industry’s rapid pace of transformation, it’s critical to have forward-thinking strategy that enables customers to optimize and innovate their operations."
"This recognition speaks to our commitment of excellence in providing innovative products that offer our customers digital transformation opportunities to accelerate their growth and profitability in the Life, Annuities, and Benefits market space,” said Adam Elster, CEO of Majesco. “In today’s highly competitive market, our customers are looking to us for leadership to guide them through today's uncertainty while helping them be ready to meet the needs of the technology-driven world tomorrow. We are thrilled that Aite-Novarica acknowledges our efforts in rising to meet this challenge with our talented team’s relentless commitment."
Majesco is the partner P&C and L&A insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what’s next, without losing sight of what’s important now. Over 350 insurers, from greenfields and startups to some of the world’s largest insurers, rely on Majesco’s SaaS platforms solutions of core, data, analytics, digital, and rich ecosystem of partners to create their next now.
As an industry leader, we don’t believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 900+ successful implementations we are uniquely qualified to bridge the gap between a traditional insurance industry approach and a pure digital mindset. We give customers the confidence to decide, the products to perform, and the follow-through to execute. For more information, please visit www.majesco.com and follow us on LinkedIn.