Majesco Unveils 'Majesco Copilot': A Breakthrough in Insurance Solutions

Cutting-edge Microsoft Generative AI technology integrated into Majesco Intelligent Platforms heralds a new era of intelligent insurance software

MORRISTOWN, N.J.--(BUSINESS WIRE)--In a move to accelerate transformation and reshape the insurance industry, Majesco, a global leader in cloud insurance platform software, is proud to announce the launch of Majesco Copilot. This solution has been developed in collaboration with Microsoft, seamlessly incorporating their cutting-edge AI models through Microsoft’s Azure OpenAI Service into Majesco solutions for P&C and L&AH insurance.

Majesco Copilot harnesses the capabilities of Azure OpenAI Service to streamline processes, optimize data handling, and elevate the user experience, marking a significant advancement in the way insurance professionals interact with insurance software platforms.

Majesco Copilot promises transformative advantages, including:

• Embedded Intelligence: Majesco Copilot acts as a dynamic digital assistant within Majesco products, facilitating user interactions across P&C and L&AH insurance offerings.

• Majesco Copilot assists in deciphering complex policy details, addressing policy queries, generating correspondence, providing loss control guidance, proposing claims injury categorizations, and numerous other user-system interactions.

Introduced in the Fall '23 release, Majesco Copilot is an immersive GenAI solution with impactful use cases that boost productivity, enhance decision-making, and elevate the overall customer experience.

Copilot In Policy: Simplifies the comprehension of intricate policy details, streamlines correspondence, and accelerates routine tasks, including member summaries and dynamic dashboard visuals.

Copilot In Billing: Simplifies data retrieval, payment data requests, and other customer service inquiries related to billing.

Copilot In Claims: Enhances notetaking, correspondence drafting, and customer inquiries with AI-powered assistance.

Copilot In Loss Control: Empowers users with detailed risk recommendations by leveraging LLM capabilities combined with historical loss control data.

Majesco Copilot is firmly rooted in AI principles and Responsible AI Standards, developed based on the Microsoft 365 Copilot blueprint, showcasing Majesco's unwavering commitment to enterprise data security and privacy. Majesco Copilot sets a new standard by delivering enterprise-ready AI at scale for insurers, a pioneering achievement in the Core insurance platform market.

Patrick Davis, Majesco's SVP & GM for Data & Analytics, remarked, "This isn't just another product launch; it's a transformative moment for the insurance industry. Majesco is proud to bring a generative AI copilot to its users. Our collaboration with Microsoft exemplifies our dedication to delivering forward-thinking solutions for the industry."

Echoing this sentiment from the Microsoft side, Jim DeMarco, Lead of Insurance Advisory, Americas at Microsoft stated, "We are delighted to collaborate closely with Majesco in creating Majesco Copilot. This collaboration exemplifies how powerful technologies can come together to create solutions that push boundaries. It further solidifies our relationship with Majesco, a company that continually demonstrates its dedication to innovation and excellence."

With the introduction of Majesco Copilot, both companies reaffirm their commitment to driving technological advancements in the insurance sector. Industry professionals can now anticipate an unparalleled core business platform that not only simplifies operations but also delivers insights and analytics like never before.

For more information about Majesco Copilot and its capabilities, interested parties can visit the Majesco website or get in touch with the company's representatives. For additional details, please check out the Fall '23 Majesco Product Release.

About Majesco
Majesco is the partner P&C and L&AH insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what is 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 and analytics, digital, and rich ecosystem of partners to create their next now.

As an industry leader, we do not 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.