Majesco Research Reveals Modernization as Critical Backbone for Retirement & Pension Administration and Pension Risk Transfer

Rising Complexity, Cyber Risk, Member Expectations and Ecosystem Convergence Elevate Cloud-Native, AI-Enabled Platforms as a Strategic and Operational Mandate

MORRISTOWN, N.J.--(BUSINESS WIRE)--Majesco, the insurance and retirement & pension industry’s foremost innovator in cloud-native, AI-native software today announced the release of its new thought leadership report, Technology Trends Shaping Retirement & Pension Administration and Pension Risk Transfer (PRT). The report highlights how member demographic shifts, regulatory pressure, cyber threats, and converging pension–insurance–PRT ecosystems are turning modernization into a strategic and operational mandate for public-sector, private, and multiemployer retirement organizations.

Based on the Retirement Plan Administration Technology Trends survey of senior leaders across state and local retirement systems, transit authorities, utilities, school systems, and other public-sector entities, insights from an executive panel and a detailed case study with a retirement & pension organization, the report reveals an industry under intensifying pressure to modernize aging and manual administration environments while strengthening trust, transparency, and resilience.

“Retirement and pension systems are the operational backbone of the social contract — and that backbone is being rebuilt, in real time,” said Denise Garth, Chief Strategy Officer at Majesco. “Administrators can no longer rely on fragmented, manual, legacy environments and expect to keep pace with member demographic change, increasing service expectations, regulatory scrutiny, and converging pension–insurance–PRT ecosystems. Modernization is now a fiduciary obligation. The organizations that move to next-gen cloud-native, data-driven, and embedded AI platforms will be best positioned to deliver accurate benefits, adapt to market shifts, and participate credibly in the next era of retirement and pension administration.

Five important trends demonstrate the modernization mandate for retirement and pension administrators include:

1) Legacy Complexity and Fragmentation Are Structural Constraints to Progress – Excessive manual work, legacy systems with fragmented and competing sources of truth, and high time and cost to implement enhancements or regulatory changes have become a structural barrier to scalability, agility, analytics, and converged pension–insurance–PRT journeys.

2) A Clear Target State Exists: Cloud-Native, Data-Driven, and AI-Ready – Leaders converge on a coherent vision centered on user-friendly, natural language interfaces; automated workflows; AI-driven user experiences and self-service portals; built-in compliance and audit support; and cloud-native architectures that embed governance and enable continuous change.

3) Modernization Is a Mission-Centric, Fiduciary Mandate, not a Discretionary IT Upgrade – Executives frame modernization as how they sustain fiduciary excellence at scale — strengthening operational resilience, governance transparency, audit readiness, and member and employer trust during benefit-critical life events, not as a project to pursue only when budgets are flush.

4) Automation, Digital Experiences, and AI Are the Operational Engine of the Next Era – Organizations are targeting high-friction, high-volume processes such as eligibility, contributions, claims, benefit calculations, and correspondence for automation and AI assistance, using self-service portals and AI-enhanced interactions to improve experiences for members, employers, and providers while freeing staff for higher-value work.

5) Platform-Ready Organizations and Partners Will Lead Ecosystem Convergence and PRT – As liabilities and member journeys move across sponsors, insurers, and PRT structures, organizations with cloud-native, unified platforms, governed data, open APIs, and convergence-minded partners will be best positioned to participate in a more interconnected retirement ecosystem without constant re-platforming.

Highlighting the report findings, a detailed case study of a retirement and pension organization demonstrates what sustained modernization looks like in practice. By transitioning to Majesco V3locity, consolidating fragmented data, and aggressively automating high-volume processes, the organization moved eligibility and claims from 0% auto-adjudication in 2016 to over 80%, digitized pension calculations and automated invoices and payments. The business value impact is member portals have simplified access, improved transparency, and strengthened trust—illustrating how modernization can simultaneously enhance operational efficiency, governance, and member experience.

Read the full report here: 2025 Technology Trends Shaping Retirement & Pension Administration and Pension Risk Transfer (PRT).

About Majesco
Majesco isn’t just riding the AI wave – we’re leading it for the P&C, L&AH, and Retirement and Pension markets. Born in the cloud and built with an AI-native vision, we’ve reimagined the insurance and pension core as an intelligent platform that enables insurers and pension & retirement providers to move faster, see farther, and operate smarter. As leaders in intelligent SaaS solutions, we’ve embedded AI and Agentic AI throughout our robust product portfolio of core, underwriting, loss control, distribution, and digital solutions, and pension & retirement administration so our customers can reimagine their business with real-time business insights, optimized operations, and enhanced business outcomes. Everything we build is designed to strip away complexity and let our clients focus on what matters: delivering exceptional products, experiences, and long-term financial security for policyholders and plan participants.

In a world where change is constant, our native-cloud SaaS platform empowers insurers, MGAs, and pension & retirement providers with the agility to adapt to evolving risk, regulation, and market expectations, modernize operating models, and accelerate innovation at scale. With 1400+ implementations and more than 375 customers worldwide, Majesco is the AI-native solution trusted to power the future of insurance and pension & retirement. Break free from the past and build the future of insurance at www.majesco.com.