Majesco, a global leader of cloud insurance software solutions for insurance business transformation, announced that it has been recognized as a Technology Leader in Quadrant Knowledge Solutions “SPARK Matrix™: Life Insurance Policy Administration System, 2021”.
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The Quadrant Knowledge Solutions SPARK Matrix™ includes a detailed analysis of global Life Insurance Policy Administration System market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the major Life Insurance Policy Administration System vendors in the form of SPARK Matrix™, providing strategic information for users to evaluate different vendor capabilities, competitive differentiation, and market positions.
“Majesco’s L&A suite provides a full set of end-to-end offerings for policy, billing, and claims. With its key differentiators including speedy configuration with out-of-the-box products, business rules, calculations, algorithms, and workflows for rapid deployments; support for groups and individuals and intuitive 360-degree dashboards, Majesco delivers a strong customer value proposition,” said Pradnya Gugale, Analyst at Quadrant Knowledge Solutions. “With the overall offerings for both individual and group policyholders, robust key capabilities and roadmap, Majesco has been positioned amongst the technology leaders and has received strong ratings across the parameters of technology excellence and customer impact in the 2021 SPARK Matrix: Life Insurance Policy Administration System market.” adds Pradnya.
“Nearly every insurance company is talking about transforming their business, recognizing the significant need to improve both operationally and innovatively to enable sustainable growth,” said Manish Shah, Chief Product Officer and President of Majesco. “This era of benefits, group and individual insurance is different than just a few years ago, as insurers now feel the pressure to develop tailored, simple, affordable, digital products to meet the dynamic needs of customers. Our L&A and Group Core Suite provides a strong foundation for real transformation and innovation, and we are honored to be recognized as a technology leader by Quadrant Knowledge Solutions.”
Majesco L&A and Group Core Suite, supports individual, group, and voluntary benefits on a single platform, recognizing that nurturing and retaining customers, regardless of where they originate, is critical to insurers’ growth strategies. The suite provides core insurance capabilities for policy, billing, and claims. The design and innovative product chassis enable rapid adaptation for new, innovative products or benefit plans, giving insurers the power, flexibility and speed needed to capture opportunities and keep them at the leading edge.
“At Majesco we continue to work towards strengthening our offerings by aggressively focusing on customer satisfaction,” said Adam Elster, CEO of Majesco. “We are committed to providing next-gen core offerings that enable our customers to solve complex and industry-specific challenges, driving sustainable growth and innovation. Our recognition as a Technology Leader by Quadrant Knowledge Solutions is a testament to our team’s passion for relentless innovation. We look forward to continuing to work with our customers and partners to build the future of insurance.”