Insurers must make bold moves to transform their business, says Ossie
Infosys (NYSE: INFY) has formed a strategic collaboration with Morristown, New Jersey-headquartered Majesco, a global leader of cloud insurance software solutions, for insurance business transformation to help customers accelerate their digital transformation journey, enabling them to unlock new opportunities, address the demand for personalized customer experiences, operational effectiveness, and digital adoption across the insurance business value chain.
Infosys’ insurance domain and digital capabilities combined with Majesco’s cloud-based next-generation suite of solutions including the Majesco L&A and Group Core Suite, Majesco P&C Core Suite, and Majesco Digital1st® Insurance on Majesco CloudInsurer®, will accelerate business growth and innovation for the insurance industry.
The combined synergy will help Life & Annuity (L&A), Group, and Property & Casualty (P&C) customers transform their business and will benefit insurers in achieving agility and innovation at speed and scale.
“In an increasingly changing insurance marketplace of new customer expectations, new risks, new competitors and new innovative products, insurers must make bold moves to transform their business and meet the needs of a new digital era of insurance,” said Ed Ossie, Chief Operating Officer at Majesco.
“Insurers must optimize today’s business and create the future business to substantially increase their potential for success. Majesco’s and Infosys’ collaboration will help our joint customers accelerate their transformation and their path to the future of insurance,” said Ossie.
“We are excited to collaborate with Majesco to explore new opportunities and offer an enhanced digital experience to the insurance industry. In the new normal, insurers are exploring ways to offer hyper-personalized experiences and innovative coverage to acquire and retain customers,” Mohit Joshi, President, Infosys, said in a release on 18 May 2021 from Bengaluru.
“A few critical factors to realize these goals are faster time-to-market, flexible products with better configurability, integration with cloud hyperscalers and effective operations. Together, we will provide advanced insurance solutions to our customers and act as a catalyst in their transformation journey by delivering the next-generation digital insurance platform. Infosys and Majesco will bring more resiliency and customer-centricity to insurance carriers,” Joshi said.
Majesco provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling, and personal. Over 190 insurance companies worldwide in P&C, L&A, and Group Benefits are transforming their businesses by modernizing, optimizing, or creating new business models with Majesco. #technology #cloud #investment #insurance #banking /fiinews.com
