Today’s customers expect more from their insurance companies. They see insurance coverage as a combination of risk protection, value-added services, with a personalized, consistent, transparent and convenient customer experience, from sophisticated price quotes to fast claims processing, all of which require new data sources. and technology. The highly competitive data and digital race to the future requires leaders to invest in innovative next-generation data, digital and intelligent core technology. Proactive market leaders are redefining the competition in terms of new products, underwriting, pricing, service, billing and claims, and most importantly, the customer experience.
“In today’s ever-changing marketplace, customers are looking for a better experience that can be managed with digital tools and digital competence,” he said.
Spring ’22 launch highlights Majesco’s continued strategic investment in next-generation SaaS platform for the P&C market segment across personal, commercial and specialty lines to accelerate the insurer’s ability to meet growing customer expectations by launching new products and creating personalized digital experiences for customers throughout the value chain. Key items for the Majesco P&C Core Suite Spring ’22 release include:
- Integrated AI/ML analytics – Integrated property score based assessment with AI/ML based hazard insights into properties to improve risk management using images, permit and hazard data, to improve speed and accuracy of listing, underwriting and qualification to empower underwriting teams with a comprehensive property assessment. conditions and hazards.
- Advanced Reset Capabilities – Enhanced capabilities to help customers calculate reset costs with “Amount to Reset” details along with a detailed explanation of the calculation for a simple and error-proof user experience.
- Deep integration between Majesco Policy for P&C and Loss Control 360 –Deep integration for Personal and Commercial and lines of business to provide holistic, unified views that enable comprehensive, intelligent risk assessments to improve underwriting and identify opportunities to proactively mitigate risk, which together improve customer experiences and drive competitive limits.
- Vanguard Self-Service Office Adoptions – Business Lines and Workers’ Compensation insurers now have a state-of-the-art ability to keep up with the latest rates, rules and forms to remain compliant with regulatory changes and ISO, NCCI and other office content. The innovative self-service capability enables simplicity, independence, consistency and efficiency through a wizard-based adoption process, while also providing an automatic adoption option to update the Majesco Policy for P&C with circulars without manual user intervention through monthly updates.
“Insurers are investing in technology that is constantly evolving to enable them to quickly respond to changing customer needs that will support true digital interactions while improving their operational efficiency and decision-making capabilities,” he said.
Majesco’s P&C and Group Core Suite have been recognized by industry experts including Celent, Gartner, Aite-Novarica, Quadrant Solutions and ISG.
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Our technology, experience and leadership help insurers innovate and connect to build the future of their business. With more than 825 successful implementations and more than 65% of our customers in the cloud with
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