Announcing General Availability of the Spring ’22 Release of Majesco’s Market Leading P&C Core Suite
Today’s customers expect more from their insurance carriers. They view insurance coverage as a combination of protection from risk, value-added services, with a personalized, consistent, transparent, and convenient customer experience − everything from sophisticated price quoting to rapid claims processing − all of which require new data sources and technology. The highly competitive digital and data race to the future requires leaders to invest in innovative next generation intelligent core, digital, and data technology. Proactive market leaders are redefining the competition in terms of new products, underwriting, pricing, service, billing, and claims and most importantly customer experience.
“In today’s ever-changing market, customers are looking for a better experience that can be managed with digital tools and digital proficiency,” said
The Spring ’22 release highlights Majesco’s continued strategic investment in the next-generation SaaS platform for the P&C market segment across personal, commercial and specialty lines to accelerate insurer’s ability to meet expanding customer expectations by launching new products and creating personalized digital customer experiences across the value chain. Key elements for Majesco P&C Core Suite Spring ’22 release include:
- Embedded AI/ML Analytics – Embedded property score-based assessment with AI / ML based hazard insights on properties to enhance risk management using imagery, permit and peril data, to improve the speed and accuracy of quoting, underwriting, rating to empower underwriting teams with a comprehensive assessment of property conditions and hazards.
- Advanced Reinstatement Capabilities – Enhanced capabilities to help customers calculate reinstatement costs with “Amount to Reinstate” details along with a drill down 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 and unified views that enable intelligent and comprehensive risk assessments for improved underwriting and identify opportunities to proactively mitigate risk, that together enhance customer experiences and push competitive boundaries.
- Cutting Edge Self-Serve Bureau Adoptions – Commercial Lines and Workers’ Compensation insurers now have a cutting-edge capability to stay current with the latest rates, rules, and forms to remain compliant with regulatory changes and ISO, NCCI and other bureau content. The innovative self-serve capability enables simplicity, independence, consistency, and efficiency through a wizard-based adoption process while providing an auto adoption option to update Majesco Policy for P&C with the circulars with no manual user intervention through the monthly updates.
“Insurers are investing in technology that is constantly evolving to enable them to respond quickly to shifting customer needs that will support true digital interactions while also improving their operational efficiency and decisioning capabilities, said
Majesco’s P&C and Group Core Suite has been recognized by industry experts including Celent, Gartner, Aite-Novarica, Quadrant Solutions, and ISG.
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