Majesco Acquires InsPro Technologies: Strengthens and Scales Position in L&A and Group Segment

2020 APR 14 (NewsRx) -- By a News Reporter-Staff News Editor at Mergers & Acquisitions Daily News -- Majesco (NASDAQ: MJCO), a leading cloud and SaaS provider for insurance businesses, announced that it has completed the acquisition of InsPro Technologies Corporation (OTCBB: ITCC), a U.S. based software leader in the life and annuity insurance market.

InsPro Technologies brings an insurance administration and marketing system that supports group and individual business lines, and efficiently processes agent, direct market, worksite and website generated business. Majesco expands their customer portfolio of leading insurers and third-party administrators who currently process over 15 million policies daily, including some with over a million policies each.

The expertise, talent and experience that the InsPro Technologies team brings is critical to meeting the demands of today’s digital customer and reinforces Majesco’s commitment to creating a future of insurance that is agile, nimble and fast. InsPro also strengthens and supports Majesco’s strategy to continue leading the industry with innovative, cloud-based solutions that help carriers take advantage of current market opportunities.

“Our acquisition of InsPro Technologies complements and expands one of our key strategic focus areas. We have been investing in our L&A and Group business and our solid performance and financial position allow us to continue partnering with companies to accelerate and enable their cloud journey and business transformation,” commented Adam Elster, CEO of Majesco. “We’re excited to welcome InsPro’s Technologies customers to our community and look forward to helping them build the future of their business.”

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