Cloud insurance software solutions provider Majesco has partnered with IT giant Infosys to help insurers speed up their digital transformation.
The strategic partnership will see the two firms helping joint customers open up new opportunities and address the demand for tailored customer experiences.
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The two parties will also cooperate on digital adoption across the insurance business value chain as well as operational effectiveness.
Infosys president Mohit Joshi said: “In the new normal, insurers are exploring ways to offer hyper-personalised experiences and innovative coverage to acquire and retain customers.
“A few critical factors to realise 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.”
The alliance integrates Infosys’ digital capabilities with Majesco’s cloud-based solutions. Among these cloud solutions are the Majesco L&A and Group Core Suite, Majesco P&C Core Suite, and Majesco Digital1 Insurance on Majesco CloudInsurer.
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By GlobalDataThe consolidated know-how is expected to be benefit Life & Annuity (L&A), Group, and Property & Casualty (P&C) customers.
Majesco COO Ed Ossie said: “Insurers must optimise 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.”
US-based private equity firm Thoma Bravo acquired Majesco in September last year.
The deal was announced in July 2020, with the private equity firm agreeing to pay $13.10 in cash for each share that valued the deal at $594m.
In August 2020, Thoma Bravo increased its offer price to $729m, pricing each share at $16.
