{"id":69760,"date":"2022-10-13T11:00:00","date_gmt":"2022-10-13T15:00:00","guid":{"rendered":"https:\/\/staging.majesco.com\/?post_type=press&p=69760"},"modified":"2022-10-25T09:29:17","modified_gmt":"2022-10-25T13:29:17","slug":"majescos-fall-22-product-release-empowers-insurers-to-accelerate-innovation","status":"publish","type":"press","link":"https:\/\/staging.majesco.com\/?press=majescos-fall-22-product-release-empowers-insurers-to-accelerate-innovation","title":{"rendered":"Majesco\u2019s Fall \u201822 Product Release Empowers Insurers to Accelerate Innovation"},"content":{"rendered":"\n

Morristown, NJ \u2013 October 13th<\/sup>, 2022<\/strong> \u2013 Majesco, a global leader of cloud insurance platform software for insurance business transformation, today announced the general availability of their Fall \u201922 Release<\/a> for all Majesco SaaS offerings including their market leading Majesco P&C Core Suite, Majesco L&AH Core Suite, Majesco Digital1st<\/sup>, Majesco Analytics, Majesco Distribution Management, Majesco ClaimVantage Claims, Majesco Absence Management and Majesco Loss Control.<\/p>\n\n\n\n

Insurance companies face many divergent challenges and opportunities. Customer expectations are rising, regulation is increasing, new risks are emerging, distribution channels are expanding, underwriting profitability is challenged, and digital demands are growing which are intensifying insurers\u2019 business transformation to drive operational effectiveness and innovation. These challenges and opportunities intensify the demand for next-gen technology solutions that provide a foundation to adapt, innovate and deliver at speed the ability to execute on strategy and market shifts. The rising importance in adoption of platform technologies, APIs, microservices, digital capabilities, new\/non-traditional data sources and advanced analytics capabilities are now crucial to industry leadership.<\/p>\n\n\n\n

To be industry leaders and compete, insurers must look at every aspect of their business in the context of the future, what customers expect and demand, and in next-generation technology is foundational for that future. Those who focus on next-gen core, incorporate new sources of data and analytics, expand channels to reach new market segments and customers, offer innovative new products and value-added services are leaping forward from the competition in operational effectiveness and growth.<\/p>\n\n\n\n

\u201cIt has never been clearer that the Insurance Industry is going through change. Industry needs are rapidly changing to align with volatile macroeconomic environment. While growth continues to be important, profitability is now taking a center stage in inflationary economy and major climate related events. Majesco\u2019s product roadmap is relevant to current and future needs of our customers,\u201d said Manish Shah, President & Chief Product Officer at Majesco. \u201cOur Fall \u201922 release launches new and innovative embedded analytics and digital capabilities to help our customer improve their combined ratio through AI-aided underwriting, loss control, operational efficiencies, distribution effectiveness and enriched customer experience.\u201d<\/p>\n\n\n\n

The Fall \u201922 Release<\/a> highlights Majesco\u2019s continued approach to helping insurers achieve operational effectiveness and innovation. With this release we are announcing availability of new, innovative capabilities for Majesco Cloud Platform supporting P&C Core Suite, L&AH Core Suite, Digital1st<\/sup>, Data and Analytics, Distribution Management, Loss Control & Absence Management offerings:<\/p>\n\n\n\n