Majesco Recognized in Salesforce Partner Innovation Awards
Press Release
Morristown, NJ, - October 12th, 2021 – Majesco announced that it has helped customer FullscopeRMS transform its business by implementing the first absence management product to the reinsurance industry, Majesco ClaimVantage Absence Management. For this innovative work, Majesco has been named a recipient of the 2021 Salesforce Partner Innovation Award in Financial Services.
FullscopeRMS chose the Majesco absence management solution, built on the Salesforce Platform, to introduce the first absence management software solution to the reinsurance industry. With unique, complex needs as a reinsurer, the hierarchies within Majesco ClaimVantage Absence Management built on the Salesforce platform supported the organization's complex business needs. Furthermore, additional capabilities within the absence management solution leveraged the Salesforce platform including workflows, task-triggered reminders and customized letter, email, and SMS communications to support specific policyholder needs tailored for each client. The absence management solution and implementation accelerated new customer onboarding compared to other market solutions.
The Majesco solution enhanced FullscopeRMS’ digital capabilities, integrating its internal disability claims platform with cutting-edge digital absence management software from Majesco without compromising security or customer service. In the six months since the implementation FullscopeRMS added 30,000 covered lines to their business book due to their expansion into absence management, which has been a differentiator and deciding factor in the sales opportunities. The Absence offering increased 2021 YTD sales by 14%, resulting in a powerful market impact and an increase in top-line plans for 2021. In addition, the accelerated implementation processes allow new clients to onboard quickly, in as little as 90 days. FullscopeRMS has received excellent market feedback from their existing customer base, other insurance carriers, brokers and employers across the market regarding implementation and user experience.
Comments on the News
“We’re thrilled to be recognized, along with our partner Majesco, as a recipient of the 2021 Salesforce Innovation Award for Financial Services,” says Kathy Serunian, Assistant Vice President, Claims at Disability RMS, a subdivision of FullscopeRMS. “By partnering with Majesco ClaimVantage Absence Management, built on the Salesforce Platform, we’ve been able to deliver an integrated disability and absence management experience for our clients as well as support their premium growth objectives.”
“Salesforce Partner Innovation Award winners such as Majesco work relentlessly to enable their customers’ success,” said Tyler Prince, Executive Vice President, Alliances & Channels, Salesforce. “Majesco’s initiative and ability to deliver results illustrates how Salesforce partners are integral to creating value and enabling digital transformation in our new work-from-anywhere world.”
“This recognition for our customer and our absence management solution, highlight our focus on meeting the needs of a rapidly changing insurance industry with agility, innovation and speed,” commented Adam Elster, CEO of Majesco. “Absence management is increasingly a key benefit provided by insurers to meet the growing demands of a changing workforce. Majesco ClaimVantage Absence Management is recognized as the leading solution in the insurance industry, reflected by this recognition. We are thrilled for FullscopeRMS.”
Salesforce partners such as Majesco and FullscopeRMS are part of the growing Salesforce economy, which according to a new study by IDC*, is projected to produce more than 9 million new jobs and $1.6 trillion in new business revenue by 2026. The study finds that Salesforce is driving massive gains for its partner ecosystem, which will see $6.19 in gains for every $1 Salesforce makes by 2026.
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*IDC White Paper, sponsored by Salesforce, “The Salesforce Economic Impact,” doc #US48214821, September 20, 2021
About Majesco
Majesco is the leading software partner to both the P&C and L&A insurance markets to modernize, optimize and innovate their businesses at speed and scale. Over 330 insurers, from greenfields, start-ups and MGAs to the largest insurers, reinsurers and brokers use Majesco’s next generation SaaS platform solutions of core, data, and analytics, digital, distribution, absence management and a rich ecosystem marketplace of established and InsurTech partners to build the future of insurance.
Our technology, expertise and leadership help insurers innovate and connect to build the future of their business. With over 825 successful implementations and over 65% of our customers on Cloud with Majesco platform solutions, together we have an amazing track record of innovation and real-world results. For more details on Majesco, please visit www.majesco.com.
About FullscopeRMS
FullscopeRMS, a subsidiary of Sun Life, is the nation’s leading provider of turnkey group life and disability risk management products and services, focusing on group ancillary products. With over $350 million in premium and over 40,000 claims under management, FullscopeRMS specializes in loss prevention strategies. The company identified a unique strategic opportunity to introduce an integrated Disability and Absence Management solution to the reinsurance market.