Whitepaper provides a formula for insurance-specific IT and business testing transforming an insurer’s quality assurance process in ways that are designed to deliver innovation, agility and speed to market
Morristown, NJ (July 25, 2016) – Majesco, a global provider of core insurance software, consulting and services for insurance business transformation, today published a whitepaper, Putting Insurance Testing to the Test. The latest thought leadership whitepaper outlines an industry-specific formula for transforming an insurer’s quality assurance process in ways that are designed to deliver innovation, agility and speed to market with case studies highlighting the value.
IT system and software testing practices are undergoing transformation, as demands grow for testing efficiencies and effectiveness and the breadth of solutions and technology expand. Insurers are able to leverage their trusted partner’s testing services as a way to bolster their quality assurance process and maintain a competitive edge. This white paper aims to help guide insurers on their testing journey as they evaluate strategies, expand their testing to new mobile, digital and other technologies to create successful outcomes.
“Based on the notion that agility and speed (both speed-to-market and speed of response) are capabil�ities inherent in today’s insurance competitive landscape, insurers need to have core systems that can manage continuous upgrades so they can innovate around other things,” says Matthew Josefowicz, president & CEO of research and consulting firm Novarica. “This means the insurer needs an overall approach to systems quality that will help them build and retain a solid foundation that will provide for that.”
“The imperative to innovate and transform business to new models continues to pressure the Insurance industry.” noted Denise Garth, Senior Vice President of Strategic Marketing, Industry Relations and Innovation at Majesco. “The trend we are seeing in the industry requires a transformation of the IT system and software testing practices, one that provides a more robust, stable, flexible and secure testing environment that is designed around the insurer’s requirements. Insurers are finding that marrying that environment with a holistic approach to IT testing services program management is a match worth pursuing.”
The thought leadership paper, Putting Insurance Testing to the Test, is available on the Majesco website to download.
Majesco’s Insurance Test Automation Framework (iTAF) offers several advantages to the improvement of long-term efficiency of a software team’s testing processes, chief among them the repeatability of tests and the speed at which tests can be executed, which ultimately is expected to result in the benefits of control and maintenance by a manual/business resources along the way.
Insurance business transformation is a journey of change and revitalization, a renaissance of insurance. Approximately 150 insurance companies worldwide in P&C, L&A and Group/ Employee Benefits are transforming their businesses with Majesco’s solutions. Our market leading software, consulting and services uniquely underpin the entire insurance value chain and are designed to empower insurers with the agility, innovation and speed needed to meet their transformation opportunities. Majesco’s solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI/ analytics, predictive modelling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more.
For more details on Majesco, please visit www.majesco.com.
Cautionary Language Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Majesco’s reports that it files from time to time with the Securities and Exchange Commission and which you should review, including those statements under “Item 1A – Risk Factors” in Majesco’s Annual Report on Form 10-K.
Important factors that could cause actual results to differ materially from those described in forward-looking statements contained in this press release include, but are not limited to: integration risks; changes in economic conditions, political conditions, trade protection measures, licensing requirements and tax matters; technology development risks; intellectual property rights risks; competition risks; additional scrutiny and increased expenses as a result of being a public company; the financial condition, financing requirements, prospects and cash flow of Majesco; loss of strategic relationships; changes in laws or regulations affecting the insurance industry in particular; restrictions on immigration; the ability and cost of retaining and recruiting key personnel; the ability to attract new clients and retain them and the risk of loss of large customers; continued compliance with evolving laws; customer data and cybersecurity risk; and Majesco’s ability to raise capital to fund future growth.
These forward-looking statements should not be relied upon as predictions of future events and Majesco cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by Majesco or any other person that we will achieve our objectives and plans in any specified timeframe, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Majesco disclaims any obligation to publicly update or release any revisions to these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.