Relationship to bring insurance innovation and business transformation to the Life & Annuity and Group insurance market
Morristown, NJ (May 6, 2019) – Capgemini today announced it has signed an alliance partner agreement with Majesco, a global leader of core insurance software for insurance business transformation. In the agreement, Capgemini will bring its extensive insurance innovation, customer service and digital capabilities to implementations of the Majesco Life & Annuity (L&A) and Group Core Suite for insurance carriers in the life, annuity, group, worksite, and voluntary benefits market, helping them to achieve speed to value.
“Disruption is creating unprecedented growth and innovation opportunities in the insurance industry,” said Seth Rachlin, Chief Innovation Officer for Insurance, at Capgemini. “Customer expectations are moving insurers rapidly to a new generation of digitally superior insurance which requires continuous innovation to acquire and retain customers, introduce products faster, improve efficiency, and reduce costs.”
Capgemini already has implementations underway of the Majesco L&A and Group Core Suite, which includes policy, billing, and claims modules. Capgemini is teaming with Majesco to provide business and systems transformation capabilities along with implementation, integration, conversion, and testing services to group and individual insurers. Additionally, Capgemini will bring its insurance expertise, ecosystem, and InsurTech partnerships to an upcoming L&A and group platform offering with Majesco L&A and Group Core Suite at its heart. The platform will allow insurers to become “Open Insurers” that leverage API and services architectures to rapidly build a digital ecosystem to overcome legacy system setbacks.
“The L&A and Group insurance market is undergoing rapid innovation and transformation that demands modern core solutions underpinned by strategic partnerships that enable implementation in months versus years,” stated Adam Elster, CEO of Majesco. “Our relationship with Capgemini will bring business and technology transformation and systems integration expertise to our customers to achieve speed to value. As we accelerate our growth plans, we want to ensure that our customers have access to the best products, expertise, knowledge and leadership critical for their business innovation and transformation plans, regardless of insurer line of business, size or market. This announcement reinforces our commitment to strategic alliance partnerships that deliver exceptional value to our customers.”
Majesco (NASDAQ: MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal. Over 190 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer™ P&C Core Suite (Policy, Billing, Claims); CloudInsurer™ L&A and Group Core Suite (Policy, Billing, Claims); Digital1st Insurance™ with Digital1st eConnect™, Digital1st EcoExchange™ and Digital1st Platform™ – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more information, please visit www.majesco.com.
A global leader in consulting, technology services and digital transformation, Capgemini is at the forefront of innovation to address the entire breadth of clients’ opportunities in the evolving world of cloud, digital and platforms. Building on its strong 50-year heritage and deep industry-specific expertise, Capgemini enables organizations to realize their business ambitions through an array of services from strategy to operations. Capgemini is driven by the conviction that the business value of technology comes from and through people. It is a multicultural company of over 200,000 team members in more than 40 countries. The Group reported 2018 global revenues of EUR 13.2 billion. Visit us at www.capgemini.com. People matter, results count.
SOURCE: WE Communications for Capgemini