Reliance Nippon Life Boosts Service, Efficiency with Majesco Distribution Management

The insurer anticipates reduced product time-to-market, better agent management, and reduction of errors.

(Detail of Taj Mahal Palace Hotel, Mumbai. Photo credit: Joe Ravi.)

Reliance Nippon Life Insurance, a Mumbai-based life insurance carrier has selected Majesco (Morristown, N.J.) Distribution Management to optimize its agent channel. The solution will enable Reliance Nippon Life to administer and manage agents more effectively while delivering enhanced service that make it easier for agents to do business with Reliance Nippon Life, according to a vendor statement.)

Srinivasan Iyengar, COO, Reliance Nippon Life Insurance Company.

The insurer anticipates that the solution’s capabilities, along with customized development, will enable reduced product time-to-market, improvement of overall agent management, and reduction of errors. The platform will also provide agents new business capabilities and user independence to more effectively perform their work, according to a Majesco statement.

Robust, Modern Platform, On-Time Delivery

“We appreciate Majesco’s commitment and industry reputation for on-time delivery of their cutting-edge solutions,” Srinivasan Iyengar, COO, Reliance Nippon Life Insurance Company. “Majesco Distribution Management provides a robust, modern platform to not only meet our current needs but is also geared to support fast evolving business requirements. An efficient distribution operation is at the core of RNLIC’s growth plans and we look forward to this partnership in effectively scaling up our distribution operation.”

Farid Kazani, CFO, Majesco.

“We welcome Reliance Nippon Life Company to our growing community of global clients for Majesco Distribution Management and thank them for their confidence in our team and solution,” comments Farid Kazani, Managing Director, Majesco Limited and CFO at Majesco. “Distribution management is a critical business capability needed to support growth strategies such as Reliance’s and we are thrilled to be partnering with a forward thinking, innovative insurer in a changing distribution landscape. We look forward to a successful implementation and helping Reliance Life achieve their growth and business strategies.” said,

The vendor describes Majesco Distribution Management as a standalone, modern solution designed to enable insurance carriers to manage the entire distribution landscape with comprehensive business capabilities that enable diverse channel options, supports the increasing need of an omni-channel environment, effectively administer channel producers from registration to termination, compensation and performance management, and launch innovative contests and personalize payment schedules for producers to help drive business growth. “The highly configurable platform enables ease of integration within the insurance carrier’s business system landscape,” the vendor description says.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For over a decade he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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