IIR talks with Majesco CEO Adam Elster and Thoma Bravo partner A.J. Rohde about how private ownership has opened a path for the insurance core system/platform software company to rapidly evolve.
Insurance functions as a service, be that core, data, distribution or digital must be well-integrated and architected for the cloud environment or else it may not provide business differentiation.
The new version includes 100 new features and 700 new capabilities to accelerate insurers’ digital transformation efforts.
The vendor characterizes the move as the latest step in its continuing initiative to consolidate the Mastek group’s global global insurance businesses under the single and independent entity “Majesco.”
The Cover-All/Majesco Merger creates a new, U.S.-focused company with expanded product offerings, including strengthened BI and analytics capabilities.
Majesco describes Digital1st Insurance is a cloud-native, microservices-based digital experience platform with a low code/no code configurability and a robust API and partner ecosystem apps.
The latest versions aim to provide new capabilities for insurers to further improve speed to value, customer experience, ecosystem connectivity and cloud delivery.
Majesco leadership says the transaction, valuing the company at $594 million, will support the company’s strategic vision to help global insurers transition to the cloud.
The vendor pitches the new portal as exceeding the capabilities of previous industry offerings by delivering a genuinely next-generation, holistic digital experience.
The insurer adopted the CloudInsurer platform for the ability to innovate products, capture new market opportunities and gain needed agility to meet the needs of its customers.