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Capgemini (Paris/New York) today announced it has signed an alliance partner agreement with Majesco (Morristown, N.J.), a global provider of core insurance software for insurance business transformation. Capgemini will bring to the partnership what it describes as 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,” comments Seth Rachlin, Chief Innovation Officer for Insurance, 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.”
L&A and Group Platform Offering
Capgemini reports that it already has implementations underway of the Majesco L&A and Group Core Suite, which includes policy, billing, and claims modules. Capgemini says it 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.”