Gibraltar BSN Life Berhad Transforms Distribution with Majesco Solutions

The Malaysian insurer will deploy Majesco Distribution Management and Digital Solutions to transform distribution management as part of its digital transformation program.

(Photo credit: Iolaire.)

Gibraltar BSN Life Berhad (Kuala Lumpur) a joint venture between Prudential Financial (Newark, N.J.) and Bank Simpanan Nasional (BSN, Kuala Lumpur), has selected Majesco’s (Morristown, N.J.) Majesco Distribution Management and Digital Solutions to transform its distribution management operation as part of a larger digital transformation program.

Gibraltar BSN is one of Malaysia’s fastest growing insurers, dedicated to providing relevant and affordable protection solutions to the larger segments of Malaysia’s approximately 32 million population, according to a vendor statement.

“As Malaysia’s economy and population maintains its growth trajectory, Gibraltar BSN will strive to ensure that Malaysians continue to enjoy the best access to affordable insights-driven protection solutions that cater to different life stages,” comments Rangam Bir, President and CEO, Gibraltar BSN. “We see great untapped opportunities in the Malaysian market and this significant investment reinforces our digital and distribution capabilities to unlock greater efficiency and enhance customer experience, but most importantly, support our ambitions of becoming the nation’s community protection champion.”

Gibraltar BSN plans to modernize its distribution management operation by implementing Majesco Distribution Management and Majesco Digital Solutions for a self-service portal and lead management solution, the vendor reports. The company’s objective is to enhance customer experience, maximize distribution operational effectiveness and efficiency and provide real-time access to distributors and customrs. The combination of the core distribution management system, self-service portal and lead management system will underpin transformation of Gibraltar BSN’s distribution management operation and provide digital capabilities to meet customer and distribution demands, according to Majesco.  The implementation will also enable Gibraltar BSN to configure standard and complex compensation mechanisms in accordance with the regulations of Malaysia’s Central Bank.

Ketan Mehta, CEO, MajescoMastek.

“We are honored to continue our longstanding relationship with Gibraltar BSN and delighted by the trust given to transform their distribution management operation,” comments Ketan Mehta, CEO, Majesco. “Insurance stalwarts like Gibraltar BSN are rapidly shifting to Digital Insurance 2.0 by transforming their business to meet the fast changing demands of the customers and distributors. Majesco Distribution Management and Majesco Digital Solutions are designed to help insurers traverse a path to Digital Insurance 2.0, for their company, customers and distributors.”

Deep Expertise in the Malaysian Market

“I am certain that Majesco’s deep expertise and extensive experience in the Malaysian market will be an asset to us at this critical juncture of our transformation journey as we continue to deepen our market penetration in a rapidly changing consumer landscape,” adds Gibraltar BSN’s Bir.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, 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 [email protected] or (503) 936-2803.

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