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Majesco (New York), a global provider of insurance software, services and consulting, has made its complete portfolio of property/casualty insurance software products available to customers via the IBM Cloud as part of a five-year global partnership between the two companies. Majesco Billing, which supports both P&C and life and annuity lines of business, is included in the launch, offering what the vendor bills as a unique customer-centric cloud based billing option for the industry.
Majesco emphasizes the offering of its P&C solutions on IBM Cloud’s SoftLayer infrastructure as a suitable option for insurers’ modernization efforts, providing a “secure, scalable, validated and proven environment” for business transformation.
“Core system replacement has become table stakes for carriers, and analytics is the new frontier that is creating tremendous competitive advantages for those who can do it well,” comments Karlyn Carnahan, a research director with Celent’s (Boston) insurance practice. “This new partnership between Majesco and IBM will bring speed to value for carriers who will now have access to affordable, innovative cognitive solutions.”
“We are pleased to extend our working relationship with IBM that has been evolving over a number of years,” comments Ed Ossie, COO, Majesco. “Working with IBM will help insurers transform their business with a modern core solution that can be deployed on a proven and tested environment. We’ve already seen our customers benefit with positive operational and strategic results from the private cloud approach.”
Building on Existing Foundation
Majesco’s reports that its new offering builds on an existing foundation and experience in providing private cloud/hosting services for over 20 customers. The vendor says that the new capability with a public/hybrid cloud turnkey solution offers customers an even broader value proposition with the flexibility to scale based on their operational and strategic needs.
“The combination of Majesco’s software solutions and IBM Cloud’s SoftLayer platform provide our clients with a flexible, scalable, and secure global infrastructure allowing them to tap into data centers in specific countries and regions,” comments Patricia Hamilton, VP of insurance strategy and transformation, IBM. “Insurers can fine-tune their cloud solution and rapidly deploy new servers and services to reach end users even faster.”
The advantages of cloud computing have made it an increasingly attractive option to carriers, according to Celent’s Carnahan. “Cloud computing promises tremendous flexibility, tempting economic advantages, and unending operational efficiencies,” she adds. “To that end, leading service providers continue to invest in offering reliable, well managed cloud services to meet their customer needs.”