Founded in 1982, Majesco is a global provider of core insurance software and consulting services. In 2017, it launched its first digital engagement and micro-services based solution called Digital1st. This new platform will complement the Majesco core software suite and integrate with other software to accelerate the value of its core offering.
The Digital1st platform includes the following features:
Engagement and Journey Designer – Digital tools to design customer journey, particularly with regard to optimizing for mobile, with embedded customised insurance specific content.
Digital1st Connect – Tools to allow insurers and intermediaries to increase engagement. Digital engagement beyond portal and mobile that will deliver personalised customer experience.
Digital1st EcoExchange – Partner ecosystem hub using third party services with a standard semantic layer for easy integration and a true ‘plug and play’ environment for traditional and InsurTech partners.
Digital1st Platform – Micro-services platform bundled with detailed insurance content across all business segments will enable a new generation of business models and products that require on-demand capabilities, high volume of transactions and extensive use of new real-time data sources that traditional core systems cannot effectively support.
Manish Shah, EVP of Products at Majesco, summarized this new offering from Majesco: “This new portfolio of digital solutions will offer cloud-based, real-time, insurance specific capabilities that enhance the customer experience and micro-services based platform that together will help insurers adapt and innovate in a rapidly changing competitive landscape.”
Ultimately, the dawn of the digital insurance age has left many insurers wondering where to begin with regard to digital endeavors. Whilst blockchain, AI and speech autonomus driving represent the biggest disruptions, insurers can leverage solutions such as this from Majesco to alleviate some of the pressure traditional insurers are facing to upgrade their consumer facing offerings.
