Overview
Majesco is the partner P&C and L&AH insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what is next, without losing sight of what’s important now. Over 350 insurers, from MGAs, greenfields and startups to some of the world’s largest insurers and reinsurers, rely on Majesco’s intelligent SaaS platforms solutions, with GenAI powered insurance data analytics, of core, data, analytics, distribution, underwriting, loss control, digital, and rich ecosystem of partners to create their next now.
As an industry leader, we don’t believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 1000+ successful implementations and 90% of our customers in the cloud we are uniquely qualified to bridge the gap between a traditional insurance industry approach and a pure digital mindset. We give customers the confidence to decide, the products to perform, and the follow-through to execute.
For more information, please visit www.majesco.com and follow us on LinkedIn.
Key Features
- Policy Development and Maintenance: CoreConnect Policy is a robust production hardened PAS supporting the full policy lifecycle. It is customer-centric giving users a complete view of all of a customer's in-force and past policy history, including multi-line and package products. It supports multi-channel distribution models (Direct, Agent/Broker, MGA, etc.) for all policy transactions with configurable UW referral rules and workflows. Document generation is real-time, giving users instant access to policy documents upon transaction. The PAS has a robust API library allowing it to be a headless platform for external portals and workbenches.
Illustration and Quotation: Quotation is a leading feature of CoreConnect. CoreConnect comes out-of-the-box with several user Quote portals or APIs connecting directly to Majesco's Enterprise Rating platform. LOBs are rapidly built and deployed for rapid speed to market of new product quoting.
New business Underwriting: New business UW support comes through easily configurable business and referral rules and workflows. Also included is an event bus to which any system action, event, status or trigger may be published. This allows external systems, like UW workbenches, to subscribe to events to create their own workflows and user experiences.
Claims Processing and Administration:CoreConnect Claims is a solid but basic claims processing solution. It contains expected functionality, but lacksclaims specific integrations and vendor management capability. Claims have been under-invested in but this is expected to change in 2025.
Analytics and Reporting:CoreConnect has a fully embedded reporting and analytics capability across all platform applications (Quote, Policy, Claims, Billing, Rating). It has both real-time dashboards and a nightly run data warehouse for historical and time-series analysis. A large library of dashboards and reports are out-of-the-box along with user self-service for data discovery, report building and ad-hoc analysis.
Workflow and Case Management:CoreConnect has configurable workflow supporting a variety of use cases. Additionally, it has an even bus architecture allowing any system event to be captured and used to build custom workflows for either CoreConnect or externally integrated platforms.
Multi-Channel Portals:CoreConnect has pre-integrated persona portals for Anonymous Shoppers, Insureds, Agents/Brokers, MGAs and Carriers.
Key Benefits
- Rapid Implementation: P&C CoreConnect is built to rapidly deliver across a wide array of personal, commercial and specialty products in weeks.
Leading Innovation: Partnership with Microsoft has allowed Majesco to deliver new capabilities into the market like Majesco Copilot and Embedded/Advanced Analytics. New capabilities roll out in biannual releases.
Modern APIs: Rich API library to support new distribution channels
Modular solutions: Allows customers to implement Policy and expand to Billing/Claims or other ancillary products in the future
Scalability: CoreConnect supports clients with $4B+ in DWP and over 80,000 agent-users. The core application platform is highly performant as a singular deployment, and is cloud hosted supporting containerization for elastic scaling configurations. Performance testing is conducted with every release (twice per year). Majesco has worked with its clients who have unique scalability requirements and without fail has met or exceeded them.
Customization & Configurability: LOBs are 100% configurable. The platform has hundreds of configuration options available during implementation. Additionally, platform behavior visibility and interactivity are configured by a highly granular user group model.
Pre-Integrated Rating Technology: CoreConnect is powered by Majesco Enterprise Rating, a market-leading rating engine.
Cloud-Native: The architecture leverages a variety of highly performant Microsoft Azure services, robust API library, and no-code, low-code tooling within the technology stack to empower business users.
Speed-to-Market: Ready-to-use product templates across a vast array of LOBs, comprehensive set of features within each suite module, ability to perform real-time changes to the system to adapt to shifts in market conditions, and swift response times.
Designed For MGAs/MGUs: A platform that propels profitable growth and seamlessly manages multiple insurers, reinsurers, and distribution partners on a unified platform to simplify complexity.
