The reporting requirements in the insurance industry are often rigorous and traditionally highly regulated. Insurers seek to meet those strict industry requirements easily and accurately, including data management and other state/bureau reporting needs in the workers’ compensation and P&C sectors. Advancements such as Majesco’s Bureau Adoption capabilities, that was released in March 2021, support insurers’ need of reducing time to access and implement circulars as well as improving the user experience when interacting with the process to drive operational effectiveness. Cutting-Edge Self ..read more

Imagine that you own a trucking company doing business in the neighboring states of Oregon, Washington, and Idaho, hiring drivers from all three states, and staffing distribution centers in all three of them too. The employees you hire don’t necessarily do most of their work in the state of their residence. You frequently shift workers from one distribution center to another, depending on the season and the level of workload. Keeping track of your workers’ schedules and their taxes used to seem like your most difficult HR task, but then came dealing with employees on leave. Washington, for exa ..read more

This is the twelfth blog in a series on our Fall ’22 Release. Over the next few months, we will continue to spotlight how Majesco is helping insurers achieve relentless innovation and meet the ever-changing market needs with an outside in approach. In today’s fast-paced insurance industry, innovation and speed to market are critical for carriers seeking to stay competitive. Operational efficiency is key, as companies strive to balance managing operational costs, meeting customer expectations, and growing their business. For P&C insurers, Majesco’s Wizard Driven No-Code Configurator for P&a ..read more

Historically, underwriters have struggled to keep up with the vast and rapidly changing data landscape when evaluating property risks. This has often resulted in missed critical data points and less-than-optimal underwriting decisions. But with today’s advancements in Artificial Intelligence and Machine Learning technology, insurers can now harness a wide range of data sources and analyze them with objective insights and recommendations. The end result: improved risk management. Majesco’s Game-Changing Property Intelligence Solution In the Fall ’22 Release, Majesco is introducing Property Inte ..read more

Some history in life insurance for you.   A life insurance product that sold in 1982 had a “new” discounted premium for non-smokers. This was revolutionary — tying a personal behavior to underwriting a life policy premium. Oh, how we have advanced since then!  What’s possible now goes so far beyond that, yet the idea is still the same. Insurers can still underwrite – and yes incentivize – healthy personal practices but can now take advantage of a new customer mindset and a dramatically-advanced data culture. The question now becomes, how can life and voluntary benefits insurers ..read more

This is the tenth blog in a series on our Fall ’22 Release. Over the next few months, we will continue to spotlight how Majesco is helping insurers achieve relentless innovation and meet the ever-changing market needs with an outside in approach. The insurance industry is quickly entering a new era of claims management.  The value an insurer can provide to its customers through the claims process needs to go beyond traditional after-the-fact claims management. Offering excellent omnichannel customer experience supported by intuitive digital processes is the goal insurers should set o ..read more

The pandemic wreaked havoc on wedding plans, disrupting somewhere between 63-80% of all weddings in 2020 and pushing out wedding plans for many couples as far as 2023 and 2024. It also hurt popular wedding companies, such as David’s Bridal, which entered bankruptcy in 2019 and is now emerging to become a much stronger company. Its optimism is certainly fueled by the fact that “weddings are back,” but it is also stimulated by a major improvement in its online presence. David’s Bridal now has an app, Pearl, which, combined with its online version, touches 90% of all brides in the U.S. Pearl has ..read more

This is the ninth blog in a series on our Fall ’22 Release. Over the next few months, we will continue to spotlight how Majesco is helping insurers achieve relentless innovation and meet the ever-changing market needs with an outside in approach. Reinsurance is an essential tool carriers use to manage their pool of risk and the amount of capital they must hold to support those risks. With the cost of reinsurance skyrocketing due to an increase in the frequency and severity of natural catastrophe claims, effective management of reinsurance operations is playing a more critical role in carriers ..read more

You’ve just visited the grocery store and it’s likely that you made a choice at the checkout. Did you scan and bag your items, or did you let a cashier scan and bag them for you? This may depend upon just how many groceries you purchased or how you feel about your store’s tech level.   Even now, though, it’s clear that there is a next step or two to be made in grocery store technology. Where is the line where you simply feed your groceries onto a conveyor and they are automatically scanned and bagged? Where are the technologies that run and pick everything off of the shelves for you and d ..read more

This is the seventh blog in a series on our Fall ’22 Release. Over the next few months, we will continue to spotlight how Majesco is helping insurers achieve relentless innovation and meet the ever-changing market needs with an outside in approach. With agents and brokers being the dominant channel for all lines of business, a digital transformation strategy that includes having a fast, simple, and streamlined onboarding experience is imperative to drive efficiency and growth in carriers’ business operations.  To do this, carriers need a distribution management platform that allows them t ..read more