Insurance

Transforming Insurer Business Capabilities Through Multiple Platforms

Transforming Insurer Business Capabilities Through Multiple Platforms
Written by Usdng

The Fall season brings on crisp weather, bright colored leaves, chili cookoffs, and FOOTBALL! American football is one of the most recognized and loved sports in the world, not to mention loads of fun to watch. Behind the scenes though, there is a lot of strategy and management execution occurring with the coaching staff and team to prepare for games, reduce risks and ensure highest potential for wins. These factors go into the planning and the playbook to create the team’s foundation for the season. Coaches must stay a step ahead of the competition, so they can advance down the field and score.  During the season, coaches make changes (enhancements) to the playbook to stay relevant, ensure wins and gain advancement to bowl season and the playoffs.  

Sports influence today’s world in many ways.  One influence is how success in football is about long-term strategy and management.  Insurance is much the same, it’s impactful, but needs to adapt to ensure success for the long-term. For example, insurers should think of their core business solutions as the foundation and playbook to ensure success.  But they require new seasonal enhancements to strengthen their ability to win and enable continuous innovation.

Is your playbook ready for the next season of insurance?

Insurance is constantly evolving, and change is picking up steam.  Technology and customers are two big driving forces of change. To be competitive, insurers need to be looking ahead on how they can innovate and grow profitably.  The demand for next-gen technology solutions that empower speed, agility, and innovation are essential to growing the business. Secondly, customer experiences are crucial to attracting and retaining customers and ever-evolving digital capabilities are a must.  

With insurance constantly being reshaped, it makes the future harder to prepare for. Given this context, many leaders are asking themselves how this impacts their business and how to prepare.  Insurance leaders need clarity, focus on their priorities, and build for what’s next.  The time for plans, preparation, and execution is now. Those who focus on next-gen insurance solutions will leap forward from the competition.

Majesco’s Fall ‘22 Release

Strengthening your core business capabilities to handle the changing demands of customers and the evolution of technology must be a continuous process.  The Fall ’22 Product Release highlights Majesco’s continued commitment to helping our customers and the industry achieve operational effectiveness and innovation.

With this release we are announcing limited availability of new, innovative capabilities for Majesco Cloud Platform supporting P&C Core Suite, L&AH Core Suite, Digital1st, Data and Analytics, and Distribution Management solutions including:

  • Health Check – Access a health score to ensure configurations, modifications, and version used is optimal for ongoing maintainability.
  • Cloud Control – Keep current with key metrics including current and historical availability stats, business adoption metrics, and ServiceNow ticket status.
  • API Management – Access centralized API Management Portal – built on Azure API management – to access, subscribe, and manage enterprise APIs.

In addition, we are strengthening our solutions with new and enhanced capabilities to optimize the business and drive innovation including:

  • P&C Core Suite – No-Code Billing configuration wizards, embedded property analytics, agent portal, integrated loss control, reinsurance integration, new APIs, advancing intelligent and digital capabilities.
  • L&AH Core Suite – Streamlined low-code digital experience and expanded multi-company capabilities supporting large insurers, TPAs and BPOs for L&AH Core Suite as well as intelligent, quick, and accurate claim intake for L&AH Claims.
  • Majesco ClaimVantage Claims for L&H – Expanded ability to create standalone disability claims using APIs with the ability to use custom fields.
  • Majesco Absence Management – Expanded support for Connecticut Human Rights and Opportunities Act. 
  • Majesco ClaimVantage Connect360 for L&AH – New time-off support Adoption/Foster Care for Court Dates, Bone Marrow, & Organ Donation. 
  • Majesco Digital1st® – Personalized digital experiences for agents, employees & employers with new Digital 360 Solutions including Majesco Digital Agent360 for P&C and Majesco Digital Enroll360 for L&AH.
  • Majesco Distribution Management – Enhanced onboarding capabilities to streamline and simplify the onboarding process helping carriers build efficiencies in their business operations
  • Majesco Loss Control – Equipment breakdown incorporated into the platform at all levels, allowing you to review equipment inventories and conduct a single survey with all necessary equipment while on site.
  • Majesco Analytics – Improved underwriting profitability and lowered loss ratio with enhanced property risk insights through Property Intelligence built on extensive proprietary and public data sets and launch of a new subrogation model.

Ready to rethink and strengthen your core?  Want a platform to transform your business and innovate?  Are you ready to create new products and services demanded by the market and your customers cost-effectively and with speed?

Then look no further than to Majesco’s portfolio of solutions – Majesco P&C Core Suite, L&AH Core Suite, ClaimVantage Claims Management, Absence and Accommodation Management, Digital 360 Solutions, Digital1st, Distribution Management, and Loss Control all on Majesco Cloud Platform.