Majesco Introduces Groundbreaking Innovations in Insurance Tech

Majesco Launches Fall '24 Release: A Game Changer for Insurance

Majesco, a global leader in cloud insurance software solutions, has announced its Fall '24 Release, offering groundbreaking enhancements across its intelligent core platforms. This release exemplifies Majesco’s strong commitment to innovation in the insurance industry, showcasing advanced capabilities powered by the new Majesco Copilot and GenAI integrations, which are set to revolutionize operational processes.

Revolutionary AI-Powered Solutions

The Fall '24 Release introduces intelligent features driven by Majesco Copilot, the first comprehensive GenAI solution tailored for core operations in insurance. With these cutting-edge advancements, businesses can expect enhanced automation of their processes, leading to improved productivity and operational efficiency. As organizations embrace this technology, they can dramatically reduce costs and raise performance standards.

Empowering Insurance Operations

Majesco is leading the charge in reshaping insurance operations through the innovative capabilities of Majesco Copilot. The new functionalities transform routine tasks, such as claims bill and invoice processing, through intelligent document ingestion and automation. By saving up to 2.5 hours per claim, these improvements not only boost productivity but also significantly lower operational costs, allowing insurers to focus on high-value activities.

According to Manish Shah, President and Chief Product Officer at Majesco, "With this release, Majesco continues to set the standard for AI-powered innovations in the insurance industry. Our customers can harness the power of GenAI to drive efficiency and enhance customer experiences." Karlyn Carnahan, Head of Insurance at Celent, also noted that "Majesco’s investment in AI and Copilot marks a pivotal shift in the insurance landscape, demonstrating a robust understanding of industry needs."

Comprehensive Enhancements Across All Offerings

The enhancements in the Fall '24 Release touch every aspect of Majesco’s product suite, which includes P&C Intelligent Core, CoreConnect, and ClaimVantage Enterprise Claims among others. These solutions are designed to elevate user experiences, decrease operational costs, and help insurers stay ahead in a fiercely competitive market.

Highlights of the New Features

Among the standout features in the P&C Intelligent Core Suite:

• Copilot Automation: Revolutionizes bill and invoice processing, saving substantial time per claim.
• Fast Upgrades: Enables quicker product upgrades while ensuring configuration integrity.
• Enhanced Performance: Up to 30% faster APIs for core transactions, enhancing overall efficiency.
• 360-Degree Portals: Provides a seamless experience for agents, clients, and underwriters.

The Loss Control enhancements empower risk engineers with mobile capabilities, accelerating survey accuracy and task completion. Similarly, the P&C CoreConnect suite introduces simultaneous quoting tools, focusing on sustainability through paperless transactions.

Future-Proofing the Insurance Landscape

Majesco’s commitment to maintaining its leadership position in the insurance domain is evident in its comprehensive digital-first strategy. The Fall '24 release exemplifies the company’s objective to provide solutions that enhance productivity and reshape traditional processes.

Conclusion: Embracing Change for Better Results

As more than 350 insurers rely on Majesco for their digital transformations, the Fall '24 release stands as a testament to the powerful synergy between technology and insurance. By adopting a forward-thinking approach that prioritizes AI-powered innovations, Majesco enables its clients to confidently navigate the evolving insurance landscape.

About Majesco

Majesco partners with P&C and L&H insurers to deliver outstanding client experiences. We leverage our extensive technology and insurance expertise to drive future innovations, while also providing intelligent SaaS platforms solutions to a wide array of insurers. Our approach encourages digital transformation without sacrificing core competencies.

For additional insights about Majesco and its innovative solutions, visit www.majesco.com. Stay connected with us on LinkedIn for the latest updates.

Frequently Asked Questions

What is Majesco's Fall '24 Release?

The Fall '24 Release is Majesco's latest platform upgrade featuring advancements in AI, automation, and enhanced user capabilities across its product offerings.

How does Majesco Copilot improve insurance operations?

Majesco Copilot streamlines processes through intelligent automation, significantly reducing time spent on tasks and enhancing overall productivity.

What new features are included in the P&C Intelligent Core Suite?

The suite includes features like enhanced automation, faster upgrades, improved API performance, and a comprehensive 360-degree portal for users.

Why is AI important for the insurance industry?

AI enhances operational efficiency, helps manage complex data, and improves customer engagement by providing insights and automating routine tasks.

How does Majesco support its clients in the digital transformation journey?

Majesco offers a range of solutions tailored to clients' needs, focusing on innovation and user experience to ensure they thrive in an increasingly digital landscape.

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