Majesco (NASDAQ: MJCO), a global provider of cloud insurance software solutions for insurance business transformation, is delighted to announce that it has signed an agreement with Foresters Friendly Society to deliver full, end-to-end policy lifecycle support for their digital strategy. The Society will implement Majesco's SaaS solutions, including Life AdminPlus, Life DistributionPlus, and Life IllustratePlus, to meet their strategic business objectives.
Foresters Friendly Society chose Majesco for its end-to-end capabilities that will equip the Society with future proofed technology that enhance its digital capability to meet the emerging challenges it faces in a dynamic marketplace. Majesco will deliver a digitally compliant journey for all Foresters Friendly Society members.
Grant Streader, Head of Insurance Operations at Foresters Friendly Society, commented: "To ensure we are fully equipped to deliver our vision of being the most member-centric mutual, we recognise the need to invest in our existing IT applications with a cloud hosted environment for our business operations. We needed a digital solution that will lower the cost of new business acquisition whilst improving efficiencies and increase our speed to market with new products. Throughout the selection process Majesco proved its capabilities in these areas. We look forward to working with Majesco to deliver the agreed solution to assist in achieving our strategic business goals."
Philip Naughton, Executive Director Business Development at Majesco, commented: "Following Exaxe's acquisition by Majesco, we are delighted to have been able to offer even further capability to Foresters Friendly Society. We are looking forward to a successful implementation supporting Foresters Friendly Society's business growth by delivering a digital by default solution."
Majesco LifePlus Solutions are tomorrow's solution for individual life, pensions and wealth management. Majesco's component-based SaaS solutions provide full policy lifecycle support from customer fact-find right through to payment of a claim. Majesco LifePlus Solutions allow clients to avoid large upfront licence fees, to pay per usage and work anywhere, anytime.
Shares of Majesco Ltd was last trading in BSE at Rs.486 as compared to the previous close of Rs. 483.45. The total number of shares traded during the day was 3672 in over 90 trades.
The stock hit an intraday high of Rs. 490.5 and intraday low of 481.55. The net turnover during the day was Rs. 1787001.