Strategic Collaboration Between KPMG and Majesco to Accelerate Insurance Digital Transformation

Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, and KPMG LLP, the audit, tax and advisory firm, are working together to accelerate insurance digital transformation using Majesco Digital1st® Insurance platform. Digital1st® is the insurance industry's leading cloud-native, microservices-based digital experience platform with a low code / no code configurability and a robust API and partner ecosystem apps. Combined with Majesco's industry leading CloudInsurer®, core insurance platform, provides insurers with an unparalled end-to-end capability enabling insurers to become more connected with their clients, agents and brokers.

"Digital transformation is a top strategic priority for insurers, particularly in today's new reality with everyone seeking digital options," said Mike Adler, Principal, Insurance - Management Consulting, at KPMG. "Customer and agent experiences and increasingly digital expectations require insurers to rapidly innovate and adapt to acquire and retain customers, drive operational effectiveness, enable productivity of distribution channels and meet the needs of a new generation of customer. Our partnership with Majesco will help insurers meet these needs rapidly to compete in a digital world and move towards a Connected Enterprise."

Majesco Digital1st® Insurance provides a powerful digital experience, no code/ low code and outside-in platform with a robust ecosystem of partner apps that can be leveraged through a wide variety of use cases, ranging from high-fidelity portals tightly integrated with Majesco or other core systems, to high impact omni-channel and omni-device capabilities, enriching the customer and agent experience through heterogenous capabilities available through APIs.

"The entire insurance industry is rapidly pivoting to a digital operating model that requires speed-to-value and customer-focused products and services that continually adapt to changing market dynamics and customer behaviors," said Ed Ossie, COO at Majesco. "Insurers must make bold moves to optimize today's business and create the future business to substantially increase their potential for success. Majesco and KPMG are committed to helping leaders blaze new digital trails that can power growth and innovation as they capture the future of insurance."

Majesco research notes that a top motivator for digital transformation is driven by customer and distribution channel expectations of a much-improved experience and ranks as a top strategic initiative. They are looking to new platforms with rich and robust capabilities that will enable speed of innovation to reimagine their future as digital insurer.

Shares of Majesco Ltd was last trading in BSE at Rs.749.1 as compared to the previous close of Rs. 757. The total number of shares traded during the day was 2147 in over 245 trades.

The stock hit an intraday high of Rs. 762 and intraday low of 746. The net turnover during the day was Rs. 1615573.

Source : Equity Bulls

Keywords