- The Quadrant Knowledge Solutions SPARK Matrix™ provides competitive analysis & ranking of the leading vendors.
- Majesco, with its comprehensive technology and customer experience management, has received strong ratings across the parameters of technology excellence and customer impact.
MORRISTOWN, N.J., Nov. 7, 2023 /PRNewswire/ -- Quadrant Knowledge Solutions announced today that it has named Majesco as a 2023 technology leader in the SPARK Matrix: P&C Core Insurance Platform market.
The Quadrant Knowledge Solutions' SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading technology vendors in the form of its SPARK Matrix™. The study offers strategic information for users to evaluate different provider capabilities, competitive differentiation, and market position.
According to Nehan Jain, Analyst at Quadrant Knowledge Solutions, "Majesco cloud-based P&C Core Intelligent Suite supports Personal, Commercial, Worker's Compensation, Specialty Lines of business and other innovative insurance products as well as covers end-to-end optimized insurance operations via core offerings including policy management, quoting/rating/proposals, new business and group underwriting, billing, claims management, and distribution management. The company distinguishes itself in the global P&C Core Insurance Platform market by providing differentiated offerings such as AI-enabled property risk management, loss control for data-driven risk-assessment to optimize underwriting, 360-degree customer and business view by following dashboard driven approach, modelling toolkit for tailoring UI, APIs and configuring business rules and processes." With its comprehensive functional capabilities, strong customer value proposition, and compelling ratings across customer impact and technology excellence parameters, Majesco has been recognized as a leader in the 2023 SPARK MatrixTM: P&C Core Insurance Platform," adds Nehan.
Quote by Majesco:
"We're proud to be ranked as the #1 leader in P&C by Quadrant Knowledge Solutions," says Manish Shah, Chief Product Officer at Majesco. "Our commitment to relentless innovation has enabled us to deliver market-changing solutions that not only help our customers stay at the forefront but change the way insurance is done. Majesco's P&C Intelligent Core, powered by Majesco Copilot embedded into core insurance processes enhances productivity, decision making and overall customer experience across the entire insurance value chain."
Quadrant Knowledge Solutions defines P&C Core Insurance Platform as:
"A Property & Casualty Insurance (P&C) platform enables property and casualty insurers to manage core operational functions, including policy, billing, and claims, for both personal and commercial property as well as liability coverage. An integrated P&C core suite offers solutions, including a policy management system for managing end to end policy administration lifecycle, billing for managing the full billing and collection lifecycle and claims for end-to-end processing and handling of claims for all personal and commercial lines of business."
Insurers are conscious of the fact that modern P&C Core Insurance Platform equipped with advanced technologies such as AI/ML, advanced analytics, integration with IoT devices are the way forward as the insurance industry transition towards customer experience personalization initiatives. Also, vendors across the market are focusing on streamlining entire policy lifecycle processes, providing an omnichannel customer experience for policyholders, and keeping track of ever evolving regulatory compliances to ensure the protection of sensitive customer data. The platform provides wide range of advanced functionalities for multiple use cases such as end-to-end policy management, modernization of legacy platforms along with data migration, reduction of onboarding and claims adjudication time via straight-through processing of new business and claims underwriting, holistic view of policyholder's lifecycle, and digitization of forms and contracts.
Additional Resources:
- For more information about Majesco visit here.
- SPARK Matrix: P&C Core Insurance Platform, 2023.
About Majesco
Majesco is the partner P&C and L&AH insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what is next, without losing sight of what's important now. Over 350 insurers, from greenfields and startups to some of the world's largest insurers, rely on Majesco's SaaS platforms solutions of core, data and analytics, digital, and rich ecosystem of partners to create their next now.
As an industry leader, we do not believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 900+ successful implementations, we are uniquely qualified to bridge the gap between a traditional insurance industry approach and a pure digital mindset. We give customers the confidence to decide, the products to perform, and the follow-through to execute.
For more information, please visit www.majesco.com and follow us on LinkedIn.
Media Contacts:
Laura Ann Tillotson
Vice President, Communications & Creative Services
Laura.tillotson@majesco.com
201-230-0752
About Quadrant Knowledge Solutions
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business and Growth advisory services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client's business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments.
For more available research, please visit https://quadrant-solutions.com/market-research/
Quadrant Contact:
Mr. Ajinkya Ingle
Quadrant Knowledge Solutions
Regus Business Center
35 Village Road, Suite 100,
Middleton Massachusetts 01949
United States
Email: ajinkya@quadrant-solutions.com
Phone: (+1) 978-605-1066
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