Majesco Recognized as the Top Leader in the 2024 SPARK Matrix™ for Both Life Insurance & Annuity (L&A) and P&C Core Insurance Platforms by QKS Group

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Dec 12, 2024, 08:39 ET

MORRISTOWN, NJ, Dec. 12, 2024 /PRNewswire/ -- Majesco, a global leader in cloud insurance technology, has once again been recognized as the top technology leader in the 2024 SPARK Matrix™ by QKS Group for both Life Insurance Policy Administration System and P&C Insurance Platforms, following the similar recognition in 2023. Majesco CoreConnect is included for the first time this year. This dual recognition underscores Majesco's innovative capabilities, leadership in GenAI powered transformation, and customer-centric approach to reshaping the insurance industry.

The QKS Group SPARK Matrix™ evaluates vendors based on technology excellence and customer impact, providing an in-depth analysis of global market trends, competitive positioning, and vendor landscapes. Majesco's cloud-native platforms earned top scores across multiple parameters, reflecting its leadership and commitment to empowering insurers with cutting-edge technology and AI-driven solutions.

Driving Leadership in L&AH Insurance

Majesco's L&AH Intelligent Core Suite empowers insurers with end-to-end capabilities for policy, billing, claims, and distribution across individual, worksite, group, and voluntary benefits products. Advanced business capabilities and features, GenAI capabilities with Majesco Copilot, and embedded AI and analytics that enable seamless workflows, enhanced customer engagement, operational efficiency and optimization.

Setting a New Bar for P&C Insurance

Majesco's P&C Intelligent Core Suite deliver powerful, robust cloud-native solutions for personal, commercial, and specialty insurance lines. Majesco CoreConnect provides powerful, versatile solution tailored to MGAs and MGUs as well as smaller tier insurers. With built-in analytics, API-enabled architecture, and AI-driven insights, these platforms help insurers drive operational excellence, accelerate innovation, and enhance customer engagement.

According to Nehan Jain, Analyst at QKS Group, "Majesco's Intelligent Core Suites for both Property & Casualty (P&C) and Life & Annuity (L&AH) insurance sectors stand out as comprehensive solutions, offering robust capabilities across policy administration, billing, claims management, and distribution. Supporting a wide range of insurance models—personal, commercial, specialty, individual, group, and voluntary benefits—Majesco's solutions provide insurers and MGAs with an unmatched combination of flexibility, efficiency, and innovation. Enhanced by AI-driven tools like Majesco Copilot, advanced analytics, and seamless integration with digital engagement platforms, these solutions address dynamic market demands while fostering digital transformation and customer-centricity. These capabilities empower insurers to boost operational efficiency, deepen customer engagement, and accelerate digital transformation, firmly positioning Majesco as a key innovator and leader in the rapidly evolving insurance technology landscape."

Majesco's Commitment to Innovation

"At Majesco, we are honored to be recognized as leaders in both the L&AH and P&C insurance markets," said Manish Shah, President and Chief Product Officer at Majesco. "This recognition reflects our relentless focus on empowering insurers with intelligent core solutions and advanced technologies like Majesco Copilot. We remain committed to delivering transformative solutions that enable our customers to thrive in an increasingly digital world."

These recognitions reaffirm Majesco's dedication to reshaping the future of insurance by delivering intelligent, scalable, and customer-focused platforms for insurers across life, health, property, and casualty segments.

SPARK Matrix^TM: Life Insurance Policy Administration System
SPARK Matrix^TM: P&C Core Insurance Platform

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 MGAs, greenfields and startups to some of the world's largest insurers and reinsurers, rely on Majesco's intelligent SaaS platforms solutions, with GenAI powered insurance data analytics, of core, data, analytics, distribution, underwriting, loss control, digital, and rich ecosystem of partners to create their next now.

As an industry leader, we don't believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 1000+ successful implementations and 90% of our customers in the cloud 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.

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Laura Ann Tillotson
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About QKS Group:

QKS Group is a global advisory and consulting firm focused on helping clients achieve business transformation goals with Strategic Business and Growth advisory services. At QKS Group, 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.

QKS Group Contact:
Shraddha Roy
PR & Media Relations
QKS Group
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