Majesco
Majesco Limited is a global provider of cloud-based software solutions tailored for the insurance industry, serving clients in North America, Europe, and other regions. The company specializes in delivering comprehensive insurance software that supports property and casualty, life, annuities, and pensions sectors. Its key offerings include a Property & Casualty Core Suite, L&A and Group Core Suite, and LifePlus Solutions, which encompass essential functions such as policy management, billing, claims, and distribution management. Additionally, Majesco provides a Digital Insurance platform and Data and Analytics solutions to enhance business intelligence and analytics capabilities for insurers. Founded in 1982 and headquartered in Morristown, New Jersey, Majesco aims to empower insurance organizations to optimize their operations across the entire insurance value chain, adapt to regulatory requirements, and innovate in product offerings. The company also offers consulting, implementation, and support services to facilitate seamless transitions to cloud-based operations.
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Past deals in Life Insurance
Inspro
Acquisition in 2020
InsPro Technologies is a technology company that specializes in providing software solutions for the insurance industry. Its primary product, InsPro Enterprise, is a comprehensive web-based software application designed for the administration of group and individual insurance policies, including health, life, and annuities. InsPro Enterprise facilitates operations across the entire insurance lifecycle, managing essential functions such as billing, claims, and payments, while supporting various channels and users within insurance agencies. The software's web-based architecture allows for the consolidation of multiple policies onto a single processing platform, enhancing efficiency. In addition to the software, InsPro offers optional services such as hosting, application management, technical support, and consulting. The company generates revenue through software licenses, service fees, maintenance fees, and implementation services.
Exaxe
Acquisition in 2018
Exaxe is a consultancy and software company based in Dublin, Ireland, established in 1997. It specializes in providing software solutions tailored to the financial services sector, particularly life, pensions, and wealth management. The company operates two divisions: Exaxe Consulting, which offers business and technical expertise throughout project phases, and Exaxe Product Solutions, which delivers innovative SaaS products that facilitate the launch and administration of financial products. Its digital platform supports the complete lifecycle of financial services, from automated advice and sales to administration and claims management. By offering a pay-per-usage model, Exaxe allows its clients to utilize its solutions without incurring large upfront licensing fees, ensuring accessibility from any location. Its client base includes prominent organizations such as AXA Life Invest, Prudential Europe, and Retirement Advantage, enabling them to respond effectively to market demands and improve operational efficiency. As of August 2019, Exaxe operates as a subsidiary of Majesco.
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