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Majesco's Utilant Acquisition Celebrates Two Years of Disruptive Market Success in Risk Management and Data and AnalyticsMajesco, a global leader of cloud insurance software for business transformation today announced the success of its May 2021 acquisition of Utilant, a U.S. based provider of the leading risk management SaaS product suite for Loss Control surveys and Premium Audit which includes its artificial intelligence (AI)/machine learning (ML) data and analytics offerings. Majesco launched an innovative Data and Analytics business unit combining Utilant's technology and data scientists with Majesco's market-leading solutions, resulting in an array of new, innovative solutions. In addition, Majesco has embedded data and analytics, including generative AI, into their P&C Intelligent Core, L&AH Intelligent Core and Loss Control to drive greater insight, operational effectiveness, and profitability for insurers. Data, effectively used, will always have value as analytics' capabilities stand to be a game-changer for insurance. When new, real-time data, advanced analytics, AI/machine learning, and generative AI are effectively combined, insurers can have a significant impact across the entire insurance value chain. According to Majesco's report, Future Trends: 8 Challenges Insurers Must Meet Now, implementing a long-term data strategy inclusive of advanced analytics is crucial to compete in today's rapidly emerging digital insurance era. "New technologies, demographics, and behaviors are driving the explosion of data, and how it is used by insurers. By embedding data and analytics in our products, we are creating a new generation of intelligent core insurance solutions that can fuel innovation and accelerate growth for insurers," says Adam Elster, CEO of Majesco. "With our foot on the pedal, we've used Utilant's market-leading technology, capabilities, and contributory database as a foundation to accelerate our investment in data & analytics. We're empowering our customers to drive operational optimization and fuel innovation, helping them thrive in a highly competitive marketplace." Over the last two year, Majesco has:
Majesco has quickly become the go-to partner for leading insurance organizations looking to accelerate growth, meet growing customer demands, and drive innovation. Through its unwavering commitment to innovation, Majesco has persistently invested in pivotal enhancements and enriched capabilities that are redefining the risk management, core solutions and data and analytics landscape including:
Majesco Loss Control is the only LC platform that is configurable, easily integrates into carrier platforms, and has a fully functional mobile experience. It has been proven to scale large volume with over 40,000 surveys being completed every week by customers currently using the platform. To learn more, visit www.majesco.com. 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's next, without losing sight of what's important now. Over 350 insurers, reinsurers, brokers, MGAs, and greenfields/startups rely on Majesco's SaaS platform solutions of core, digital, data & analytics, distribution, and a 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230829598710/en/ |
