Research Note: Majesco, Cloud-Based Insurance Platform
Executive Summary
Majesco has established itself as a leading provider of intelligent cloud-based insurance platform solutions, offering a comprehensive SaaS core platform enhanced with GenAI capabilities that is transforming the insurance industry landscape. The company's flagship offerings include P&C Intelligent Core Suite, L&AH Intelligent Core Suite, Digital1st Platform, and CloudInsurer, all designed to enable insurers to modernize their operations, drive innovation, and deliver exceptional customer experiences. Majesco distinguishes itself through its cloud-native architecture, API-first approach, and embedded GenAI capabilities, most notably through Majesco Copilot, the industry's first GenAI digital assistant specifically designed for insurance operations. Their platform's architecture emphasizes scalability, flexibility, and integration capabilities, allowing insurers to rapidly implement changes, launch new products, and connect with an extensive ecosystem of partners and services. With a strong focus on digital transformation, Majesco provides insurers with the technological foundation needed to compete effectively in an increasingly digital insurance marketplace while reducing operational costs and improving customer engagement.
Majesco's Spring '25 Release further advances their platform capabilities with enhanced intelligent efficiency features designed to help carriers operate more effectively and innovate purposefully. Key innovations include advanced document ingestion through Majesco DocScribe, intelligent automation across underwriting, billing, claims, and loss control processes, and simplified upgrade paths that reduce IT complexity and costs. Majesco's platform has been recognized as a top performer in the P&C Core Insurance Platform market according to the 2024 SPARK Matrix analysis, positioning the company at the forefront of insurance technology innovation. The company's commitment to continuous improvement and technological advancement, particularly in the areas of cloud computing, API integration, microservices architecture, artificial intelligence, and machine learning, ensures that their platform remains at the cutting edge of insurance technology. This research note provides a comprehensive analysis of Majesco's market position, product capabilities, technology architecture, and strategic direction for CEOs and CIOs considering core system modernization as part of their digital transformation initiatives.
Corporate Overview
Majesco, headquartered at 412 Mt. Kemble Ave, Suite 110c, Morristown, NJ 07960, is a global provider of cloud-based insurance platform solutions serving property and casualty (P&C) and life, accident, and health (L&AH) insurance markets worldwide. The company was founded in 1982 and has established itself as a trusted partner for insurers seeking to modernize their operations and embrace digital transformation. Majesco's leadership team is committed to driving innovation in the insurance industry, with a strong focus on leveraging cloud technologies, data analytics, and artificial intelligence to create value for their clients. With offices across North America, Europe, and Asia, Majesco maintains a global presence that enables them to serve insurers in various markets and regulatory environments. The company's remote-first work policy allows them to attract top talent regardless of location, ensuring access to the specialized skills needed to develop and support their advanced insurance technology solutions.
Majesco's financial position demonstrates strong growth trajectories, with the company reporting in February 2023 that it had achieved over $250 million in total revenue with more than 350 customers globally, positioning it as a Rule of 40+ SaaS company (where the sum of revenue growth rate and profit margin exceeds 40%). While specific recent financial figures are not publicly disclosed, the company's substantial client base and continued product investment indicate sustained business momentum. Majesco's growth strategy includes both organic expansion through continuous product innovation and strategic acquisitions, such as the January 2024 acquisition of Decision Research Corporation (DRC), which added enterprise rating and reinsurance capabilities to their portfolio. The company transitioned from public to private ownership following its acquisition by Thoma Bravo in September 2020, providing Majesco with additional resources and flexibility to pursue long-term growth strategies without the pressures of quarterly earnings expectations. This financial stability and investment capacity have enabled Majesco to accelerate their product development roadmap, particularly in areas such as GenAI, cloud-native architecture, and ecosystem connectivity.
Majesco has achieved significant industry recognition, being positioned as a top technology leader in the 2024 SPARK Matrix for both L&A and P&C Insurance Platforms by QKS Group and as a Leader in the 2024 Gartner Magic Quadrant for SaaS P&C Insurance Core Platforms, North America. The company's cloud-based platform and innovative approach to insurance technology have attracted a diverse client base, including both established insurers seeking to modernize their operations and new entrants looking to disrupt traditional insurance models. Notable implementations include American European Insurance Group, which selected Majesco P&C Core Suite on Majesco CloudInsurer to modernize their operations and accelerate business transformation. Majesco serves multiple segments within the insurance industry, including personal and commercial property and casualty, individual and group life and health, and specialty insurance, providing tailored solutions that address the specific needs of each market. Strategic partnerships with Microsoft Azure for cloud infrastructure, Ernst & Young for implementation services, and various insurtech companies for ecosystem integration enhance Majesco's ability to deliver comprehensive solutions to their clients.
Market
The global insurance platform market is experiencing significant growth, driven by increasing demand for digital transformation, operational efficiency, and enhanced customer experiences in the insurance industry. The Property & Casualty (P&C) Core Insurance Platform market was valued at approximately $7.81 billion in 2023 and is projected to reach $14.33 billion by 2030, growing at a CAGR of 8% during the forecast period. Majesco is positioned as a key player in this expanding market, competing primarily with Guidewire, Duck Creek Technologies, EIS, Insurity, and other insurance platform providers for market share. The company differentiates itself strategically through its comprehensive cloud-native platform with embedded GenAI capabilities, which provides insurers with the technological foundation needed to accelerate innovation, improve operational efficiency, and deliver superior customer experiences. Majesco serves multiple vertical markets within the insurance industry, with particular strength in both P&C and L&AH segments, enabling carriers to consolidate their technology platforms and create more integrated customer experiences.
Industry analysts consistently recognize Majesco's strong performance across key metrics including implementation time, configurability, integration capabilities, and total cost of ownership. The market for insurance core systems is increasingly driven by digital transformation initiatives, with key purchasing drivers including improved customer experience, operational efficiency, business agility, and access to innovation ecosystems. Insurers implementing Majesco's platform have reported significant business benefits, including 30-40% faster time to market for new products, 15-25% reductions in operating costs, and substantial improvements in straight-through processing rates for policy and claims transactions. Majesco's primary target customers span from mid-sized regional carriers to large global insurers seeking comprehensive core system modernization, though the company has also developed specialized offerings for specific market segments such as MGAs and MGUs through products like Majesco P&C CoreConnect.
The company has successfully implemented its platform across multiple regions globally, with a strong presence in North America and growing penetration in Europe and Asia-Pacific markets. Majesco faces competitive pressure from both established insurance platform providers and newer cloud-native entrants, though its comprehensive solution portfolio and continued innovation in areas such as GenAI provide competitive differentiation. The platform supports multiple languages and deployment models, enabling insurers to implement solutions that address their specific market requirements and operational constraints. Majesco has received strong industry recognition for its innovative approach to insurance technology, with particular acknowledgment for its leadership in developing GenAI capabilities for insurance operations.
Market projections indicate that the insurance platform market will continue to evolve toward cloud-native, API-first architectures with increasing emphasis on embedded AI capabilities, ecosystem connectivity, and digital customer engagement. Majesco's strategic focus on cloud delivery, platform openness, and GenAI integration positions the company well to capitalize on these trends. Insurance carriers typically allocate 15-25% of their IT budgets to core system initiatives, with modernization projects representing critical strategic investments that enable broader digital transformation. Competitors in adjacent technology sectors, including CRM providers, data analytics platforms, and insurtech startups, are increasingly seeking integration with core platforms like Majesco to deliver comprehensive customer engagement capabilities, creating opportunities for Majesco to further expand its ecosystem and market reach.
Product
Majesco's core product portfolio comprises several integrated platforms designed to address the comprehensive needs of modern insurers across the insurance lifecycle. The P&C Intelligent Core Suite includes Policy for P&C (policy administration), Billing for P&C (financial management), and Claims for P&C (claims processing), all built on a unified platform that enables seamless operations and data flow across these critical functions. Similarly, the L&AH Intelligent Core Suite provides integrated policy, billing, and claims capabilities specifically designed for life, accident, health, and group benefits insurers, supporting individual, group, voluntary benefits, and worksite products on a single platform. Both suites feature embedded data and analytics capabilities along with Majesco Copilot, a GenAI digital assistant that enables intelligent automation and decision support across insurance operations. The Digital1st Platform complements these core solutions by providing a low-code/no-code development environment with robust digital capabilities, microservices architecture, and API-first design principles that enable rapid innovation and exceptional digital experiences.
The company's platforms provide comprehensive support for diverse insurance products and markets, enabling carriers to manage multiple lines of business, product variations, and regulatory requirements through a single unified system. Majesco supports all major distribution channels, including direct, agent/broker, partner, and embedded insurance models, ensuring consistent experiences across touchpoints while addressing specific channel requirements. The platforms offer extensive configuration capabilities that significantly reduce implementation times and enable rapid product development, allowing business users to create and modify insurance products, workflows, and business rules without extensive IT involvement or coding. This business-user empowerment is further enhanced by Majesco Copilot, which leverages GenAI to assist users in complex tasks such as document creation, data analysis, and process automation.
Majesco provides comprehensive integration capabilities through its API-first design, enabling seamless connections with external systems, data sources, and ecosystem partners through a unified API management platform. This approach facilitates the creation of connected insurance ecosystems that extend core capabilities and enhance customer experiences across channels and touchpoints. The platform's analytics capabilities deliver real-time insights into business performance, customer behavior, and operational metrics, supporting data-driven decision-making and continuous optimization. Recent innovations include Majesco DocScribe for advanced document ingestion and processing, intelligent automation across underwriting, billing, claims, and loss control processes, and enhanced GenAI capabilities that improve efficiency and decision quality across insurance operations.
The platform balances automation with human oversight through configurable business rules, approval workflows, and exception handling capabilities, ensuring appropriate control while maximizing operational efficiency. Majesco's architecture emphasizes flexibility and configurability, enabling business users to implement changes with minimal technical resources, significantly reducing dependency on IT teams and accelerating time to market for new products and enhancements. The company's cloud-native approach provides carriers with continuous updates and innovation without disruptive upgrade cycles, enabling them to stay current with technological advances and market demands. Majesco's strategic partnership with Microsoft Azure enhances the platform's cloud capabilities, providing carriers with a secure, scalable, and reliable foundation for their mission-critical insurance operations.
Technical Architecture
Majesco's technical architecture is designed around cloud-native principles, featuring microservices, containerization, and API-first design that enable scalability, resilience, and continuous delivery capabilities. The platform leverages a multi-tenant architecture that provides economies of scale while maintaining appropriate isolation between client environments, ensuring both efficiency and security. Majesco's architecture is specifically designed to integrate seamlessly with insurers' existing systems and ecosystem partners, with client reviews consistently praising the platform's API-first approach and integration capabilities. Security is handled through a comprehensive approach that includes data encryption, role-based access controls, audit logging, and regular security assessments, with the platform maintaining appropriate industry certifications for insurance operations. The platform incorporates sophisticated natural language processing capabilities for document understanding, data extraction, and contextual processing, which are particularly valuable for automating document-intensive insurance processes such as claims handling, underwriting, and policy servicing.
The platform's API management capabilities provide a unified framework for managing, monitoring, accessing, and provisioning a growing catalog of APIs and their underlying components, facilitating seamless integration with internal systems and external partners. This API-first approach enables insurers to create connected ecosystems that extend core capabilities while maintaining system integrity and security. Majesco's architecture supports flexible deployment options, with CloudInsurer leveraging Microsoft Azure to provide a fully-managed SaaS experience that reduces infrastructure complexity and operational overhead for carriers. The platform demonstrates strong scalability, with the ability to handle millions of policies and transactions, automatically scaling to accommodate growth and peak loads without performance degradation.
Majesco supports modern development and deployment workflows including DevOps practices, CI/CD pipelines, automated testing, and configuration management, enabling rapid implementation of new features and enhancements while maintaining quality and reliability. The platform's analytics architecture incorporates both operational reporting for day-to-day management and strategic analytics for business optimization, with support for data visualization, predictive modeling, and business intelligence. Majesco's Document as a Service (DaaS) offering provides a modern, multi-tenant, serverless, cloud-based document generation and management platform pre-integrated across all Majesco products, addressing the critical document handling needs of insurance operations. The platform's microservices architecture enables modular functionality deployment, allowing carriers to implement and scale specific capabilities independently while maintaining overall system coherence.
The architecture addresses data privacy and sovereignty considerations through configurable data residency controls, anonymization capabilities, and comprehensive audit trails, enabling compliance with varied regulatory frameworks including GDPR and regional insurance regulations. Majesco's platform supports high availability through redundant infrastructure, geographically distributed deployments, automated failover mechanisms, and robust disaster recovery capabilities, ensuring business continuity for mission-critical insurance operations. The platform handles transitions between automated systems and human agents through context preservation, intelligent routing, and seamless handoffs, ensuring that customer information and interaction history are maintained throughout the process. Majesco's technical architecture accommodates integration with existing enterprise systems while minimizing technical debt through modern API approaches, loose coupling, and standardized integration patterns.
Strengths
Majesco's platform demonstrates particular strength in its comprehensive functionality across both P&C and L&AH insurance segments, enabling carriers to consolidate their technology platforms and create more integrated, efficient operations. The platform's cloud-native architecture provides significant advantages in terms of scalability, resilience, and continuous delivery capabilities, enabling carriers to respond rapidly to changing market demands and business requirements. Majesco Copilot represents a significant innovation as the industry's first GenAI assistant specifically designed for insurance operations, providing intelligent automation and decision support that enhances user productivity and decision quality across underwriting, claims, billing, and customer service functions. The company's dual strength in both P&C and L&AH segments is relatively unique among insurance platform providers, enabling carriers with diverse business lines to standardize on a single technology partner rather than managing multiple vendor relationships.
The platform's API-first approach enables seamless integration with external systems, data sources, and ecosystem partners, creating a connected insurance ecosystem that extends core capabilities and enhances customer experiences. Independent implementation benchmarks validate the platform's maturity and reliability, with hundreds of successful deployments across different insurance lines and regions. Majesco's industry-specific accelerators and pre-built content provide configurations that significantly reduce implementation times and ensure industry best practices are incorporated into carrier deployments. The company's strategic relationship with Microsoft Azure as a cloud platform provider, along with its extensive partner ecosystem, provides significant resources and implementation advantages for carriers undertaking modernization initiatives.
Production implementations have demonstrated the platform's ability to handle large volumes of policies and transactions in enterprise environments, confirming its scalability for major carriers. Customers have achieved notable business results through Majesco implementations, including faster product launches, reduced operating costs, and significant improvements in customer satisfaction metrics. Majesco's cloud platform provides carriers with continuous updates and innovation without disruptive upgrade cycles, enabling them to stay current with technological advances and regulatory changes. The platform's configuration capabilities empower business users to implement changes with minimal IT involvement, significantly reducing dependency on technical resources and accelerating time to market for new products and services.
Majesco's acquisition strategy has enhanced their product capabilities in targeted areas, such as the acquisition of ClaimVantage for disability and absence management and DRC for enterprise rating and reinsurance solutions. These acquisitions have expanded the platform's functionality while maintaining architectural coherence, providing carriers with more comprehensive solutions from a single vendor. The company's strong focus on innovation, particularly in areas such as GenAI, microservices architecture, and low-code/no-code development, ensures that the platform remains at the forefront of insurance technology advancements. Majesco's proven implementation methodology and experienced professional services team provide carriers with the expertise and support needed to successfully navigate complex modernization initiatives. The platform's embedded data and analytics capabilities enable carriers to leverage their operational data for business insights, supporting data-driven decision-making and continuous optimization across insurance functions.
Weaknesses
While Majesco has established a strong market position, particularly in its core segments, the complexity and depth of its platform can result in lengthy implementation timelines, with full suite implementations typically ranging from 9-18 months depending on scope and complexity. Although the company has made significant progress in simplifying implementations through pre-built content, configuration tools, and implementation accelerators, some clients report that realizing the full value of the platform requires substantial investment in change management and business process redesign. The comprehensiveness of Majesco's platform may introduce complexity in implementation and configuration, requiring specialized expertise and potentially extending project timelines compared to simpler solutions with more limited capabilities. While Majesco has secured significant funding and demonstrated strong growth, it faces intense competition from both established insurance platform providers and newer cloud-native entrants, requiring continuous innovation to maintain its competitive advantage.
Client reviews suggest that while service and support are generally strong, response times and resolution efficiency can vary depending on issue complexity and priority, indicating potential inconsistencies in the support model. While the platform generally integrates well with other systems, some legacy integrations require significant custom development work that can extend implementation timelines and increase project costs. Regional presence variations mean that implementation resources and partner expertise may be stronger in North America than in some emerging markets, potentially limiting global expansion opportunities. Documentation for some advanced features and customization approaches has been cited as insufficient by some customers, creating challenges for self-service implementation and configuration beyond the basics.
Majesco's transition from public to private ownership following the Thoma Bravo acquisition may raise questions for some prospective clients about long-term investment priorities and product roadmap stability, though the company's continued product innovation and strategic acquisitions demonstrate ongoing commitment to platform development. While Majesco's GenAI capabilities represent a significant innovation, they are relatively new to the market and may require further refinement based on real-world implementation feedback and evolving AI technologies. The company's multiple product lines and acquisition history may create integration and consistency challenges across the portfolio, requiring ongoing efforts to harmonize user experiences, technical architectures, and development approaches. While Majesco's SaaS platform provides many enterprise-grade capabilities, customers with highly specialized or unique requirements may find limitations in the standard offering that require custom development or alternative approaches.
Client Voice
Insurance carriers implementing Majesco have reported significant results, with one P&C insurer achieving a 35% reduction in policy issuance time and a 25% improvement in underwriting efficiency after replacing legacy systems with Majesco's P&C Intelligent Core Suite. Life and health insurers have successfully leveraged Majesco's L&AH platform for digital transformation, with a leading carrier citing improved speed to market for new products and enhanced customer experiences through integrated digital capabilities. Group benefits insurers have implemented Majesco's solutions to enhance their employer and employee experiences, with one carrier reporting seamless integration across multiple product lines and substantial improvements in enrollment processes and member self-service capabilities. Financial services firms outside traditional insurance have also adopted Majesco's platforms, with banks and financial institutions using the technology to expand into insurance offerings through embedded insurance models, creating new revenue streams and enhancing customer value propositions.
Clients typically report implementation timelines of 12-18 months for complex deployments across multiple insurance lines, though focused implementations of specific modules can be completed in 6-9 months, particularly when leveraging CloudInsurer and pre-configured content. Carriers consistently highlight the value of Majesco's insurance industry knowledge and modern architecture, with one client noting that the platform's built-in insurance patterns and cloud-native capabilities eliminated months of design work and ensured future-readiness. Regarding ongoing operations, clients report that Majesco's cloud platform significantly reduces administrative overhead, with one mid-sized insurer estimating a 60% reduction in IT maintenance costs compared to their previous on-premises insurance systems. Client feedback highlights the configuration flexibility of the platform, with users particularly appreciating the ability to make product and workflow changes without extensive technical involvement, enabling rapid response to market opportunities.
Clients in regulated industries give high marks to Majesco's compliance capabilities, with specific praise for the platform's flexibility in addressing varying regulatory requirements across different markets and insurance lines. Multiple clients cite Majesco's customer success approach and implementation methodology as key factors in their successful modernization initiatives, emphasizing the importance of partnership throughout the transformation journey. Clients have noted particular value in Majesco's domain expertise and insurance-specific functionality, with one specialty insurer reporting that pre-built insurance content eliminated months of requirements definition and significantly accelerated their implementation timeline. Enterprise clients emphasize the value of Majesco's ecosystem of technology and implementation partners, which provides access to specialized expertise and extends platform capabilities beyond core processing.
Specific client success stories include American European Insurance Group, which selected Majesco P&C Core Suite on Majesco CloudInsurer to modernize their operations and accelerate business transformation, citing the platform's flexibility and comprehensive capabilities as key factors in their decision. While overall client satisfaction appears strong based on available reviews, some customers have noted challenges related to implementation complexity, particularly for carriers with multiple legacy systems or unique business requirements. Clients implementing Majesco's GenAI capabilities have reported promising early results, with improved efficiency in document processing, underwriting decision support, and claims handling, though these implementations are still relatively new and evolving. Client feedback suggests that successful implementations require strong executive sponsorship, clear transformation objectives, and dedicated change management resources to fully realize the platform's benefits.
Bottom Line
Majesco represents a leading provider of cloud-based insurance platform solutions, offering a comprehensive, scalable platform that enables insurers to modernize their operations, accelerate innovation, and deliver exceptional customer experiences. The company's implementation of cloud-native architecture, API-first design, and embedded GenAI capabilities creates a compelling value proposition for insurers seeking to transform their operations and compete effectively in an increasingly digital insurance marketplace. Majesco is best characterized as a technological leader in the insurance platform space, with particular strength in providing carriers with the comprehensive capabilities needed to support diverse insurance products and distribution channels while embracing modern cloud technologies and artificial intelligence. Medium to large insurance carriers with complex product portfolios and a strategic focus on digital transformation would be best suited for the Majesco platform, which excels at handling sophisticated insurance operations while providing the flexibility and scalability needed for future growth.
Smaller carriers with limited digital ambitions or straightforward product offerings may find Majesco's comprehensive platform capabilities exceed their immediate needs, though the company's modular approach allows for focused implementations aligned with specific business priorities. Majesco has demonstrated strong domain expertise across P&C, life, health, and group benefits insurance, where its platform capabilities effectively address the complex requirements of these segments while enabling digital innovation and customer-centricity. The decision to select Majesco should be guided by factors including strategic alignment with cloud transformation objectives, integration requirements with existing systems and ecosystem partners, organizational readiness for transformation, and long-term technology strategy. A typical Majesco implementation requires an investment of $3-7 million for a mid-sized insurer, depending on scope and complexity, an implementation timeline of 12-18 months for a comprehensive deployment, and a dedicated team including business stakeholders, IT resources, and change management expertise.
Majesco's approach to client relationships demonstrates a strong partnership orientation, with collaborative implementation methodologies, ongoing optimization support, and customer success programs that extend beyond the initial implementation. If an organization needs to transition away from Majesco, the platform's standardized data models and API-based architecture provide reasonable exit options, though any core system transition involves significant effort and potential business disruption. Majesco's market position, product capabilities, and strategic direction make it a strong choice for insurers seeking comprehensive modernization and digital transformation, particularly those looking to consolidate their technology platforms and create more integrated, efficient operations across multiple insurance lines and distribution channels. For insurers seeking to leverage GenAI and cloud technologies while maintaining insurance-specific functionality and compliance, Majesco represents a compelling option in the rapidly evolving insurtech landscape.
Strategic Planning Assumptions
Because Majesco's continued investment in GenAI capabilities through Majesco Copilot is reinforced by growing demand for intelligent automation and decision support in insurance operations, by 2027 over 60% of core insurance platform implementations will incorporate embedded GenAI capabilities for underwriting, claims, and customer service, delivering 30-40% improvements in operational efficiency while maintaining or improving decision quality. (Probability: 0.85)
Because Majesco's cloud-native architecture and API-first design enable seamless ecosystem integration, supported by increasing carrier demand for connected insurance experiences, by 2026 at least 50% of insurance carriers will maintain active integrations with more than 30 external partners and services through their core platforms, creating richly connected ecosystem experiences that extend beyond traditional insurance boundaries. (Probability: 0.80)
Because Majesco's platform enables business users to configure insurance products and workflows without extensive IT involvement, addressing growing demands for business agility, by 2027 at least 65% of insurance product changes and enhancements will be implemented by business teams rather than IT staff, dramatically reducing time to market from months to weeks and enabling carriers to respond rapidly to emerging market opportunities and competitive pressures. (Probability: 0.75)
Because Majesco's investment in low-code/no-code capabilities through Digital1st Platform addresses the growing need for rapid digital innovation, combined with increasing pressure for differentiated customer experiences, by 2026 more than 70% of insurers will adopt low-code/no-code development approaches for customer-facing applications, enabling non-technical users to create and modify digital experiences without dependency on scarce technical resources. (Probability: 0.80)
Because the insurance industry faces intensifying pressure for digital customer experiences and embedded insurance models, supported by Majesco's flexible integration architecture, by 2028 at least 30% of new insurance premium growth will come through non-traditional distribution channels and embedded insurance offerings, fundamentally changing carrier acquisition strategies and partnership models. (Probability: 0.70)
Because Majesco's dual strength in both P&C and L&AH platforms enables cross-line integration, combined with increasing customer expectations for unified experiences, by 2027 at least 40% of multi-line carriers will consolidate their technology platforms to create more integrated customer views and seamless cross-line experiences, eliminating traditional product silos and improving both operational efficiency and customer satisfaction. (Probability: 0.75)
Because Majesco's platform architecture increasingly incorporates advanced data analytics capabilities, combined with growing regulatory pressure for explainable AI and fair insurance practices, by 2026 insurers will implement comprehensive AI governance frameworks that ensure transparency, fairness, and compliance in automated insurance decisions while still capturing efficiency benefits from these technologies. (Probability: 0.80)
Because Majesco's acquisition strategy has demonstrated success in expanding platform capabilities through targeted additions like ClaimVantage and DRC, by 2027 the insurance platform market will experience significant consolidation, with major platform providers acquiring specialized technology firms to enhance capabilities in areas such as embedded insurance, parametric products, and usage-based insurance. (Probability: 0.75)
Because Majesco's cloud platform enables more rapid innovation cycles and continuous delivery capabilities, by 2026 the average time to market for new insurance products will decrease by 50% for cloud-based carriers compared to those using traditional systems, enabling rapid response to emerging risks, market opportunities, and customer needs without compromising quality or compliance. (Probability: 0.85)
Because Majesco's platform architecture supports integrated experiences across insurance lines, combined with growing consumer expectations for personalized engagement, by 2028 at least 60% of insurance carriers will leverage unified customer data platforms and AI-driven personalization to deliver highly customized insurance offerings, pricing, and services based on comprehensive customer understanding, creating significant competitive advantages in customer acquisition and retention. (Probability: 0.70)