Majesco Leads in Insurance Core Systems Innovation for 2025
Majesco Leads in Core Systems for Insurance According to QKS Group
Majesco, recognized for its advances in cloud and AI technology within the insurance sector, has been identified as the top leader in two categories of the SPARK Matrix™ evaluations by QKS Group for 2025: the P&C Core Insurance Platform and the Life Insurance Policy Administration System. This achievement underscores Majesco's prominence in modernizing traditional systems with AI-enhanced capabilities.
Driving Innovation in Insurance Core Systems
QKS Group's SPARK Matrix™ provides a comprehensive analytical overview, ranking providers based on technology proficiency and customer impact. This year, Majesco stood out for its seamless integration of advanced technologies in its core systems, which supports insurers in upgrading traditional systems to modern, scalable ones emphasizing AI and cloud functionalities.
Transforming Property and Casualty With AI-Driven Solutions
In the property and casualty sector, Majesco's systems are deliberately designed to update old frameworks into agile and expansive cloud-native systems. These systems incorporate pre-configured business modules and utilize API-first microservices, supplemented by AI technologies, ensuring robust regulatory compliance and efficient risk management.
Enhancing Life Insurance Through Digital Transformation
In the life insurance domain, Majesco's system was noted for its ability to enhance core processes by combining digital interactions with intelligent automation. This transformative framework facilitates rapid innovation in products, streamlines operations, and elevates customer engagement, directly impacting payer and provider interactions.
Expert Insight and Industry Recognition
Analyst Varun Singh Bisht from QKS Group commented, “Majesco is vital in transitioning insurers from legacy systems to AI-enhanced, cloud-integrated platforms. Their approach leverages APIs, microservices, and composable architecture, enhancing advanced analytics and workflow automation. This facilitates quicker product deployments, optimization of internal processes, and improved customer service.”
Manish Shah, President and Chief Product Officer at Majesco, mentioned that being acknowledged by QKS Group endorses the company's strategic focus on embedding AI to generate operational benefits and business value. He noted that insurers often aim to simplify and refine their operations by integrating intelligence into routine processes, reducing underwriting complexities and operational costs.
About Majesco
Majesco specializes in intelligent cloud-based platforms, addressing the demands of P&C, L&AH, and Pension & Retirement markets. Their solutions focus on minimizing system complexity and enabling insurers to operate more effectively in a rapidly evolving market through AI-driven insights and improved business outcomes.
About QKS Group
QKS Group is a consultancy that supports enterprises and technology vendors with strategic decision-making, offering services such as market evaluations and competitive intelligence through platforms like the SPARK Matrix™. Their insights are crucial for carriers aiming to navigate regulatory challenges and enhance claims management efficiency.