MORRISTOWN, N.J.--(BUSINESS WIRE)--Majesco, a global leader in cloud insurance software solutions for insurance business transformation, is proud to announce that it has been named as a Leader in the IDC MarketScape: Worldwide Smart Insurance Producer Management Applications 2024 Vendor Assessment (doc #US51794124, November 2024).
“With Majesco Distribution Management, we’ve designed a solution that truly addresses the evolving needs of modern insurers with a suite of robust capabilities including onboarding, compliance, compensation management and performance and relationship management that manages the complexity of distribution channels with operational efficiency, access to all distribution data for business-driven insights, and flexibility to meet unique channel and business requirements,” said Manish Shah, President and Chief Product Officer at Majesco. “We believe our recognition by the IDC MarketScape reflects our ongoing commitment to providing insurers with intuitive, business-rich solutions that empower channel expansion, accelerate time-to-market, deliver exceptional producer experiences, and empower insurers to elevate their distribution management operations.”
Highlights of Majesco Distribution Management:
- Flexible Onboarding Options: Supports self-service portals, bulk uploads, and API integrations, ensuring regulatory compliance through real-time NIPR license verifications.
- Event-Based Communication: Provides timely updates on appointments, compliance statuses, and goals, keeping producers informed and compliant.
- Advanced Compensation Module: Configures complex commission structures, bonuses, and performance metrics, customized based on producer type, product, or location.
- Data-Driven Insights: Leverages a data lakehouse and business intelligence tools to deliver actionable insights from producer performance and transactional data, supporting strategic, data-driven decision-making.
- Seamless User Experience: Offers an intuitive, frictionless design with customer satisfaction rated highly by users, providing smooth navigation and end-to-end customer support from pre-sales through maintenance.
For more information on Majesco Distribution Management and other offerings, visit Majesco's website.
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.
About IDC MarketScape:
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of technology suppliers can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective suppliers.
