Majesco Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

Majesco Strengths, Domain Expertise, and Key Differentiators

Majesco offers cutting-edge technology, extensive expertise, and visionary leadership to empower insurers in their journey towards modernization, innovation, and connectivity, shaping the future of both their business and the insurance industry rapidly and comprehensively. Through their advanced platforms, Majesco facilitates innovative, highly personalized, and compelling connections between individuals, businesses, and insurance, redefining the landscape with relevance and agility.

Majesco Recent Developments

In January 2024, Majesco has completed the acquisition of Decision Research Corporation (DRC) business, a SaaS-based insurance software company renowned for its enterprise rating, reinsurance solution, and core services tailored for the P&C insurance market. This acquisition will see Majesco welcoming more than 20 new P&C customers into its expanding customer community.

In June 2020, Majesco introduced a new product portal, offering customers swift and convenient access to comprehensive product information. This portal also provides insights into product roadmaps and the future of insurance technologies, facilitating enhanced planning and utilization of Majesco solutions both presently and in the future.

In April 2019, Majesco revealed the Majesco P&C Core Suite Version 11, set to be widely available in October 2019. This suite comprises Majesco Policy for P&C, Majesco Billing for P&C, and Majesco Claims for P&C. Version 11 boasts 100 new features and 700 new capabilities, designed to expedite insurers' transition towards the future of insurance.

Majesco Mergers and Acquisitions (M&A) Activities

In July 2020, Majesco as the company entered into a definitive agreement to be acquired by Thoma Bravo, L.P., a prominent private equity firm specializing in the software and technology-enabled services sectors. The transaction, valued at $594 million, transitioned Majesco into a privately held entity. Per the terms of the agreement, upon the transaction's closure, all Majesco shareholders received $13.10 in cash for each share of Majesco common stock, representing a premium of approximately 74% over Majesco’s average closing price during the 30-trading day period ended July 17, 2020.

In April 2020, Majesco further expanded its reach by acquiring InsPro Technologies Corporation (OTCBB: ITCC), a distinguished U.S.-based software leader specializing in the life and annuity insurance market. With its comprehensive insurance administration and marketing system, InsPro Technologies bolsters Majesco's customer portfolio, which already includes leading insurers and third-party administrators processing over 15 million policies daily.

In March 2019, Majesco took another strategic step by acquiring the India-based insurance software business from its parent company, Majesco Limited, effectively consolidating and simplifying the group's operating structure under Majesco.

In November 2018, Majesco acquired Exaxe, a notable provider of EMEA Cloud Software for life, pensions, and wealth management. This acquisition not only enhances Majesco's software offerings in the EMEA region but also complements its existing software and Group-focused customer base in the UK, further solidifying its position in the market.

Majesco Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Majesco applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Majesco and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Majesco CloudInsurer P&C Core Suite, Digital1st Insurance, CloudInsurer LifePlus, Cloudinsurer L&A and Group Core Suite, Majesco Health Core customers.

Majesco Key Enterprise and Cloud Applications

Majesco CloudInsurer P&C Core Suite, Digital1st Insurance, CloudInsurer LifePlus, Cloudinsurer L&A and Group Core Suite, Majesco Health Core

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Majesco Direct vs Indirect sales

Majesco Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Majesco Customers

No. of Majesco Customers: 370

No. of Majesco Enterprise Applications Customers: 370

No. of Majesco Cloud Customers: 240

No. of Majesco Cloud Subscribers: x

Majesco serves over 350 insurance carriers globally, including MMG, a mid-market insurer utilizing Majesco P&C Suite and Majesco Business Analytics in the Cloud. UNUM, a tier one insurer, has adopted Majesco L&A Policy and Majesco Billing. QBE, a top 20 insurer, has integrated Majesco Billing, Policy Admin, and Business Analytics in the cloud. Additionally, Majesco caters to a burgeoning array of InsurTech startups and established greenfields such as Heritage Insurance, Urban Advantage, Ategrity Specialty Insurance, Say Insurance, and others.

The latest acqusition has added another 20 customers in the P&C line.

Majesco Market Opportunities, M&A and Geo Expansions

The acquisition of Decision Research Corporation (DRC) business is a significant step in advancing Majesco’s P&C solutions. This solidifies Majesco's growth strategy centered around customers and underscores its dedication to streamlining insurance operations. Additionally, integrating DRC's enterprise rating engine with Majesco's P&C policy solutions will promote uniformity, adaptability, and agility in responding to market demands.

In July 2020, Majesco released Majesco Insurance Data & Analytics Platform which includes several enhancements to Majesco Enterprise Data Warehouse (EDW) and Majesco Business Analytics (MBA) components of the platform. Majesco Insurance Data & Analytics Platform helps insurers turn data into results and delivers relevant information to the right people in real-time. Rich out-of-the-box capabilities allows customers to spend more time on insights and actions and less time on setup.

In June 2020, Majesco started the expansion of new partner apps and unveils new partner self-serve capabilities to Majesco Digital1st® EcoExchange, a curated live service hub of Majesco Digital1st® Insurance platform. These enhancements will help insurers further evolve and accelerate their digital transformation as well as rapidly expand Majesco partners and their services available on Digital1st® EcoExchange as plug-n-play app.

In April 2019, Majesco and DataRobot partnered to bring integrated AI/Machine learning with Majesco Solutions to customers and the insurance industry. This partnership integrated AI and automated machine learning capabilities with Majesco solutions to help insurers optimize the business and drive growth and innovation.

In May 2019, Capgemini and Majesco become alliance partners. This relationship brand insurance innovation and business transformation to the Life & Annuity and Group insurance market.

In October 2018, Majesco unveiled strong financial results for the fiscal 2019 second quarter ended September 30, 2018. Cloud Revenue up 41% from second quarter FY18 representing 39% of total revenue. Total Revenue up 12% from second quarter FY18. Adjusted EBITDA margin of 13% up significantly from second quarter FY18.

Majesco Risks and Challenges

The acquisition of Majesco by private equity firm Thoma Bravo, L.P. introduces a new leadership dynamic that may significantly influence the company's strategic direction and future growth trajectory.

Majesco Ecosystem, Partners, Resellers and SI

With a strong global presence across North America, EMEA, and the Asia Pacific, Majesco is a software platform partner of choice for insurance carriers worldwide. Majesco has strategic partnerships with IBM, Deloitte, Capgemini, and Symcor including industry and solutions partners as IAcord, IASA, LOMA, Silicon Valley Insurance Accelerator, TMPAA, Appulate, BluePrint, CalcFocus, DataRobot, Denim, Digital Matrix Systems, DOOR3, Dropin, CyberSource, eGain, Fusion, LexisNexis, Microsoft Azure, ISO, Elafris, Splice Software and others.

Majesco has fortified its Majesco Analytics solutions by leveraging Qlik's data integration capabilities, thereby expediting implementation processes.

Majesco Cloud Infrastructure Insights

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• Majesco Public Cloud and Infrastructure (IaaS)
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Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: