Majesco Strengths, Domain Expertise, and Key Differentiators
Majesco has over three decades of experience in providing insurance cloud based software platform solutions for the insurance industry across lines of business – Property & Casualty (General Insurance), Life, Annuity, Health, Pensions, and Group & Voluntary Benefits insurance to help insurer's digital transformation to seize market opportunities by delivering speed to value - speed to implementation, speed to market and speed to revenue.
Majesco Recent Developments
In April 2019, Majesco unveiled Majesco P&C Core Suite Version 11 which will be generally available on October 2019, including Majesco Policy for P&C, Majesco Billing for P&C and Majesco Claims for P&C. This version includes 100 new features and 700 new capabilities to accelerate insurers’ transformation to the future of insurance.
In May 2018 Majesco launched Majesco Digital 1st Insurance the first microservices platform for the insurance industry. The components in the first release included Majesco Digital1st Platform and Majesco Digital1st EcoExchange. The release followed a successful beta period with selected customers and partners.
Majesco has formed a new greenfield business unit which will focus on developing and delivering innovative digital solutions as well as the new partner marketplace.
Majesco Mergers and Acquisitions (M&A) Activities
In March 2019, Majesco acquired the India based insurance software business from its parent company, Majesco Limited and became effective from April, 2019. This acquisition of the India Insurance Software Business ensures simplification of the group’s operating structure and consolidation of the business under Majesco.
In November 2018, Majesco acquired Exaxe, EMEA Cloud Software for life, pensions and wealth management. This acquisition will strengthen and expand Majesco’s software offerings in EMEA for the individual life, pensions and wealth management market while complementing Majesco’s software and Group focused customer base in the UK.
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 customers.
Ownership: - NYSE : MJCO
Number of Employees: 2682
Functional Markets: ERP Services and Operations Management,
Key Verticals: Insurance,
Majesco Key Enterprise and Cloud Applications
Majesco CloudInsurer, P&C Core Suite, Digital1st Insurance
Majesco Revenues, $M:
|Type/Year||2017||2018||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Majesco Revenue Breakdown By Type, $M:
|Type||License||Services||Hardware||Support & Maintenance||SaaS|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe|
Majesco Enterprise Applications Revenues By Functional Markets, $M:
Majesco Enterprise Applications Revenues By Verticals, $M:
Majesco Revenues By Region, $M
|Region||% of Total Revenues||2018 Total Revenues, $M||2018 Enterprise Applications Revenues, $M||2018 Cloud Applications Revenues, $M|
Majesco Direct vs Indirect sales
|Region||Direct Sales||Indirect Sales||Total|
Majesco Customers - Breakdown by Geo, Size, Vertical and Product
No. of Majesco Customers: 200
No. of Majesco Enterprise Applications Customers: 200
No. of Majesco Cloud Customers: 54
No. of Majesco Cloud Subscribers: x
Majesco has more than 200 insurance carriers worldwide as customers. Among its customers are: MMG, a mid-market insurer, selecting Majesco P&C Suite and Majesco Business Analytics in the Cloud; UNUM, a tier one insurer, selecting Majesco L&A Policy and Majesco Billing; QBE, a top 20 insurer selecting Majesco Billing, Policy Admin and Business Analytics in the cloud; and a growing number of InsurTech startups and incumbent greenfields including: Heritage Insurance, Urban Advantage, Ategrity Specialty Insurance, Say Insurance and more.
Majesco Market Opportunities, M&A and Geo Expansions
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
Majesco Makes Strategic Moves to Accelerate Cloud Growth. In December 2018, Majesco announced the filing of a registration statement relating to a right offering to all shareholders in which it expects its parent company will invest an estimated $35 million that it raised through a Qualified Institutional Placement in India on February 2018 and the company intends to use this capital to fund the remainder of the Exaxe acquisition, pay off debt, and accelerate cloud growth, which includes additional acquisition opportunities.
We must note that Its Top 5 client revenue contribute 40% of its revenue while its Top 10 client contribute 57%.
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 Cloud Infrastructure Insights
Subscribe to read more about:
- Majesco Public Cloud and Infrastructure (IaaS)
- Majesco Platform (PaaS)
- Majesco Application Delivery
- Majesco Private Cloud and Data Centers
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:https://www.appsruntheworld.com/About Us
Copyright © 2020, APPS RUN THE WORLD