Majesco Strengths, Domain Expertise, and Key Differentiators
Majesco provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Their platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal. Over 190 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco.
Majesco Recent Developments
In June 2020, Majesco launched new product portal – providing customers fast and easy access to robust product information and insight to product roadmaps and future of insurance technologies that will expand and accelerate customer’s planning and use of Majesco solutions today and for the future.
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.
Majesco Mergers and Acquisitions (M&A) Activities
In July 2020, Majesco signed a definitive agreement to be acquired by Thoma Bravo, L.P., private equity firm focused on the software and technology-enabled services sectors, in a transaction valuing the company at $594 million. Following the closing of the transaction, Majesco will operate as a privately held company. Under the terms of the agreement, all Majesco shareholders of record will receive $13.10 in cash for each share of Majesco common stock upon closing of the transaction. The price represents 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 acquired InsPro Technologies Corporation (OTCBB: ITCC), a U.S. based software leader in the life and annuity insurance market. InsPro Technologies brings an insurance administration and marketing system that supports group and individual business lines, and efficiently processes agent, direct market, worksite and website generated business. Majesco expands their customer portfolio of leading insurers and third-party administrators who currently process over 15 million policies daily, including some with over a million policies each.
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, CloudInsurer LifePlus, Cloudinsurer L&A and Group Core Suite, customers.
Ownership: - NYSE : MJCO
Number of Employees: 2403
Majesco Key Enterprise and Cloud Applications
Majesco CloudInsurer P&C Core Suite, Digital1st Insurance, CloudInsurer LifePlus, Cloudinsurer L&A and Group Core Suite,
Majesco Revenues, $M:
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* 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:
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Majesco Enterprise Applications Revenues By Functional Markets, $M:
Majesco Enterprise Applications Revenues By Verticals, $M:
Majesco Revenues By Region, $M
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Majesco Direct vs Indirect sales
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Majesco Customers - Breakdown by Geo, Size, Vertical and Product
No. of Majesco Customers: 190
No. of Majesco Enterprise Applications Customers: x
No. of Majesco Cloud Customers: x
No. of Majesco Cloud Subscribers: x
Majesco has more than 190 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 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
Majesco has been acquired by private equity Thoma Bravo, L.P. This change in leadership can shake up the company's strategy and growth for the future.
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
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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).
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