Majesco (NASDAQ: MJCO), a global provider of cloud insurance platform software for insurance business transformation, today announced that it has been recognized as a leader in The Forrester Wave™: Insurance Agency Portals, Q3 2020 report. The Forrester Wave™ evaluation highlights Leaders, Stronger Performers, Contenders, and Challengers. It’s an assessment of the top vendors in the market and does not represent the entire vendor landscape. Per the report, which evaluated 9 vendors, Majesco was one of three recognized as a leader.
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“As insurers digitally enhance front-end capabilities to elevate the customer experience (CX), insurance agency portal solutions that synchronize engagement across touchpoints, leverage AI to improve the customer and agent journey, and enable fast application development will lead the pack,” writes Jeffery Williams from Forrester in the report. “Vendors that can provide these capabilities position themselves to successfully deliver better experiences to insurers and their agencies.”
The report notes that “with the emergence of digital insurers, digital agencies, and insurance comparison websites, competition in insurance distribution has intensified. To remain competitive, insurance agents need technological capabilities that enable omnichannel delivery, intelligently automate sales and marketing and workflows, and provide operational agility in a continuously evolving digital insurance marketplace. As a result of these trends, insurance agency portal buyers should look for solutions that:”
- Digitize the policy lifecycle to provide customers with seamless omnichannel experiences
- Provide a 360-degree view of customers that enables insurers to provide agents with the capabilities they need to service their customers
- Deploy AI to enhance agent capabilities. Insurers and their agencies have large swaths of customer data that can be monetized to provide business value and elevate CX and will rely on AI-enabled recommendation engines to identify cross-sell and upsell opportunities
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“We built the Majesco Digital1st® Insurance from the ground up to provide one platform to enable organizations to pursue relentless innovation with speed and agility as they accelerate their journey on the digital maturity curve,” stated Manish Shah, President and Chief Product Officer at Majesco. “Majesco Digital1st® enables next-generation digital experiences that are personalized and engaging, well beyond traditional portals that will drive agent and customer satisfaction and business. We are honored to be recognized as a Leader by Forrester in the Forrester Wave™ Insurance Agency Portals report. We are committed to enabling the insurance industry’s transition to the digital, on-demand era with rich customer experiences; innovative business models, products and services; and access to a robust ecosystem of third-party capabilities that will accelerate the journey to the future of insurance.”
Majesco Digital1st Insurance® provides a powerful platform that can be leveraged through a wide variety of use cases ranging from high-fidelity portals over core systems to well-rounded omni-channel and omni-device customer and agent experiences enriched through heterogenous capabilities available through APIs. Digital1st Insurance® enables insurers digital transformation journey with three key steps including:
- Digitize – Is the first step and enables organizations to create digital portals for traditional portals for traditional product and channels to digitize and automate the existing processes.
- Optimize – The second step, enables organizations to move beyond digital portals to create richer digital experiences beyond core transactions.
- Innovate – The final step and end goal, enables organizations to launch new and innovative products and services to transform your business and operating models for building sustainable, competitive advantage.
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