Expands product depth, growth potential and brings strong domain knowledge as insurers seek voluntary benefit growth underpinned by successful digital and business transformation
Majesco, a global provider of cloud insurance platform software, announced that it has completed the acquisition of ClaimVantage, a global provider of enterprise claims software as well as absence and accommodation management for the L&A market segment. The acquisition of ClaimVantage comes just three months after the Thoma Bravo acquisition of Majesco. It strengthens Majesco’s strategic vision as a premier provider of next generation insurance technology solutions that enable insurers to accelerate their digital transformation to meet tomorrow’s demands today.
“We’re excited to welcome ClaimVantage’s customers to our community and look forward to helping them build the future of their business,” commented Adam Elster, CEO of Majesco. “Our acquisition of ClaimVantage expands and complements our key strategic focus in the L&A market segment with both strategic and operational investments in the business and are reflected in the growing market recognition by industry analysts, new and expanding customers and broadening strategic partnerships. Together these enable us to partner with insurers to capture the market opportunities unfolding and accelerate their digital and business transformation and cloud journey.”
ClaimVantage is recognized as a top enterprise claims management solution for L&A and Group insurance market and a leader in Absence, Accommodation and Integrated Disability Management (IDAM) to meet operational and federal and state compliance leaves demands. In addition, many corporate organizations have an increasing need for absence and accommodation management that is not offered by their insurers. ClaimVantage provides a valuable, established enterprise claims solution with the market leading absence and accommodation management capabilities to meet the unique needs for disability income products for over 35 customers including insurers, TPAs and large employers.
“Since inception, ClaimVantage has been committed to building state-of-the-art, cloud-based solutions designed to transform the Life and Health claims insurance space, as well as absence management,” said Leo Corcoran, CEO of ClaimVantage. “With Majesco’s market and cloud strength, SaaS expertise, financial strength and growing leadership in the L&A and Group market, we will be able to deliver even greater value to our customers. We are excited to be joining the Majesco team and look forward to accelerating the industry transformation together.”
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