Munich Re partners with Majesco for transformative insurance platform

majesco-munich-re-transformative-insurance platform

Majesco, an international front-runner in cloud insurance platform software, and Munich Re Specialty Group North America (MRSGNA), part of global reinsurance provider Munich Re, have announced their collaboration.

Majesco, renowned for its work in insurance business transformation, offers innovative solutions that enable insurers to streamline their operations, enhance customer experiences and drive growth. On the other hand, MRSGNA, a subsidiary of one of the world’s leading providers of reinsurance and insurance-related risk solutions, Munich Re, provides specialty insurance via two separate entities, Munich Re Specialty Group Insurance Services, Inc. and Roanoke Insurance Group Inc.

The primary driver behind this partnership is the desire to enable a new operating model that will support various specialty lines of business including Inland Marine, Cyber, Terrorism, and Ocean Marine. The strategic alliance leverages the Majesco P&C Intelligent Core Suite on Majesco Cloud platform, aiming to revolutionise the way insurance business is conducted.

Majesco specialises in creating innovative cloud-based platforms that empower insurers to expedite agility, innovation, and scalability of their business. MRSGNA, on the other hand, is widely recognised for its distinctive approach to offering a broad spectrum of insurance services. The team-up will result in the adoption of best practices that will enhance operational effectiveness, growth, and profitability as the market evolves.

Majesco’s P&C Intelligent Core Suite offers advanced technology solutions, including AI, ML, NLP, APIs, and automation, enabling customers to thrive in a rapidly changing digital marketplace. Meanwhile, MRSGNA is charting new territory in the insurance sector, redefining its boundaries by leveraging the best practices and scalable solutions that this partnership provides.

MRSGNA chief operating officer Chris Skowronski said, “We are thrilled to offer our customers next-gen experiences and products on our new insurance platform across the entire operation… The MRSGNA and Majesco teams share a forward-thinking mindset that allowed us to extend capabilities and introduce new products quickly.”

Adam Elster, CEO of Majesco, echoed these sentiments, stating, “We are excited to be partnering with MRSGNA to enable their new operating model with Majesco solutions… We are proud to partner with an organisation that is forward-thinking and committed to investing in next-gen solutions and innovation.”

To delve deeper into the collaboration, the podcast ‘Building the Foundation First with an Eye to Customer’, featuring Denise Garth and Chris Skowronski, offers more insights.

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