Infosys has entered into a partnership with New Jersey based cloud insurance software solutions provider Majesco to enable insurance companies to aid in digital adoption and transformation across the insurance value chain.
The Bengaluru based information technology (IT) services company will work with Majesco to help clients with digital processes across areas such as life and annuity (L&A), group insurance, and property and casualty (P&C), it said in a statement on Tuesday.
“Insurers must optimize today’s business and create the future business to substantially increase their potential for success. Majesco’s and Infosys’ collaboration will help our joint customers accelerate their transformation and their path to the future of insurance,” Majesco CEO Ed Ossie Majesco said.
The collaboration will give Infosys access to Majesco’s next-generation suite of solutions including the Majesco L&A and Group Core Suite, Majesco P&C Core Suite, and Majesco Digital1st® Insurance on Majesco CloudInsurer.
“In the new normal, insurers are exploring ways to offer hyper-personalized experiences and innovative coverage to acquire and retain customers. A few critical factors to realize these goals are faster time-to-market, flexible products with better configurability, integration with cloud hyperscalers and effective operations,” Mohit Joshi, president, Infosys, said.
Last week, Infosys struck a deal with the British soft drinks company Britvic to accelerate its digital transformation journey.
In its fourth quarter ended March 2021 for the financial year 2020-2021, Infosys reported a record total contract value (TCV) of $2.1 billion. The TCV for the entire fiscal stood at $14 billion. Of this, $9.4 billion was contributed by new deals.