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Strengthen your P&C core with these 12 cool features



It's officially holiday season. Wherever you go, you will hear Christmas carols and one we all know – whether you celebrate the holiday or not – is 12 days of Christmas . You know, the one about Two Turtle Doves, Seven Swans-a-Swimming and Eleven Pipers Piping. The 12 days of Christmas, in fact, are from December 25 to January 6 – the twelfth night, usually celebrated on January 5 th was a time of celebration and in some cultures (French and Spanish) this was made with King & # 39 ;s Cake – a coffee cake with purple, green and yellow icing. In Western cultures, King & # 39 ;s Cake now represents and celebrates one of my favorite events, Mardi Gras, but I deviate [1

] …

The Christmas carol, 12 Days of Christmas, is a holiday favorite. And to be part of celebrating the most wonderful time of the year, we wanted to make our own version of 12 Days by highlighting the 12 best things from our latest release, Version 12 for the Majesco P&C Core Suite.

Today's insurance executives replace their old or modern core in place with the next generation of SaaS core platforms that are digital, cloud, API, microservices and AI / ML enabled, reflecting a major technology shift. It's all about an intelligent core . And that is to not only remain competitive but stay one step ahead.

This next-generation SaaS core platform provides broader digital, data and core capabilities to optimize its operations, but also accelerate the innovation of new business models, products, services, channels and more, to quickly meet the ever-changing market and customer requirements. This platform provides access to a robust ecosystem of partners – technology, data, digital and channels – to further innovate, easily and seamlessly. And more importantly, the seamless, automated, and frequent upgrades of content and software to keep businesses up to date cost-effectively and at the forefront.

Here are the 12 days – or highlights of this issue: [19659006] Cutting Edge Self-Serve Bureau Adoptions – Commercial Lines and Workers & # 39; Compensation insurers now have a cutting-edge ability to stay up to date with the latest prices, rules and forms to stay compliant with regulatory changes and ISO, NCCI and other agency content. The innovative self-service capability enables simplicity, independence, consistency and efficiency through a guide-based adoption process while providing an automated adoption option to update the Majesco Policy for P&C with the circular without manual user intervention.

  • Next Gen Customer Experience. – Digital Customer360 for P&C is pre-integrated with the Majesco P&C core and offers a holistic, seamless and compelling experience across policy, invoicing and claims – a change from the typical transaction experience to a true customer experience.
  • Next Gen Underwriting Workbench – Digital Underwriter360 for P&C is pre-integrated with Majesco P&C Core, which provides an insight-driven issue guarantee that improves the issue guarantee and profitability, drives the insurer's productivity and creates great collaboration with brokers. 19659007] Embedded Intelligence – Signals, an advanced analytics feature of Majesco Business Analytics (MBA), is fully pre-integrated with Majesco P&C Core Suite. By leveraging robust machine learning capabilities, it provides the ability to detect patterns, extremes, trend changes and other business events that generate automatic alerts and notifications to Underwriters and Claim Adjusters for further investigation. The embedded analytics enhances end-user efficiency with insight learning and contextual analytics using natural language explanations and data visualizations. advanced invoicing options, including collection of estimated and deferred versus billable premiums, roll-over of deposits and deposits, retrospective audits, paid and incurred losses, large third-party deductibles, dividends and more.
  • Enriched automatic reconciliation and balancing – A new function for Majesco Billing for P&C that automatically adjusts the sample balance, including general ledger flows daily, while providing automatic alerts to specific users with precise details in case deviations that provide increased visibility for accounting and finance.
  • Container zation. and automatic scaling – Majesco P&C Core Suite has been redesigned as Docker images, orchestrated with Kubernetes and distributed as Helm charts that allow insurers to run on any cloud to provide portability, agility, speed to market and easy environmental consistency management for companies that accelerate their business transformation on the cloud.
  • Enhanced data privacy and security – Majesco P&C Core Suite is "Veracode Verified" with the "Veracode Standard" certification. Majesco P&C Core Suite follows conventional best practices such as firewalls, Dynamic Application Security Testing including external certifications, but now with the "Veracode Standard" certification, addresses security at the software level through Static Application Security Testing.
  • Extended EcoExchange by Partners – Majesco EcoExchange is a next-generation partner ecosystem that uses third-party services for a true plug-and-play environment. It provides operators with pre-integrated opportunities with Majesco solutions to help digitize, optimize and renew insurance companies' business, customer and channel needs today and in the future. Majesco continues to focus on building partnerships to provide insurers with a robust EcoExchange of partners.
  • Expanding open APIs – New OAS 3.0 APIs and introduction of a "no code API framework" for rapid integration to enable and accelerate the digital transformation of insurance companies, a top strategic priority.
  • Containerization – Built as Docker images, orchestrated with Kubernetes and distributed as Helm charts that allow customers to run on any cloud infrastructure. With parallel-run validations, this transition is seamless – with no business interruptions – and requires no further testing or modification for operators.
  • Seamless, automated upgrades – With the seamless, automated upgrade already built, customers have one and the most cost-effective solution to keep them at the forefront.
  • Ready to rethink and strengthen your core? Do you want a platform to transform your business and renew yourself? Do you need a platform to create new products and services that are in demand by the market and your customers cost-effectively and quickly? Then look no further than Majesco P&C Core Suite!

    Wish you and yours a wonderful holiday! We are grateful to our community of customers and partners and look forward to working with you in 2022!

    Co-author:

    Terrence Clark, SVP & General Manager, P&C Products at Majesco
    Melis Carroll, VP, Product Marketing at Majesco


    [1] https://en.wikipedia.org/wiki/Twelve_Days_of_Christmas


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