Majesco Consolidating Insurance Software Business in India

Majesco (NASDAQ: MJCO), a provider of cloud insurance technology, is acquiring the India based insurance software business from its parent company, Majesco Limited.

“The acquisition of the India Business and consolidation under the operating entity will ensure sharper focus on our global solutions and capabilities, enabling us to deploy best practices and achieve operational synergies,” said Majesco CEO Adam Elster.

“We view this acquisition as part of Majesco’s vision to build the future for insurance and look forward to maximizing our potential as a leading digital transformation player. Majesco’s strength, coupled with its complementary suite of innovative digital solutions and deep insurance industry expertise, means we can offer a wider selection of solutions to new and existing clients and provide greater career opportunities for our committed team,” said Adam Elster.

The business will be acquired by Majesco’s 100% subsidiary in India, Majesco Software Solutions India Private Limited (MSSIPL), is subject to statutory approvals including approval of the shareholders of Majesco Limited and shall be effective from April 1, 2019.

Majesco’s solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI / analytics, predictive modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more.