Majesco Announces Launch of Insight Driven Underwriting Workbench - Majesco Digital Underwriter360 for P&C

Majesco | September 03, 2021

Majesco Announces Launch of Insight Driven Underwriting Workbench - Majesco Digital Underwriter360 for P&C
Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced the launch of Majesco Digital Underwriter360 for P&C, a next-gen insight driven underwriting workbench for commercial and specialty lines. Majesco Digital Underwiter360, powered by Majesco Digital1st® Insurance is an intelligent, insight-driven cloud-native SaaS, that enhances underwriting efficiency and profitability, drives underwriter productivity and profitability, and creates greater transparency and collaboration with brokers.

“In order for insurers to elevate the customer experience, they must make the underwriting processes more efficient, profitable and responsive,” says Manish Shah, President and Chief Product Officer for Majesco. “Built on Majesco Digital1st® Insurance no code/low code platform, Majesco Digital Underwriter360, leverages today’s leading technology to increase efficiencies and effectiveness, maximize underwriter’s expertise and improves collaboration between underwriters and brokers. Our relationship with KPMG to develop and deliver another next-gen digital solution built with the customer in mind brings a new level of innovation and capability to the industry.”

SMA research highlights the expectations of insurance executives regarding the magnitude of changes coming… 80% of insurance executives expect underwriting to be significantly different than it is today within 5 years and 94% expecting significant change in 10 years. The expected changes expose the gaps between today’s capabilities and those required in the future and which Majesco Digital Underwriter360 addresses.

"The potential for underwriting transformation in P&C is tremendous,” stated Deb Smallwood, Senior Partner at Strategy Meets Action. “Our research indicates significant recognition that this will take a new solution and set of technologies separate from policy management solutions. To make this great leap forward, insurers need new thinking on roles and processes coupled with a new digital platform that is advanced beyond the portals and workbenches of the past. Majesco Digital Underwriter360 represents an innovative new solution that will help revolutionize underwriting.”

Majesco engaged KPMG LLP in the experience centric design and development of the solution using Majesco Digital1st® Insurance, a no code / low code platform with robust insurance content. This new, innovative solution focuses on better insights, increased productivity, and driving more seamless interactions for the underwriter.

Some of the key capabilities include:
  • Insight driven: Multi-level risk view, across the portfolio and line of business for digitally optimized risk assessment and management.
  • Just in time, relevant information: Data and information pushed to the underwriter’s fingertips at the exact moment they need it to optimize underwriting.
  • Intelligent data ingestion and extraction: Refine rules and leverage technologies like AI to collect, automate and analyze the data to provide a full picture of the exposures for a given submission.
  • Portfolio Optimization: Prioritize, assess, and reinforce risk appetite across the portfolio of business through the use of data and a holistic view of risk.
  • Broker Collaboration: Increased and predictable collaboration between broker/agent and underwriter creating full transparency and speed for quote.
  • Streamline underwriter workflow and improve risk assessment: Automated, efficient workflow, routing and case management capabilities to optimize underwriting and improve risk assessment leading to better outcomes.
  • Automated data prefills: Using a growing array of structured and unstructured data sources from InsurTech and traditional third-party data providers to optimize the underwriting process and maximize underwriter’s knowledge.
  • Underwriting control and oversight: Using authority management to monitor and manage underwriting limits, risks and more to align to company guidelines and strategy.
  • Core Integration: Pre-integrated with Majesco Core Suite for P&C and can easily be integrated with any other core solutions.

“We're seeing a lot of activity in digital underwriting as a lynchpin component of modernization and transformation efforts,” stated Jeanne Johnson, Principal at KPMG LLP. “Leveraging a platform solution that connects insights across the underwriter’s interactions, and more easily integrates a rich mix of relevant data offers a path to more sustained value. Productive data, alongside digital enablement, machine learning, and Underwriter360, can address some longstanding pain points to better equip the underwriter talent - to better segment, predict, service, and deliver profitable growth that will continue to be a competitive differentiator.”

As insurers continue to adopt the latest digital technologies, tedious and time-consuming underwriting processes still make it difficult to quickly respond to customer needs and expectations. Without a holistic and unified view, underwriters cannot access risk information to facilitate quick and calculated underwriting management. Majesco Digital Underwriter360, digitally enables technology and data proliferation that transforms how underwriters collect risk data, analyze it, perform multi-level risk assessment, and make decisions resulting in reduction of underwriter’s administrative workload.

The increased efficiency and effectiveness in the underwriting process enables underwriters more time to be utilized in making key decisions and increase collaboration with distributors as opposed to spending time in core processes due to technologically challenged systems. It delivers a profitable underwriter process through centralized digital solutions that provide aggregation and mediation of business as well as system services, so underwriters don’t have to depend on multiple sources of disparate data. Underwriter360 is currently available for commercial and specialty lines with other lines of business to be considered in the future.

About Majesco
Majesco is the leading software partner to both the P&C and L&A insurance markets to modernize, optimize and innovate their businesses at speed and scale. Over 330 insurers, from greenfields, start-ups and MGAs to the largest insurers, reinsurers and brokers use Majesco’s next generation SaaS platform solutions of core, data and analytics, digital, distribution, absence management and a rich ecosystem marketplace of established and InsurTech partners to build the future of insurance. Our technology, expertise and leadership help insurers innovate and connect to build the future of their business. With over 825 successful implementations and over 65% of our customers on Cloud with Majesco platform solutions, together we have an amazing track record of innovation and real-world results.


This report is one of three that the Institute for Government is releasing as part of its research into policy making in government. It provides both an in-depth look at attempts to reform policy making over the last fourteen years and draws on both interviews with senior civil servants and ministers, in the last government, to look at the experience of policy making.

Related News


DECK 7 | March 23, 2020

Since the implementation of Data Protection Act in 2018, the approach behind the use of data has changed dramatically. Our clients and customers don’t just want a great experience, they also want to make sure they can trust us. Tweet This! And it makes perfect sense in the present time and space. But as data is considered a key factor in positive customer experience, the U.S. brands and agencies have found it to be increasingly complicated to earn customer trust while remaining compliant. In an article by John Snyder, CEO at Grapeshot, for Adexchanger, he says that the GDPR will remove 75% of third-party data and what’s left will be more expensive. This has caused the power dynamic between brands and agencies to evolve over time.

Read More


Quility Launches Fully Digital Term Life Product, Quility Level Term, in Collaboration With SBLI and Afficiency

Afficiency | September 22, 2021

Quility Insurance, a digital platform offering financial solutions through an online application or support from a licensed insurance agent, announced the launch of its new proprietary product, Quility Level Term. The company launched the level term product in collaboration with Afficiency, a startup that designs, builds, and delivers life insurance via API, and SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts). Through Afficiency's digital infrastructure and SBLI's tech-driven insurance product offerings, Quility Level Term offers clients a simple, personalized policy with an entirely digital application and purchase process. Clients can apply online from the comfort of home and receive their new policy in just minutes. SBLI is very happy to expand on our product and distribution offers for our customers through this valuable partnership. This collaboration supports digital initiatives to continue offering an accessible and seamless life insurance application process. - Denis Clifford, SVP of Sales & Distribution at SBLI. The simplified issue product provides a 100% digital experience with no medical exam necessary to qualify for coverage and an on-the-spot decision in minutes. Quility Level Term provides a maximum coverage amount of $1 million with level premiums throughout the policy term. Included within the policy at no additional cost is a charity rider that allows the client to select a charity of their choice as an additional beneficiary of their policy. Licensed life insurance agents can sell the Quility Level Term product to their clients directly by applying with the client in real time through the digital platform. Through this digitized application process, Quility clients will receive an instant decision and obtain coverage that meets their needs at an affordable price. The Quility Level Term product provides a significant value-add to the Quility agent through its streamlined application process. At Afficiency, our goal is to modernize the life insurance process for the customer, and this bespoke product aligns not only with our goals, but also with Quility's mission to deliver simple, customized solutions to clients. - Mark Scafaro, Co-Founder and CEO of Afficiency. Backed by thousands of licensed insurance agents nationwide and access to over 80 insurance carriers, Quility provides clients with convenient access to expert advice and support. Quility's sales divisions include Symmetry Financial Group, Asurea Insurance Services, and Quility Wholesale. About Quility Quility uses innovative and proprietary technology to modernize the process of qualifying for and purchasing life insurance. The Quility digital platform offers clients the option to apply for life insurance online through a ten-minute application with the support of a licensed insurance agent. About SBLI For over 115 years, SBLI has specialized in providing hassle-free, affordable life insurance. Whether it be term life, whole life or a plan that combines the two, we offer simple, dependable protection at a fair price. About Afficiency Afficiency is an insurtech company making life insurance easier to understand and purchase. Afficiency developed a digital life insurance platform that allows new products to be quickly stood-up and made available for digital distribution, completely via API. All Afficiency's life insurance products are designed to be digitally underwritten and issued within seconds. Afficiency has been partnering with carriers and re-insurers since late 2018 to bring products to market. The team has also been working with some traditional and new distribution channels to deliver these products.

Read More


Sedgwick acquires Temporary Accommodations

Sedgwick | November 22, 2021

Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, announced it has acquired Temporary Accommodations, which provides high-quality, temporary housing and related services to displaced policyholders. As part of this strategic transaction, Temporary Accommodations joins Sedgwick's property Americas division and further builds on the company's end-to-end claims services from intake to field adjusting to temporary housing to building repairs, with solutions that enable insurers to fully support their policyholders. Founded in 1996 and headquartered in Atlanta, Temporary Accommodations locates temporary housing options for displaced insurance policyholders and helps to manage additional living expenses during home insurance claims following fire, water, wind and storm damage and emergency evacuations. As one of the largest providers of claims-related housing services, Temporary Accommodations focuses on cost management and stress reduction for a better customer experience, negotiating preferential housing and hotel rates and reducing insurers' indemnity spend. "The Temporary Accommodations team is well-known by insurance professionals and homeowners for their dedication to service and solutions for displaced homeowners, They are often on the front lines when disaster strikes, providing care and comfort to displaced families. Temporary Accommodations is a natural fit with the Sedgwick team, and joining forces will allow us to work together to support the entire claims journey and recovery process. We look forward to this partnership and to providing clients with end-to-end property claims solutions." - Steve Powell, Sedgwick executive vice president. "Our company grew from humble entrepreneurial roots into one of the largest providers of temporary housing services in the insurance space. Joining an industry leader like Sedgwick will take our work to the next level, Moreover, our 'TA cares' motto perfectly aligns with Sedgwick's 'caring counts' philosophy. TA's mission has always been to operate with unsurpassed empathy, integrity, service and attention to detail, and we will continue to do so as part of the Sedgwick family." - Aaron Wilson, founder, president and CEO of Temporary Accommodations. About Sedgwick Sedgwick is a leading global provider of technology-enabled risk, benefits and integrated business solutions. The company provides a broad range of resources tailored to our clients' specific needs in casualty, property, marine, benefits, brand protection and other lines. At Sedgwick, caring counts; through the dedication and expertise of more than 27,000 colleagues across 65 countries, the company takes care of people and organizations by mitigating and reducing risks and losses, promoting health and productivity, protecting brand reputations, and containing costs that can impact the bottom line. Sedgwick's majority shareholder is The Carlyle Group; Stone Point Capital LLC, Caisse de dépôt et placement du Québec (CDPQ), Onex and other management investors are minority shareholders.

Read More


This report is one of three that the Institute for Government is releasing as part of its research into policy making in government. It provides both an in-depth look at attempts to reform policy making over the last fourteen years and draws on both interviews with senior civil servants and ministers, in the last government, to look at the experience of policy making.