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Majesco company logo
Corporation
COMPUTER HARDWARE & SERVICES | IT Services / IT Solutions & Software Development
majesco.com

Funds

1

Partners & Customers

10

Service Providers

3

About Majesco

Majesco (NASDAQ: MJCO) is a provider of core insurance technology software and IT services to carriers worldwide. Majesco delivers solutions and IT services in core insurance areas including policy administration, billing, claims and distribution. The company was founded in 1982 and is based in Morristown, New Jersey.

Headquarters Location

412 Mount Kemble Avenue Suite 110c

Morristown, New Jersey, 07960,

United States

+1 973 461 5200

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Research containing Majesco

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Majesco in 4 CB Insights research briefs, most recently on Aug 7, 2023.

Latest Majesco News

Majesco identifies new drivers of change in auto insurance market

Nov 2, 2023

Reinsurance News Cloud insurance software solution for the insurance business, Majesco, in its report “Bridging the Customer Expectation Gap for Auto Insurance,” has given an intricate view of the rapidly changing forces impacting the property and casualty industry’s largest line of business, commercial and personal. The shifting ownership, usage, risk and claims costs for vehicles along with increased vehicle technologies and innovation, are driving increased costs of vehicle ownership and insurance premiums, says the report. Majesco states that the combination of heavy losses, shifting customer behaviours and expectations, and new automotive technology is driving significant change that insurers must embrace quickly to compete. Denise Garth, Chief Strategy Officer at Majesco, commented: “The industry status quo for auto insurance is rapidly eroding. Auto insurers must reimagine the scope of what they will offer to customers – an experience with a personalized risk product, value-added services that are part of a broader mobility ecosystem, access through broader channels, and a compelling customer experience. This is where exciting new business opportunities await.” According to the report, insurers must learn to redefine and innovate auto insurance products. The changes to vehicles and their use must push insurers to rethink traditional auto insurance products and leverage new data, value-added services, partners, and technologies to meet shifting customer needs and behaviours. Another key driver in auto insurance change is data, which has also caused some disruption. Driven by IoT and telematics data coming from autonomous vehicles, rideshare apps and more, the shift to “real-time” data and continuous underwriting has caused new leaders to emerge. Share this:

Majesco Acquisitions

8 Acquisitions

Majesco acquired 8 companies. Their latest acquisition was Global IQX on October 03, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

10/3/2022

$99M

Acquired

6

7/24/2021

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$99M

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10

5/20/2021

Debt

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$99M

$99M

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10

1/11/2021

Other

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$99M

$99M

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10

1/31/2020

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$99M

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10

Date

10/3/2022

7/24/2021

5/20/2021

1/11/2021

1/31/2020

Investment Stage

Debt

Other

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$99M

$99M

Note

Acquired

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Sources

6

10

10

10

10

Majesco Fund History

1 Fund History

Majesco has 1 fund, including Magic Topco.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Magic Topco

$9.77M

1

Closing Date

Fund

Magic Topco

Fund Type

Status

Amount

$9.77M

Sources

1

Majesco Partners & Customers

10 Partners and customers

Majesco has 10 strategic partners and customers. Majesco recently partnered with Microsoft Azure on September 9, 2023.

Date

Type

Business Partner

Country

News Snippet

Sources

9/5/2023

Vendor

United States

Majesco Strengthens Partnership With Microsoft, Empowering Customers With An Innovative And Scalable SaaS Insurance Platform

Majesco , a global leader in cloud insurance software solutions , and Microsoft Azure have announced a strategic alliance aimed at driving long-term digital transformation for insurers .

1

7/12/2023

Client

United States

Forge Insurance Selects Majesco P&C Core Suite and Majesco Digital Agent360 to Accelerate Innovation and Bring New Products to Market Quickly

MORRISTOWN , N.J. -- -- Majesco , a global leader of cloud insurance platform software for insurance business transformation , today announced Forge , a leading specialist commercial auto insurer in the small business segment , selects Majesco and Majesco to scale their business , accelerate innovation and bring new products to market quickly .

7

6/6/2023

Client

Germany

1

4/27/2023

Client

United States

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10

4/26/2023

Licensor

United States

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10

Date

9/5/2023

7/12/2023

6/6/2023

4/27/2023

4/26/2023

Type

Vendor

Client

Client

Client

Licensor

Business Partner

Country

United States

United States

Germany

United States

United States

News Snippet

Majesco Strengthens Partnership With Microsoft, Empowering Customers With An Innovative And Scalable SaaS Insurance Platform

Majesco , a global leader in cloud insurance software solutions , and Microsoft Azure have announced a strategic alliance aimed at driving long-term digital transformation for insurers .

Forge Insurance Selects Majesco P&C Core Suite and Majesco Digital Agent360 to Accelerate Innovation and Bring New Products to Market Quickly

MORRISTOWN , N.J. -- -- Majesco , a global leader of cloud insurance platform software for insurance business transformation , today announced Forge , a leading specialist commercial auto insurer in the small business segment , selects Majesco and Majesco to scale their business , accelerate innovation and bring new products to market quickly .

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Sources

1

7

1

10

10

Majesco Service Providers

3 Service Providers

Majesco has 3 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Acquired

Other

Financial Advisor

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Service Provider

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Associated Rounds

Acquired

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Provider Type

Other

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Service Type

Financial Advisor

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Partnership data by VentureSource

Majesco Team

23 Team Members

Majesco has 23 team members, including current Chief Executive Officer, Adam Elster.

Name

Work History

Title

Status

Adam Elster

Chief Executive Officer

Current

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Name

Adam Elster

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Work History

Title

Chief Executive Officer

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Status

Current

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Duck Creek Technologies offers intelligent solutions for the property and casualty insurance industry. The company's main offerings include policy lifecycle administration, a rating engine, insurance billing software, insurance claims software, and a variety of digital engagement tools. Its product portfolio includes distribution management, reinsurance management, digital management, data insights, and other services. It primarily serves the insurance sector. The company was founded in 2000 and is based in Boston, Massachusetts.

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Socotra

Socotra operates as a company providing technology solutions in the insurance industry. The company offers a range of products that help insurers accelerate product development, reduce maintenance costs, and improve customer experiences. It primarily serves the insurance industry. It was founded in 2014 and is based in San Francisco, California.

S
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eBaoTech

eBaoTech delivers standards-based insurance software solutions to both property and casualty (P&C) and life insurers. Its end-to-end suite of product offerings-including sales and distribution, policy administration, claims management, and reinsurance modules-is highly flexible and configurable, enabling insurers to speedily launch new insurance products and sales channels and run highly automated operations.

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EIS Group

EIS Group is a technology innovator that operates in the insurance industry. The company provides a digital insurance platform that enables insurers to digitize their core operations, create essential data foundations, and deliver customer experiences. Its primary customers are insurance carriers. It was founded in 2006 and is based in San Francisco, California.

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Instanda

Instanda offers a no-code product design platform. It provides a management tool that empowers insurers, brokers, and managing general agents (MGAs) to build and launch insurance products and then distribute and self­-manage them online. Instanda was founded in 2012 and is based in London, United Kingdom.

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