Majesco has revolutionized the Insurance Industry beyond leaps and bounds by its innovative ideas and now the company is set to acquire ClaimVantage an international company that is a leading provider of life and health claim management software and absence & accommodation management for L&A market segment.
The acquisition of ClaimVantage seems to be a deliberate move to empower Majesco’s vision to provide digital capabilities to their insured. This happened three months after Thoma Bravo acquired Majesco.
“This is a win-win-win move for both Majesco and ClaimVantage, positioning them well to meet the needs of a rapidly evolving industry,” commented Rob McIsaac, EVP of Research and Consulting and practice leader for life/annuity/benefits at Novarica.
He further added, “Enterprise claims opportunities are both increasing and coming “down market” to meet the expanded demand for disability income and other ancillary products as part of voluntary benefits offerings. This comes in concert with a growing need for robust absence management capabilities to address a broadening array of state-level requirements, playing directly to a strength of ClaimVantage. Majesco’s financial strength, recognized leadership position for policy administration, coupled with ClaimVantage solutions, provides group and voluntary benefits insurers with a solution set where the merged entities will be stronger and more compelling than just the sum of the parts”.
To keep up with the needs of the people buying insurance the L&A industry need to make great progress and it is only possible when companies like Majesco and ClaimVantage come together to work for the greater good and provide for the betterment of people.
