Majesco, a longtime player in insurance tech, wants insurers to know it’s not dabbling in artificial intelligence—it’s going all in. The company is showcasing its latest AI-driven policy, quote, and billing solutions this week at Celent’s GenAI Symposium in Chicago, a gathering ground for financial services firms trying to separate AI hype from actual utility.
The highlight: Majesco’s P&C Intelligent Core Suite, which now layers GenAI and “Agentic AI” (autonomous, task-driven AI) across policy and billing systems. The pitch is simple: automate the grunt work, deliver real-time insights, and give underwriters, agents, and customer-facing staff more time for higher-value tasks. Majesco claims the upgrades can slash expenses, accelerate decision-making, and—every insurer’s holy grail—improve customer experience.
Why It Matters
The insurance industry has always had a love-hate relationship with technology. Legacy systems and regulatory baggage make modernization slow. But with AI heating up across every corner of financial services, carriers can’t afford to wait. Rivals like Guidewire and Duck Creek have been embedding AI into their core platforms, but Majesco is leaning into a more “AI-native” identity, betting that insurers want tech that doesn’t just bolt AI on but bakes it into the workflow.
Jason Long, VP of Product Management, didn’t mince words: “Majesco isn’t just exploring AI – we are leading and setting the standard for how it’s used in core insurance solutions.” With more than two years of product releases already in play, Long argues the company has moved past the pilot phase and into enterprise-ready deployment.
Market Credibility
It’s not just talk. Majesco was recently named “Most Valuable Pioneer in AI Maturity” for both Life & Annuity/Health (L&AH) and Property & Casualty (P&C) platforms by QKS, and it secured a place on the AIFinTech100 list—a nod to the company’s early work with GenAI and Agentic AI. Those accolades matter in a market where buyers are skeptical of vaporware.
The Big Picture
For insurers, the calculus is clear: adopting AI at scale could be the difference between faster claims cycles and ballooning costs. With consumer expectations shaped by Amazon-like efficiency, insurers that cling to manual processes risk obsolescence. Majesco’s bet is that embedding AI into everyday policy and billing tasks—rather than just analytics or customer chatbots—will be a competitive differentiator.
The live demos at the symposium may be brief (a tidy 10 minutes each), but they signal Majesco’s ambition to set the pace in a sector finally waking up to AI’s potential. Whether carriers buy in en masse remains to be seen, but one thing’s certain: insurance tech is no longer boring.
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