Provides insurance industry stakeholders portability, agility, speed-to-market, and ease of environment management in a highly scalable and secure fashion to accelerate their path to the future of insurance
Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced cloud-native core containerization for Majesco P&C Core Suite and Majesco L&A and Group Core Suite to provide portability, agility, speed-to-market, and ease of environment consistency management for companies accelerating their business transformation on the cloud.
Majesco P&C Core Suite and Majesco L&A and Group Core Suite are built as Docker images, orchestrated using Kubernetes and deployed as Helm charts enabling customers to run on any Cloud infrastructure. With the first decomposition completed, Majesco will continue to assess the right balance of further decomposition into granular microservices based on customer and market driven demands. With parallel run validations, this transition is seamless – with no business interruptions – and requires no additional testing or change efforts for carriers.
“As an early proponent and provider of cloud, Majesco is dedicated to delivering cloud-native technologies to the insurance industry. Containerization of our core suite solutions is a testament to our commitment to deliver choice, flexibility, and relentless innovation to the insurance industry that meet the dynamically changing business and IT demands of today and tomorrow,” said Manish Shah, Chief Product Officer at Majesco. “As the industry accelerates their effort to modernize, optimize, and innovate their business, Majesco is leading the way by simplifying the challenges faced by companies by breaking down silos and empowering the industry to pursue a cloud-native agenda in our highly scalable and secure applications.”
With cloud-native core Containerization support, Majesco’s cloud operations will be more reliable, responsive, and secure. Additional benefits include:
- Consistency–-Enable consistency of deployments across all environments through same app deployment structure and infrastructure configurations.
- Dynamic Scalability – Dynamic adjustments to computing resources by automatically scaling to new nodes based on load for better ROI and operational readiness.
- Superior Availability – Separation of functionality across containers and monitor for problem detection and self-healing to deliver higher availability.
- Enhanced Security – Applications isolation from host and each other, Kubernetes secrets for provisioning passwords/keys and automatic app management and deployment provides enhanced security.
- Faster Deployment – Standardized docker images enable faster deployment of Majesco Apps as well as faster patching for host OS.
- Cloud Platform Agnostic – Abstraction from host OS, inherent feature of containerization makes app run on any cloud platform.
- Cost Effectiveness – Scaling of lightweight containers, auto-scaling and high degree of automation significantly reduce operating costs with horizontal scaling.
“The insurance industry has embraced the cloud for their core systems, but there is still a wide gap between a lift-and-shift approach and true cloud native infrastructure,” said Jeff Goldberg, EVP of Research and Consulting at Novarica. “To realize the full value of cloud adoption, insurers need systems that are made for scalable, rapid deployment, supported by ongoing updates, and that tie into a broader network of data providers and emerging solutions. The future of core systems looks less like insurers licensing a technology and more like them placing their insurance products into an ecosystem that allows them to focus on their differentiated business.”
Majesco was named a Leader in the October 2020 Magic Quadrant for P&C Core Insurance Platforms, North America and a Visionary in the August 2020 Magic Quadrant for Life Insurance Policy Administration Systems, North America. The company also received an XCelent award for Depth of Service in Celent’s Policy Administration Systems: North America Property Casualty Report, and named the Top “Best-in-Class” Vendor in the P&C Policy Administration Aite Matrix Report.