Majesco,
a global provider of core insurance software and consulting services for
insurance business transformation, has announced the launch of two new
solutions, Majesco Enterprise Data Model and Majesco Enterprise Data Warehouse.
These solutions along with Majesco Data Services and Majesco Business
Analytics, provide a framework and assets to create a path for insurers to
accelerate their data mastery maturity to achieve business differentiation and
optimization through data.
“The
launch of these new data solutions is designed to help insurers accelerate
their data journey and organizational agility,” commented Manish Shah, EVP of
Products for Majesco. “These solutions, covering all areas of insurance,
provide capabilities to insurers for rapidly integrating with existing systems
or pull new systems into current IT ecosystems, a better control over
compliance and governance needs and importantly provide new and deeper insights
through analytics.”
The
Majesco Enterprise Data Model is based on over 20 years of insurance
development and implementation for all lines of business for P&C and the
entire insurance value chain from the customer, distribution, policy, billing
and claims. It is implementation and platform independent. The model provides
the foundation for insurers to build a robust and flexible enterprise data
warehouse on any platform, including Hadoop. Majesco Enterprise Data Warehouse
provides the foundation to aggregate data into a single source which they can
trust.
The
Majesco Enterprise Data Warehouse is built on the Majesco Enterprise Data Model
enabling access to granular data. It is pre-integrated with the Majesco P&C
software portfolio including Majesco Policy for P&C, Majesco Billing,
Majesco Claim, Majesco Distribution Management and Majesco Business Analytics,
but can be used with other software solutions. It is built on a standard
Microsoft SQL Server BI Platform, enabling business users and insurers to be
100% self-sufficient.
It
includes a self-service business intelligence front-end for ease of business
use, social collaboration and includes 34 out-of-the-box operational reports
for historical reporting needs. It easily consumes disparate data sources from
core systems and third party providers to provide a rich set of data to help
insurers achieve optimization and differentiation with data in their business.
“Insurers
struggle with truly leveraging enterprise level with data due to inaccessible
data formats or a lack of trust in the underlying data quality and semantics,”
commented Martina Conlon, SVP at Novarica. “Insurance specific data solutions
like Majesco Enterprise Data Warehouse and Majesco Enterprise Data Model enable
carriers to aggregate their policy, billing and claims data into a powerful
single source which they can trust. This allows them to rapidly create the
crucial foundation for their data mastery journey.”
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