Case Study: IDBI Federal Life Insurance achieves rapid launch to profitability and 1M+ policies with Majesco

IDBI Federal Life Insurance - Customer Case Study

IDBI Federal Life Insurance (IFLI), a 2008 joint venture between IDBI and AGEAS, grew quickly to become a leading player in the Indian life insurance market. As a new, fast-scaling entrant, IFLI faced tight time-to-market pressures for new products, high distribution costs, and the need to standardize and optimize processes across the insurance value chain to support aggressive growth and a joint-venture operating model.

IFLI implemented Majesco Policy for L&A and Group as a single platform across quote-to-claim, with product-cloning, workflow and rules-based controls, and a 360° customer view; it later added Majesco Distribution Management and Majesco DigitalConnect for channel optimization and digital engagement. The solution enabled rapid product launches and scalable operations — IFLI became profitable within five years, grew to 1.69 million customers, processes over 1 million policies, supports an 80,000-agent distribution network, and achieved revenue exceeding INR 1,000 Cr.

IDBI Federal Life Insurance

Pankaj Pandey

Senior Vice President - IT