Case Study: International Insurance Providing Company achieves 40% faster new-business processing and streamlined operations with Majesco Policy & Distribution Management

Transformational Program for Conventional and Takaful Businesses

An international insurer of Conventional and Takaful products with 20,000+ agents, 30 insurance and Takaful branches and 450+ bank branches faced fragmented legacy systems inherited through mergers and acquisitions. The company needed a standardized, flexible platform to support Individual and Group Life products and a new distribution management system to manage rapid agent growth, reduce maintenance costs and improve operational efficiency.

The insurer partnered with Majesco to deploy Majesco Policy for L&A and Group and Majesco Distribution Management, using straight-through processing and comprehensive policy, billing, claims, reinsurance and distribution capabilities while consolidating M&A portfolios. The solution delivered 150+ integrations, cut time-to-market for new products from months to weeks, reduced maintenance costs, handled peaks of 2,000 proposals/day and 10,000 member uploads/day, and improved new-business processing time by about 40% (from ~20–25 minutes to ~12–15 minutes).