Majesco to buy cloud-native pension software provider Vitech

Majesco has reached an statement to get Vitech, a specializer successful cloud-native bundle for pension and benefits administration.

Financial presumption of the woody stay undisclosed.

The acquisition is intended to heighten exertion capabilities successful Majesco’s Group & Benefits and Retirement & Pension units, expanding its beingness successful these marketplace segments.

After combining operations, Majesco volition service much than 375 customers. This includes much than 100 customers successful the beingness and annuities and wellness (L&AH) conception and implicit 275 crossed the spot and casualty (P&C) segment.

The expanded merchandise acceptable volition code the requirements of insurers moving successful some P&C and L&AH.

Currently, much than 40% of insurers are progressive successful some sectors.

Vitech CEO James Ousley said: “The agreed squad volition bring the talent, extended knowledge, marketplace acquisition and innovative solutions important for insurers’ profitable growth.”

Majesco is portion of Thoma Bravo’s portfolio, portion Vitech is backed by CVC, a backstage markets concern firm.

As portion of this acquisition, CVC Funds volition instrumentality a number involvement successful Majesco to enactment the maturation and further improvement of the combined business.

The integration volition bring unneurotic established L&AH-focused products specified arsenic IDAM, L&AH Intelligent Core, Intelligent Sales and Underwriting, V3locity Core and Campaign Management, arsenic good arsenic integer portals.

These solutions people lawsuit needs successful the US, Canada and UK.

The associated offering aims to streamline operations, enactment faster launches of caller products, amended productivity and let adaptation to marketplace and regulatory changes.

Majesco CEO Adam Elster said: “We are thrilled to bring unneurotic the pre-eminent exertion solutions successful the Group & Benefits and Retirement & Pension sectors, which volition assistance the L&AH segment, and our customers fast-track their growth, operational efficiencies, innovation and lawsuit excellence strategies.

“Together with our P&C intelligent solutions, we volition fortify our offering of cutting-edge, intelligent and market-leading solutions that redefine businesses for a caller epoch of insurance.”

"Majesco to bargain cloud-native pension bundle supplier Vitech " was primitively created and published by Life Insurance International, a GlobalData owned brand.

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