Majesco (insurance software company)

Majesco
Public
Traded as NYSE MKT: MJCO
Industry Software
Headquarters Morristown, New Jersey, United States
Key people
 Ketan Mehta, CEO & Co-founder
Products
Services
Website www.majesco.com

Majesco (formerly MajescoMastek) is a multinational provider of insurance technology software, information technology services and consulting to insurance carriers worldwide across lines of business – property & casualty (general insurance), life, annuity, health, pensions, and group & worksite benefits insurance.

History

MajescoMastek, the U.S. subsidiary of global technology solutions provider Mastek was founded in 1992. In 2005, the firm acquired Entegram LLC, a Connecticut-based software company.[1] In 2007, it acquired Vector Insurance Services a technology solutions provider and third-party administrator that focuses on the North American life and annuity insurance industry.[2] Systems Task Group (STG) an IP-based enterprise solutions provider to the North American property and casualty (P&C) insurance industry was acquired in 2008.[3] In 2009, MajescoMastek entered the Canadian Market. SEG Software, LLC, a provider of policy administration systems covering individual and group life, health & annuity insurance products was acquired in 2010.[4]

In 2014, MajescoMastek demerged from Mastek consolidating all of its insurance business internationally under the new brand, Majesco.[5] Majesco acquired the consulting firm Agile Technologies in February 2015.[6] In December 2014, the firm announced the signing of an agreement to merge the business of Cover-All Technologies (NYSE MKT: COVR) with Majesco.[7]

References

  1. ↑ "MajescoMastek Acquires Connecticut Software Company". Businesswire.com. 2005-10-24. Retrieved 2014-01-29.
  2. ↑ "MajescoMastek Acquires Insurance-Focused IT Company". Businesswire.com. 2007-07-16. Retrieved 2014-01-29.
  3. ↑ "Mastek acquires STG for $29 mn". Business-standard.com. 2008-03-11. Retrieved 2014-01-29.
  4. ↑ Jennifer Morrell (2010-12-06). "MajescoMastek Acquires SEG Software". Insurancenetworking.com. Retrieved 2014-01-29.
  5. ↑ "MajescoMastek to Consolidate Global Insurance Technology Business". businesswire.com. 23 September 2014. Retrieved 1 July 2015.
  6. ↑ "Majesco Completes Acquisition of Insurance Business of Agile Technologies - Business Wire". businesswire.com. 11 February 2015. Retrieved 1 July 2015.
  7. ↑ "Majesco to merge with Cover-All Technologies; stocks up 20%". moneycontrol.com. Retrieved 1 July 2015.
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