IBM, Majesco to offer cloud-based platform

IBM has announced a five-year partnership with insurance software provider Majesco, to jointly offer a new cognitive, cloud-based platform to help insurance carriers worldwide create new services on IBM Cloud.

The global partnership is intended to speed the development of new customer services with predictive data analytics and help insurance providers bring new solutions to their clients. It also becomes the first in what is expected to be a wave of industry partnerships under IBM’s recently announced Industry Platforms business. The new unit was formed to build open industry platforms and the first comprehensive “as a service” solutions designed from the ground up for individual industries.

The joint IBM and Majesco offering will also provide a secure, global incubator for insurance companies to develop and launch new cognitive products and services via the cloud for clients.

Majesco operates in eight countries in all regions of the world, including North America, Europe, Middle East and Asia, and will contribute advanced software to this offering for property and casualty insurance, general liability insurance, life, annuity, pensions and insurance that improves speed to market, customer retention and business processes while responding to regulatory changes.

IBM will contribute Watson and other cognitive application programming interfaces (APIs) that will run on IBM Cloud. This will allow insurance companies to better analyze, price and understand business risks using new data sources and add an engaging and personalized advisory interface to their services.