Majesco, a provider of core insurance software, consulting, and services, is partnering with Life.io, a digital consumer engagement platform, to help insurers relate to their customers through monitoring and analyzing their behavior, preferences and more through real-time data integration.
Life.io helps insurers gain insight to help them offer the right product at the right time based on their customers' life stages. The Life.io platform integrates with new technologies such as wearables and health applications to provide new sources of data to understand, assess, underwrite and service customers, encouraging healthy lifestyles while improving insurers’ operational and risk management results.
As a part of this partnership, the two companies are integrating Life.io's Consumer Engagement platform into Majesco DigitalConnect and Majesco's core systems software to enhance the user-experience, improve risk management, and support smarter selling and marketing of life insurance to consumers throughout their life stages. The Majesco DigitalConnect platform enables insurers to integrate new and innovative content, data, and collaboration capabilities together.
"Life insurers are starting to recognize that in many cases their only customer engagement is around financial transactions such as a bill or a loan. New engagement models are required to meet the needs of both their existing and future customers, recognizing the need for a unique, compelling customer experience that actually provides the customer with value, not just a bill or marketing material," said Chad Hersh, executive vice president of the L&A and Group Business at Majesco, in a statement. "The combination of Majesco DigitalConnect pre-integrated with Majesco Policy for L&A and Group together with Life.io creates a compelling platform for insurers to meet a fast-changing market. We are excited about the partnership and what it will offer the industry and our customers."
"Life.io is changing the way insurance carriers engage with policyholders. Helping our clients build relationships through targeted and meaningful interactions, delivering the right products and messages, to the right individuals at the right time, and creating brand affinity in an industry where only one in five policyholders can name their carrier," said Mike Logsdon, chief operating officer and co-founder of Life.io, in a statement. "The integration with Majesco's DigitalConnect takes our policyholder engagement to a new level. I am excited about the global partnership and the opportunity we have moving forward."