Majesco, a cloud insurance software provider for the insurance business, announced it has acquired the Decision Research Corporation (DRC) business.
DRC, based in Philadelphia-based, is an SaaS-based insurance software company. It offers enterprise rating for large insurers, a reinsurance product, and core platforms for the managing general underwriter/agency (MGA/MGU) market.
Majesco said it will add more than 20 P/C insurance industry customers as a result of the transaction.
The DRC enterprise rating engine externalizes the rates, rules, and logic associated with rating to work with multiple policy systems. Majesco said it will integrate the DRC rating product with Majesco Policy for P/C and will continue to integrate with other policy solutions as needed by customers.
Majesco noted that the P/C segment continues to see rapid growth in the MGA/MGU market, as they select core platforms that meet the hybrid needs of both an insurer and MGA. The DRC core platform is specifically built to address these unique needs including out of the box capabilities and integration for business placement into the Lloyds’ and London market.
New Jersey-based Majesco serves life and health insurance industry as well as property/casualty. Majesco says 350 insurers, from start-ups to some of the world’s largest insurers, use its SaaS platforms and ecosystem.
Topics Mergers & Acquisitions
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