Majesco climbs 12% on launching two insurance solutions

NEW DELHI: Shares of Majesco shot up over 12 per cent in Wednesday’s trade after its US-based insurance arm Majesco, USA, launched two new solutions, Majesco Enterprise Data Model and Majesco Enterprise Data Warehouse.

Following the announcement, the stock soared 11.58 per cent to hit a high of Rs 383 on BSE. At this price, the stock trades at 3.12 times its book value.

"The data solutions are expected to help insurers accelerate their data journey and organisational agility," commented Manish Shah, EVP of Products for Majesco.

"These solutions, covering all areas of insurance, provide capabilities to insurers for rapidly integrating with existing systems or pull new systems into current IT ecosystems, a better control over compliance and governance needs and importantly provide new and deeper insights through analytics."

The solutions along with Majesco Data Services and Majesco Business Analytics will provide a framework and assets that will accelerate insurers’ data mastery maturity, help in business differentiation and optimization, the company claimed.