5th November 2023
In a move to accelerate transformation and reshape the insurance industry, Majesco has announced the launch of Majesco Copilot. This solution has been developed in collaboration with Microsoft, seamlessly incorporating their cutting-edge AI models through Microsoft’s Azure OpenAI Service into Majesco solutions for P&C and L&AH insurance.
Majesco Copilot harnesses the capabilities of Azure OpenAI Service to streamline processes, optimise data handling, and elevate the user experience, marking a significant advancement in the way insurance professionals interact with insurance software platforms.
Majesco Copilot promises transformative advantages, including:
Embedded Intelligence: Majesco Copilot acts as a dynamic digital assistant within Majesco products, facilitating user interactions across P&C and L&AH insurance offerings.
Majesco Copilot assists in deciphering complex policy details, addressing policy queries, generating correspondence, providing loss control guidance, proposing claims injury categorisations, and numerous other user-system interactions.
Introduced in the Fall '23 release, Majesco Copilot is an immersive GenAI solution with impactful use cases that boost productivity, enhance decision-making, and elevate the overall customer experience.
Copilot In Policy: Simplifies the comprehension of intricate policy details, streamlines correspondence, and accelerates routine tasks, including member summaries and dynamic dashboard visuals.
Copilot In Billing: Simplifies data retrieval, payment data requests, and other customer service inquiries related to billing.
Copilot In Claims: Enhances notetaking, correspondence drafting, and customer inquiries with AI-powered assistance.
Copilot In Loss Control: Empowers users with detailed risk recommendations by leveraging LLM capabilities combined with historical loss control data.
Majesco Copilot is firmly rooted in AI principles and Responsible AI Standards, developed based on the Microsoft 365 Copilot blueprint, showcasing Majesco's unwavering commitment to enterprise data security and privacy. Majesco Copilot sets a new standard by delivering enterprise-ready AI at scale for insurers, a pioneering achievement in the Core insurance platform market.
Patrick Davis, Majesco's svp & gm for Data & Analytics, remarked "This isn't just another product launch; it's a transformative moment for the insurance industry. Majesco is proud to bring a generative AI copilot to its users. Our collaboration with Microsoft exemplifies our dedication to delivering forward-thinking solutions for the industry."
Echoing this sentiment from the Microsoft side, Jim DeMarco, lead of Insurance Advisory, Americas at Microsoft stated,"We are delighted to collaborate closely with Majesco in creating Majesco Copilot. This collaboration exemplifies how powerful technologies can come together to create solutions that push boundaries. It further solidifies our relationship with Majesco, a company that continually demonstrates its dedication to innovation and excellence."
With the introduction of Majesco Copilot, both companies reaffirm their commitment to driving technological advancements in the insurance sector. Industry professionals can now anticipate an unparalleled core business platform that not only simplifies operations but also delivers insights and analytics like never before.
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