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Obtain Financial system of Scale with Multi-Tenant Majesco L&AH Suite for TPAs and BPO Suppliers


That is the second weblog in a sequence on our Fall ’22 Launch. Over the subsequent few months, we’ll proceed to highlight how Majesco helps insurers obtain relentless innovation and meet the ever-changing market wants with an out of doors in strategy.

Within the early days of the cloud, organizations had been reluctant to undertake cloud methods, nevertheless the final a number of years have proven confirmed efficiencies of cloud deployments by means of economic system of scale. TPA and BPO enterprise fashions mandate very excessive working efficiencies to assist razor sharp margins in very aggressive house. Whereas standardized processes and automation are vital components, multi-tenant SaaS platforms can considerably scale back run-costs of enterprise platforms for supporting enterprise processes. Multi-tenant core processing platform for TPAs, BPOs and even multi-carrier insurance coverage firms might help scale back working prices by means of widespread occasion for processes enterprise throughout a number of carriers.

Profitable with Financial system of Scale

In our Fall ’22 Launch, we launched Majesco’s Multi-Tenant L&AH Core Suite for Third Celebration Directors and different companies that course of throughout a number of carriers, an modern new SaaS resolution that helps a couple of legally separate insurance coverage provider on the identical occasion. We now have now enhanced this platform to assist Coverage, Billing and Claims administration throughout a number of carriers/authorized firms.

TPAs have greater fixed-time prices for onboarding every buyer as they should procure extra infrastructure and software program licenses that always pose a barrier to entry and/or enlargement. Multi-tenant platforms are designed to assist prospects develop with out incurring steep onboarding prices for brand spanking new prospects.

This platform permits TPAs to effectively course of enterprise of a number of carriers on a single occasion. It’s architected to scale on a cloud infrastructure with enhanced information safety that ensures dependable information separation throughout a number of insurance coverage carriers. This strategy drastically reduces run prices comparable to upgrades, know-how maintenance, safety adherence, compliance and extra which in flip reduces unit prices of processing a enterprise transaction.

Jeff Bezos has famously stated, “Your margin is my alternative,” implying that Amazon delivered higher costs by decreasing prices. This identical technique can profit TPAs and BPO suppliers if they will scale back value of enterprise transactions by eliminating prices related to separate situations.

Majesco L&AH Core Suite is our domain-rich, market-leading, platform that may course of varied insurance coverage merchandise to assist the wants of contemporary insurers. This innovation which permits enterprise value reductions by means of multi-tenancy assist needs to be checked out by each TPA, BPO or multi-carrier insurer.

Do you may have any extra ideas or questions on this subject? Drop a remark or attain out to our product groups.

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