Insurance software vendor Majesco and IBM are partnering to deliver a cloud-based software platform for insurers leveraging IBM's Watson cognitive computing technology.
The joint offering is the first under IBM's recently announced Industry Platforms division. IBM and Majesco's offering will provide insurers with a way to launch predictive-analytics driven products and services quickly, the companies say.
IBM will open up an API for Watson, its cognitive computing platform, which insurers can use to analyze, price and understand business risks better. Watson can also help insurers deploy automated advisory interfaces.
"The integration of IBM Cloud and cognitive capabilities with Majesco's market-leading core system for policy, billing and claims will allow for new, innovative products and services for insurers," said Ketan Mehta, Majesco CEO and co-founder. "This partnership underscores our commitment to accelerate new business services to our clients by providing them technology to transform their insurance business models."
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