Majesco, a Morristown-based provider of insurance platform software and consulting services, has named a new CEO, with the firm’s co-founder stepping down from an operational role after 36 years.
Adam Elster, a former executive with CA Technologies, will take over Oct. 1, replacing Ketan Mehta, who will become chairman of the board of directors.
“Over the last three years, Majesco has built a strong foundation for growth,” Mehta said in a prepared statement. “Its business momentum is accelerating and it is well-positioned to be a leading provider of insurance industry platforms. I am very excited to welcome Adam, who will be ideal to lead Majesco to the next level of growth.”
Majesco said Elster has a strong background in the technology industry, including serving as president, global field operations, for CA Technologies, leading teams in sales, services, support and operations, among other responsibilities.
“Majesco has a compelling business with an incredible speed-to-value offering that allows customers in the insurance industry to meet the pace of demand in the market, using platform solutions as the foundation of their future business models,” Elster said in a statement. “At a time when customers are demanding more and more from the insurance industry, Majesco provides innovative, on-demand digital capabilities designed to help insurance carriers outperform.”
The company’s current chairman, Arun K. Maheshwari, will continue to serve as a director, Majesco added.