Majesco adds to life insurance & annuity segment through acquisition

Cloud insurance software company Majesco has made an acquisition aimed at growing its life insurance and annuity segment, it announced recently.

The deal for ClaimVantage is expected to strengthen the Morristown-based company’s strategic vision as a provider of next-generation insurance technology solutions, it said in a news release.

“We’re excited to welcome ClaimVantage’s customers to our community and look forward to helping them build the future of their business,” Majesco CEO Adam Elster said in a prepared statement. “Our acquisition of ClaimVantage expands and complements our key strategic focus in the L&A market segment with both strategic and operational investments in the business, and are reflected in the growing market recognition by industry analysts, new and expanding customers and broadening strategic partnerships.”

The deal gives Majesco a broader customer base, new team members and product expansion, among other benefits, it said.

Marlin & Associates acted as exclusive strategic and financial adviser to ClaimVantage.