Majesco has acquired Exaxe, a Dublin, Ireland-based cloud software provider for life, pensions and wealth management, for an undisclosed amount.
Exaxe provides its software services across Europe, Middle East and Africa (EMEA). The acquisition will strengthen and expand Majesco’s software offerings in the region for the individual life, pensions and wealth management market while complementing its software and Group focused customer base in the UK.
Exaxe is a SaaS provider of software solutions that supports life and pensions companies with digital transformation and helps them to launch new products quickly, administer products more efficiently and respond to changes in marketplace flexibly.
Majesco CEO Adam Elster said: “We are delighted to welcome Exaxe founders Norman and Philip along with the amazing talent they bring to our global Majesco team. Together, we’ll focus on bringing continuous innovation to our customers, helping them take advantage of the market opportunities in insurance with cloud and digital transformation.
“Exaxe has accelerated the delivery of cutting-edge cloud technology to their clients and we are excited to introduce this to the already growing group of Majesco customers and prospects across Europe.”
The SaaS provider offers front, middle, and back-office SaaS solutions specifically for life, pensions, and wealth sectors. its solutions provide full lifecycle support, from automated advice through sales, administration and claims for life, pensions and wealth management product range.
Exaxe claims that its solutions help clients in avoiding large upfront license fees, to pay per usage and work anywhere, anytime. Its solutions support insurance customer policies in the UK, Ireland and other European countries.
Exaxe CEO Norman Carroll said: “We are delighted to join the Majesco family as part of the next phase of growth for Exaxe. We looked long and hard for a partner that shared our view of the digital future for insurance and look forward to maximizing our potential as part of a leading insurance digital transformation player like Majesco.
“This was an easy decision for us. Majesco’s strength coupled with its complementary suite of innovative digital solutions and deep insurance industry expertise means we can offer a wider selection of solutions to new and existing clients and provide greater career opportunities for our committed team.”
Majesco is an insurance technology software services provider. The company’s solutions are claimed to be used by nearly 160 insurance companies across the world, in the P&C, life & annuities and group/ employee benefits sectors.
Its solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI/ analytics, predictive modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services and consulting services.