Majesco, a provider of cloud insurance software services, has completed the acquisition of Utilant LLC, a U.S. based InsurTech company providing the a survey management SaaS product suite for loss control and premium audit surveys and artificial intelligence machine learning data and analytics.
“The recent pandemic has accelerated the timeline for insurers to adopt critical technologies like AI/ML, digital core platforms and data and analytics,” says Adam Elster, CEO of Majesco. “We’re pleased to offer our customers advanced, embedded data and analytics capabilities and next-generation insurance SaaS products that can provide them with a key competitive edge, improve underwriting profitability and accelerate their digital transformation journey.”
Raymond James & Associates acted as financial advisor to Utilant. Nomura Securities International Inc. acted as financial advisor to Majesco, and Sheppard, Mullin, Richter & Hampton LLP acted as legal advisor to Majesco.