Majesco TL
Follow Us



MajescoMastek to Consolidate Global Insurance Technology Business

Staff Writer | September 23, 2014

Mastek, the parent company of insurance technology firm MajescoMastek, announces that it has approved a proposal to consolidate Mastek’s global insurance businesses into a single distinct entity, to be known as Majesco.

This move will allow the entire insurance technology value chain to be consolidated under one company serving more than 100 insurance carriers globally. Majesco will be an independent publicly listed company in India subject to regulatory approvals.

Ketan Mehta, CEO of MajescoMastek, will take over as the CEO of Majesco Ltd and will now focus on growing the company’s global insurance business. 

“The worldwide insurance industry is in the midst of a once in a generation modernization cycle, providing an excellent opportunity for Majesco to gain a large share in the growing market,” says Mehta. “Majesco, as an independent company, will be better positioned to pursue a domain-centric business model and make necessary investments in R&D, talent development, and brand building.”

Key benefits of the proposed restructuring, according to Mehta, include:

  • Offer a dedicated management team focused on the single business vertical of insurance

  • Facilitate Majesco to independently pursue growth plans through organic and inorganic means

  • Leverage cross-border synergies between insurance clients across geographies.

  • Provide a wider spectrum of intellectual property offerings to global customers and market needs

  • Provide an opportunity for shareholders to participate in the insurance business

    The proposed restructuring is subject to necessary shareholder and legal approval and expected to be fully operationalized in the second quarter of 2015.


Featured articles


MT 160x600


The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.


The tide is up! It's time to register for ITA LIVE 2019, our annual educational and networking conference! Our theme is "The InsurTech Revolution: Cutting Through the Hype." and we'll be bringing in a torrent of industry thought leaders, amazing insight and wonderful perspectives on the world of insurtech and its impact on the insurance landscape.

ITA LIVE 2019 will present real-life examples of true startup technologies that are helping insurers gain real advantage -- and a competitive edge -- in the marketplace. We’ll highlight the more successful InsurTech partnerships, while offering case studies that demonstrate exciting innovation and cutting-edge techniques impacting all aspects of the insurance ecosystem.

Ride the wave to LIVE 2019. Sign up today! We look forward to seeing you in May, 2019!


only online

Only Online Archive

ITA Pro Buyers' Guide

Vendor Views

Partner News