Majesco Policy For L&A And Group: Pricing, Free Demo & Features

Last Updated Aug 4, 2026

Overview

Majesco Policy for L&A and Group helps insurers launch and administer individual, employer-paid, and voluntary benefit offerings through configurable products, rating, workflows, and straight-through processing. Although its user interface is somewhat convoluted, the platform offers dashboards and exception-based transactions for managing complex policy operations.

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Starting Price

Custom

Majesco Policy for L&A and Group Specifications

Policy Management
Underwriting Management
Workflow Automation
Reporting And Analytics
Claims Management
Quote Management
Premium Billing Management
Agent Management
Broker Management
Customer Management (CRM)

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What Is Majesco Policy For L&A And Group?

Majesco Policy for L&A and Group is a policy administration system that helps life, annuity, and group benefit insurers configure and manage insurance offerings. It allows carriers to select features and inherit or copy attributes when developing new offerings. The software includes 20+ preconfigured templates with associated rules, calculations, workflows, and processing logic, which helps reduce time-to-market for new products.

What Is Majesco Policy For L&A And Group Best For?

Majesco Policy for L&A and Group software is best known for its rating engine, which supports the configuration and management of product rates, algorithms, and calculations as requirements change. This capability can reduce manual rating work and help insurers modify offerings more efficiently.

How Much Does Majesco Policy For L&A And Group Cost?

Majesco Policy for L&A and Group pricing may start at approximately $15,000/month for a limited deployment involving a smaller carrier or one line of business. Additional costs may include:

Volume-Based Pricing: $0.50 to $3.00/in-force policy/month, depending on policy volume and contract terms
Implementation And Configuration: $500,000 to $3,000,000+ (one-time) to configure products, workflows, rules, and business processes
Data Migration: $100,000 to $750,000+ (one-time) to transfer legacy policy, billing, claims, and historical business data
Onboarding And Training: $25,000 to $150,000 (one-time) for administrator, underwriting, claims, and operational staff training
Annual Support And Maintenance: Typically 18% to 22% of the annual license or subscription cost
Configuration Changes: $10,000 to $100,000/request for product updates, rate changes, forms, or workflow modifications

Get a personalized Majesco Policy for L&A and Group cost today.

Disclaimer: Pricing references are based on publicly available third-party information and industry benchmarks. Actual costs may vary.

Majesco Policy For L&A And Group Integrations

The vendor has not provided details about third-party integrations for this software.

How Does Majesco Policy For L&A And Group Work?

Here's how users can access the platform and start using Majesco Policy for L&A and Group features to complete their day-to-day insurance operations:

Log in to the platform using authorized account credentials
Configure individual, employer-paid, or voluntary benefit offerings using available product templates
Select and customize product features, plans, benefits, rules, and attributes for different customer segments
Set up rates, algorithms, and calculations through the rating engine
Define workflows and straight-through processing rules for routine policy transactions
Manage exceptions, work assignments, queues, and complex cases through dashboards and guided screens
Track policy administration activities using dashboard views and case management tools

Schedule a free Majesco Policy for L&A and Group demo to explore its functionality in more detail.

Who Is Majesco Policy For L&A And Group For?

Majesco Policy for L&A and Group is designed for organizations across the life, annuity, group insurance, and employee benefits sectors, including:

Annuity providers
Life insurance carriers
Group insurance carriers
Employee benefits insurers
Worksite benefits providers
Voluntary benefits providers

Majesco Policy For L&A And Group Use Cases

Based on our analysis of Majesco Policy for L&A and Group’s documented capabilities, we identified the following scenarios where the software could be a good fit:

1. Product Managers Configuring New Life And Benefit Offerings

Product managers may face delays when building a new life, annuity, or employee benefit offering from the ground up. They can use the platform’s preconfigured product templates and reusable attributes to establish the required structure, then adapt the rules and calculations for the intended market segment.

2. Actuaries Managing Multi-Product Rating Calculations

Actuaries and rating analysts often need to maintain calculations that vary across products, customer groups, and benefit structures. The platform provides a rating engine through which they can configure rates, algorithms, and calculation logic. Users share that the rating module performs well as a dedicated component within a broader insurance environment.

3. Policy Managers Consolidating Individual And Group Operations

Policy administration managers overseeing separate individual, employer-paid, and voluntary benefit operations may encounter duplicated processes across disconnected systems. This platform could suit this scenario because it supports these business models on one platform while retaining distinct product and benefit configurations.

4. Operations Managers Automating Routine Policy Transactions

Operations managers may struggle when routine policy activities depend heavily on manual handling. They can establish straight-through processing paths for predictable transactions while directing cases requiring decisions to exception workflows, helping staff concentrate on work that needs judgment.

Is Majesco Policy For L&A And Group Right For You?

Majesco Policy for L&A and Group may suit insurers that plan to expand across individual life, annuity, group, employer-paid, and voluntary benefit operations. Its single-platform architecture can support additional product lines and business models, while configurable workflows and straight-through processing may help carriers manage rising transaction volumes without proportionally increasing manual work.

Still have doubts about investing in Majesco Policy for L&A And Group? Contact us at (661) 384-7070 and let us clear up any doubts so you can make an informed decision.

Majesco Policy for L&A and Group Features

Innovative Product Chassis Design

The product chassis structures an insurance offering so it can be configured as an individual policy, an employer-paid group plan, or a worksite voluntary benefit. It applies the selected product model within the same policy administration platform.

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Product Feature Configuration

This capability provides a library of product features that administrators can select when assembling an offering. Existing attributes may also be inherited or copied into another product configuration.

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Plan And Benefit Configuration

This feature configures plans and benefits according to the requirements of specific segments. Thus, administrators can determine which elements remain standard, and which components are customized within each configuration.

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Rating Engine

Rates, algorithms, formulas, and related calculations are managed through the platform’s rating engine. The engine processes configured calculation logic for different insurance products and benefit structures.

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Case Management

Built-in case management organizes work through role assignments, queues, workflow rules, and skill-based adjudication. Cases are routed according to the configured responsibility or expertise needed at each stage.

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Pros And Cons of Majesco Policy for L&A and Group

A quick look at Majesco Policy for L&A and Group's strengths and weaknesses to
help you decide if it's the right fit

Pros

Reduces manual handling through straight-through processing
Speeds setup with product templates
Simplifies individual and group product administration
Handles complex rates and calculations effectively
Directs exceptions through structured guided workflows

Cons

Product configuration may still require IT involvement
Complex deployment architecture might restrict agile delivery
Multi-step transactions may depend on guided workflows

Majesco Policy for L&A and Group Reviews

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Frequently Asked Questions

Quick answers to common questions to help you better understand the product, features, and services.

What language does Majesco Policy for L&A And Group support?

Majesco Policy for L&A And Group supports English only.

What level of support does Majesco Policy for L&A and Group offer?

The vendor provides support through a contact form and phone calls.

What other apps does Majesco Policy for L&A And Group integrate with?

The vendor has not disclosed details about third-party integrations.

Does Majesco Policy for L&A And Group have a mobile app?

No, the vendor does not offer a dedicated mobile app.

Does Majesco Policy for L&A And Group offer an API?

Yes, the vendor provides an open API ecosystem with more than 600 out-of-the-box APIs.

Who are the typical users of Majesco Policy for L&A and Group?

Typical users include life insurers, annuity providers, group insurance carriers, and worksite or voluntary benefits providers.

What type of pricing plans does Majesco Policy for L&A And Group offer?

Majesco Policy for L&A and Group offers custom pricing, with estimated subscription costs starting at around $15,000/month based on industry benchmarks. Get a flexible Majesco Policy for L&A and Group price according to your organization’s requirements and size.