While hype around AI has intensified recently, it has been around for decades, albeit confined to more niche and specific technology branches that lacked wide scalability. It wasn’t until the advancements in generative AI that unlocked the potential of the technology, especially for the insurance sector.
Manish Shah, president and CPO at Majesco, explained that insurance is highly complex; each function within an insurer has its own nuances. When ChatGPT launched in 2022, it opened a whole new level of opportunity to solve that complexity. Shah said, “It was very limited, yet it was quite powerful.”
This was the spark that led Majesco on its mission to become an AI-first company that could help its insurance clients leverage the full power of generative AI, and later, agentic AI.
Initial ideas at Majesco of how to implement generative AI into insurance focused around simplifying some of the complexity in insurance. For instance, providing a tool customerz could use for answers about policies. If a customer wants to know if they are covered for an earthquake, they can get a quick answer to that and any follow-up questions they might have about technical terms like deductibles and exclusions, rather than having to sift through documents and attempt to understand it by themself. The result was Intelligent Core, an embedded AI solution that could support policy, billing and claims. It started as a simple solution, but the idea was to get started as quickly as possible and scale from there.
Shah said, “That’s how we started out, but our approach and innovation style at Majesco follows what we call ‘patient urgency’, which means we like to go immediately into it, and then we’d like to evolve it very patiently.” This method of getting a solution live as soon as possible and then refining it over time has various benefits, but primarily, it allows the team to get first-hand experience to see how it works in real world, reactions to it and where improvements can be made. Simply observing from the sidelines does not offer the same level of insights.
After positive client feedback, Majesco started experimenting with how to improve the platform. An early addition was enabling it to handle low-level tasks. If a someone wanted to change the name and address on the policy, they could ask the platform to do so with a full audit trail.
Several enhancements later, Majesco had entered the next logical development, AI agents. In October 2025, Majesco launched 13 AI agents for the Intelligent Core platform. These featured advanced reasoning, human-in-the-loop control and company specific guardrails to help transform insurance, spanning P&C, L&AH and loss control, to help users accelerate quoting, claims, billing, and other manual workloads, while improving customer experience. Majesco is posied to releasing more, with a total of 100 expected by October 2026. Shah added, “What we believe is that the future is the human-AI collaboration and not just human or AI.”
The driving force behind this innovation was not technology, it was the realisation insurance was still dependent on documents. While their format has changed to emails and digital forms, insurers are encumbered by them, and teams spend thousands of hours compiling them. This is where agentic AI can save time and free people to focus on relationships. However, people need to trust the technology and an out-of-the-box tool would lack accuracy. As such, Majesco’s data scientists built their own data ingestion and document reader tools to ensure clients could fully trust the tool’s output.
On a concluding note, Shah said, “This is a very fast moving and uncharted journey. I don’t think that there is a guided path. The path that you see is probably based on what you know and what you know is changing by day. We will do it in Majesco style, and we will pivot if we find a different path. But at this point, one thing is for sure that this is going to change faster than anything else we have seen before. This is not a fad; it’s going to stay. Nobody is immune from an AI related impact, and we want to make sure that we continue to innovate and put an investment on making insurance better in the post-AI era.”
Majesco was recently named in this year’s AIFinTech100, which identifies the companies leading AI solution providers companies helping to transform financial services. The full AIFinTech100, including profiles on each company, can be found here.
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