Majesco surges on strategic tie-up with Elafris

The stock surged 12% to Rs 544 on the BSE on back of heavy volumes.

Majesco has surged 12% to Rs 544 on the BSE on back of heavy volumes after the company announced that Elafris has joined the Majesco Partner EcoSystem to enhance insurers’ customer communication and payment experience.

Majesco is a global provider of core insurance software, consulting and services for insurance business transformation. Elafris, Inc. is a supplier of an artificial intelligence powered chatbot messaging platform.

“As part of the partnership, the two companies will work together to seamlessly pre-integrate Majesco CloudInsurer via the Majesco DigitalConnect platform with Elafris to provide best?in?class communication and engagement experience for insurance companies,” Majesco said in a press release.

The integration will support a range of customer engagement and communication using customer’s social network channels for insurance related transactions including issue of auto insurance ID cards, policy payment, service inquiries and more, it added.

At 10:17 am, the stock was up 11% at Rs 538 on the BSE, as compared to 0.16% rise in the S&P BSE Sensex. A combined 785,856 shares changed hands so far against an average sub 100,000 shares that were traded daily in past two weeks on the BSE and NSE.