Majesco wins Celent award for retirement platform breadth of functionality

Majesco’s V3locity Retirement & Pension Administration platform picked up Celent’s XCelent Award for Breadth of Functionality, and that matters mostly as a proof point on product execution, not as a direct P&C market move. The system is built for retirement and pension administration, but the same traits Celent rewarded, configurability, automation, workflow design, usability, and production maturity, are the ones that separate credible core platforms from expensive shelfware.

Celent’s latest core policy systems framework ranks vendors across Advanced Technology, Breadth of Functionality, and Customer Base and Support, which is why this award carries weight in a buying cycle. Tom Scales, Celent’s principal analyst for the report, pointed to a pension market being reshaped by closed defined benefit plans and higher interest rates, conditions that are forcing plan sponsors to modernize systems instead of squeezing more life out of brittle legacy software. For insurance software buyers, the overlap is obvious: old cores slow down product changes, lock in manual work, and make every new service request more expensive than it should be.

Majesco says V3locity covers the full lifecycle from enrollment and vesting through contributions and payouts. The platform also includes member, retiree, employer, and administrator self-service portals, plus integrated workflow and case management, real-time access to information, and cloud-native architecture. Majesco has leaned hard into low-code and no-code capabilities, flexible plan design, end-to-end transaction management, and automated calculations, all of which are the sorts of features that actually reduce dependence on developers when rules or service demands change.

The company also says the award supports its market presence and customer base in pension and retirement and pension risk transfer in North America. That is not a P&C headline in itself, and it should not be oversold as one. Still, it reinforces a broader pattern: Majesco is trying to prove it can ship mature, configurable platforms in regulated lines where failure is visible and expensive.

Majesco has also pointed to a modernization project at a major U.S. public pension fund serving more than 439,000 members across 167 employers. That kind of scale is the real test. It is one thing to talk about platform breadth; it is another to support defined benefit and defined contribution administration across public-sector, private-corporate, and Taft-Hartley plans while keeping the operation usable for administrators and member-facing users. For a P&C audience, the takeaway is simple: this is not a core line-of-business shift, but it is evidence that Majesco still knows how to build and sell a serious platform.