(Credit: Thinkstock; NIH)
The head of an insurance software and data storage company says he thinks the COVID-19 crisis may lead to temporary delays in closing on some sales but strong insurtech sales later.
Adam Elsten, the chief executive officer of Majesco, told securities analysts Thursday, during a conference call, that he thinks insurers were thinking that they had time to modernize at a slow and steady pace.
Now, "we believe customers are likely to reallocate current and new investment as a result of the COVID-19 crisis," Elsten said. "They will likely shift focus and move to cloud digital experience platforms, automation, efficiency and modernization."
(Related: Majesco Completes InsPro Acquisition)
Majesco runs a "cloud platform," or collection of computers, data storage services and software provided through the Internet.
