<p>Majesco is well positioned to exploit the humongous opportunity as insurers spend billions on technology</p>

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Taking stock names publicly is akin to what Munger states — fraught with risk that comes from a self-confirmation tendency and commitment bias. But successful investing is all about embarking on such treacherous journeys. OysterRock Capital’s focus is to find the “undiscounted change” in the marketplace. Majesco is one such company that could have that undiscounted change in the current environment. The company was spun offfrom Mastek as the latter split its business into two parts, that is, services and software. Majesco got spun offin 2015. Industry tailwinds, a strong product and an improving sales machine combined with an attractive valuation make the stock a decent investment.

Majesco serves just one vertical — insurance; it develops insurance software, support and business consulting expertise and has a well-received cloud platform. It offers end-to-end implementation and support to clients unlike some of its competitors which use system integrators (SIs) and has a strong life and annuity (L&A) and property and casualty (P&C) practice. P&C is the largest segment for Majesco with revenue contribution of around 79% and its ‘Billing’ module is regarded as the top selling module globally. Globally, the company serves 150 clients across North America, Europe, Middle East and Asia. The company, whose key competitors include Guidewire, Duck Creek, and Insurity, is trying to ‘productise’ its service, and is transitioning to become a product company.

Importantly, the company has multiple growth dr