Press Release

Majesco Publishes Thought Leadership Report on Greenfields, Startups and Incubators … Innovation in Insurance Products, Channels, Services and Business Models

Report provides a formula for de novo options for existing and new companies to seize on rapidly emerging market opportunities and growing investments in innovation

Morristown, NJ June 23, 2016 Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today published a report, Greenfields, Startups and Incubators … Innovation in Insurance Products, Channels, Services and Business Models.  The new report outlines de novo options and platform solution needed for companies to rapidly seize growing market opportunities due to change and disruption.  Case studies highlight the market potential and impact of these approaches.

While much of the attention in this space has been focused on the hundreds of new startups backed by venture capital funding, the report reveals that significant, if quiet, activity has also been occurring among established insurance companies in the forms of startups, Greenfields and incubators.

“We saw something similar in the 2000’s, shortly after the Internet had really taken off, with companies like Progressive, Geico and esurance pioneering e-business as a new way of selling and servicing insurance,” noted Denise Garth, Senior Vice President of Strategic Marketing, Industry Relations and Innovation at Majesco.  “But this time is different with the rapid pace, breadth and number of new models being introduced rapidly into the market, disrupting the industry.  Those taking a de novo approach to grab a share of the changing insurance market, will need a platform based solution with pre-built content, data sources, channel options and best practices that can jump start the new business within weeks to months, not years.”

Majesco recently announced launch of Majesco CloudInsurer, an out-of-the-box repeatable, scalable cloud platform with broad appeal for all insurers from greenfields, new start-ups and incubators to mid-market and tier one insurers.

The thought leadership paper, Greenfields, Startups and Incubators … Innovation in Insurance Products, Channels, Services and Business Models, is available on the Majesco website to download, or you can request a copy via email, info@majesco.com.

 About Majesco

Majesco enables insurance business transformation for approximately 150 insurance customers by providing solutions which include software, consulting and services.  Our customers are insurers, MGA’s and other risk providers from the Property and Casualty, Life, Annuity and Group insurance segments worldwide.   Majesco delivers proven software solutions, consulting and services in the core insurance areas such as policy, billing, claims, distribution management, BI/ analytics, digital, application management, cloud and more. For more details on Majesco, please visit www.majesco.com.

Majesco Contact:

Majesco
Ashwin Rodrigues
Director — Global Marketing
Phone: +1-973-461-9087
Email: ashwin.rodrigues@majesco.com

 

Cautionary Language Concerning Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Majesco’s reports that it files from time to time with the Securities and Exchange Commission and which you should review, including those statements under “Item 1A – Risk Factors” in Majesco’s Annual Report on Form 10-K.

Important factors that could cause actual results to differ materially from those described in forward-looking statements contained in this press release include, but are not limited to:  integration risks;  changes in economic conditions, political conditions, trade protection measures, licensing requirements and tax matters; technology development risks; intellectual property rights risks; competition risks; additional scrutiny and increased expenses as a result of being a public company; the financial condition, financing requirements, prospects and cash flow of Majesco; loss of strategic relationships; changes in laws or regulations affecting the insurance industry in particular; restrictions on immigration; the ability and cost of retaining and recruiting key personnel; the ability to attract new clients and retain them and the risk of loss of large customers; continued compliance with evolving laws; customer data and cybersecurity risk; and Majesco’s ability to raise capital to fund future growth.

These forward-looking statements should not be relied upon as predictions of future events and Majesco cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by Majesco or any other person that we will achieve our objectives and plans in any specified timeframe, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Majesco disclaims any obligation to publicly update or release any revisions to these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.

 

 

 

 

Media Contact

Majesco
Tara Dilzer Alexander
Director, Marketing Communications and Creative Services
Phone: +1-718-916-6873
Email: tara.dilzeralexander@majesco.com

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