Majesco Releases New Thought Leadership Report “A 2D Strategy: Distribution and Digital for High Performance”
Report details the need to optimize the front-end and backend for Insurance Distribution
Morristown, NJ December 10, 2015: Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today published a new insights thought leadership report on distribution management, A 2D Strategy: Distribution and Digital for High Performance. The report analyzes the key external and internal forces that are impacting insurance distribution and recommends a two-pronged strategy for transforming distribution management to meet these challenges. The report incorporates perspectives from C-level executives who participated in a Majesco roundtable on distribution management in late June.
The insurance industry finds itself in a position of catching up to the expanding array of channels and digitally-driven distribution capabilities of other industries, like retail, that are setting customer expectations for researching, buying, servicing and using products and services. The expansion of channel options beyond the traditional agent channel, from comparison sites to digital agencies and non-insurance brands that use their affinity and reach to offer insurance to their customer bases, is rapidly changing the market landscape.
While the objective of expanding digital capabilities and channel options is to make things easier and better for consumers, getting to this state is a complex endeavor for insurance companies. To overcome these challenges, the industry must focus on two concerted efforts:
- First, it requires optimizing the front-end with a digital platform that orchestrates customer engagement across multiple channels.
- Second, this multi-channel environment must be supported by an optimized back-end that effectively manages the growing array and complexity of multiple distribution channels beyond the traditional agent channel.
“Orchestrating the wide variety of channel options – new and traditional – you must offer to your customers has become too complex for legacy channel management processes. Distribution management systems are no longer considered back office systems; they are front office enablers in today’s radically changing marketplace,” commented Denise Garth, Senior Vice President Strategic Marketing for Majesco. “Building an integrated digital distribution framework within a foundation of modern distribution management capabilities can provide insurers new efficiencies, new opportunities and additional fuel for growth.”
The insights report, A 2D Strategy: Distribution and Digital for High Performance, and its companion report, A Path to Insurance Distribution Leadership: New Channels and New Data for Innovative Outcomes, are available on the Majesco website to download or send an email to email@example.com.
Majesco enables insurance business transformation for approximately 140 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.
Director – Global Marketing
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.
Tara Dilzer Alexander
Director, Marketing Communications and Creative Services