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Majesco Announces Fall Product Council to be held in Bridgewater, New Jersey, November 12, 2019

This will be the 12th Product Council meeting that brings together Majesco customers, leadership and product management to collaborate on the roadmap to meet today’s and tomorrow’s demands

Morristown, NJ – November 7, 2019:  Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that it will host its 12th Product Council meeting November 12 in Bridgewater, New Jersey.  Majesco hosts the Product Council twice a year in the spring and fall.

“As a leading insurance product company, we value the input from our customers for shaping the roadmap of our products. Our semi-annual product council is a great way to bring together our customers, product management and leadership to collaborate on the roadmap by keeping our customers’ needs at the core,” commented Manish Shah, President and Chief Product Officer at Majesco.  “With our market leading monthly automated updates of our software products along with regulatory updates for rates, rules and forms, our roadmap is a “living” guide for our development teams and our customers, providing them details to help shape their plans.

Opening the Product Council meeting will be CEO Adam Elster and Chief Product Officer Manish Shah, providing an update on the company as well as the recent market availability of Version 11 of Majesco P&C Core Suite and Majesco L&A and Group Core Suite.  The day will be spent in breakout sessions for each of the software solutions to review, discuss and collaborate on the 2020 product roadmap priorities.

“We are excited and honored to have such a diverse and active customer base who participate not just in our Product Council, but daily in their submission of ideas that continue to strengthen and innovate our solutions to meet the demands of a fast-changing insurance marketplace,” stated Adam Elster, CEO of Majesco.  “Together, we are creating the future of insurance that is connecting customers to insurance in ways that are innovative, hyper-relevant, compelling and personal.”

 

About Majesco

Majesco (NASDAQ: MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st Insurance™ with Digital1st eConnect™, Digital1st EcoExchange™ and Digital1st Platform™ – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.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.

Arch Insurance Live with Majesco Billing for P&C on Majesco CloudInsurer™

The seven month implementation is the first phase of a multi-phased enterprise strategic initiative to replace multiple legacy billing solutions that will help deliver superior customer service and growth

Morristown, NJ November 6, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Arch Insurance Group, Inc. (Arch Insurance) implemented Majesco Billing for P&C on Majesco CloudInsurer™ in seven months.

Arch Insurance is part of Arch Capital Group Ltd., a Bermuda-based company that provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries. Arch Insurance aims to provide its customers with superb coverage and service through business-friendly solutions.

“Insurance customers are demanding new levels of billing service, and Arch’s commitment to a superior client experience requires supporting a variety of payment options, customizable bill plans and access to real-time billing information. Our strategic partnership with Majesco and this initial implementation enable Arch to meet those needs.” stated Tom Ahern, EVP & Chief Financial Officer for Arch Insurance.

Arch’s implementation is the first phase of a multi-phased enterprise initiative that will replace multiple legacy billing solutions.

“We are thrilled to be partnering with Arch Insurance to deliver on their strong commitment to service,” stated Prateek Kumar, EVP for Majesco. “In today’s continued rapid shift to a new digital era of insurance, billing solutions are at the forefront of meeting customer expectations. Our deep understanding and experience in delivering billing capabilities for today and the future, provide our customers a platform to rapidly launch and achieve growth and service excellence strategies. We look forward to the future phases and our partnership with Arch Insurance.”

 

About Majesco

Majesco (NASDAQ: MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer® P&C Core Suite (Policy, Billing, Claims); CloudInsurer® L&A and Group Core Suite (Policy, Billing, Claims); Digital1st Insurance™ with Digital1st eConnect™, Digital1st EcoExchange™ and Digital1st Platform™ – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.

 

About Arch Insurance Group Inc.

Arch Insurance Group Inc., a wholly owned subsidiary of Arch Capital Group Ltd., provides property, casualty and specialty insurance solutions for corporations, professional firms and financial institutions in the United States. Business is written by Arch Insurance Company, Arch Specialty Insurance Company, Arch Excess & Surplus Insurance Company and Arch Indemnity Insurance Company.

 

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.

Burns & Wilcox Implements Majesco Digital1st Insurance™ Platform as the Foundation for Latest Digital Growth Strategy

Next-generation platform enables wholesaler to bring innovative specialty insurance solutions to brokers and agents at speed and scale

Morristown, NJ – November 4, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Burns & Wilcox, North America’s leading insurance wholesale broker and underwriting manager, selected Majesco Digital1st Insurance™ platform as the foundation of their latest digital growth strategy.

Burns & Wilcox, the flagship organization of H.W. Kaufman Group, captures more than $1.5 billion in premium annually and is recognized for its expertise in commercial and professional liability, property, environmental, marine and personal insurance. For 50 years, the privately held wholesaler has served retail brokers and agents of all sizes—offering wide ranging and comprehensive specialty insurance solutions and trusted counsel on complex risks.

“When evaluating new technology solutions to further support our overall growth strategy and meet the needs of our clients, we determined the need for a platform that provided cloud-based, real-time, insurance specific capabilities,” commented Daniel J. Kaufman, Chief Operating Officer, Burns & Wilcox and Executive Vice President, H.W. Kaufman Group. “By partnering with Majesco Digital1st Insurance, Burns & Wilcox can provide quick access to innovative specialty insurance products on a digital platform that meets the changing risk needs of consumers.”

The initial phase will include the development of three insurance offerings with plans to extend the platform across the enterprise with additional product offerings.

Majesco Digital1st Insurance™ is a ground-breaking cloud-native, micro-services and API-based platform-as-a-service that brings the most cutting-edge business and consumer technology trends to insurance. Majesco Digital1st Insurance™ is distinctly different from the core platform solutions for P&C and L&A and Group, though each of new solutions can be used and integrated with Majesco’s core systems, and with other core software to accelerate their value.

“We are honored and thrilled on the selection of Majesco Digital1st Insurance™ by Burns & Wilcox as their platform for their future,” stated Manish Shah, President and Chief Product Officer for Majesco.  “Majesco Digital1st Insurance™ is our answer to the paradigm shift happening in the insurance industry.  We’ve built a platform designed to innovate and scale the business, create unique client experiences, capture new and underserved market opportunities, leverage expanding ecosystems and deliver value in record time.  We are thrilled to partner with Burns & Wilcox to demonstrate the possibilities and value of this next generation platform and in doing so, shape the future of their business and the industry.”

 

About Burns & Wilcox

Burns & Wilcox is the insurance industry’s leading wholesale insurance broker and underwriting manager internationally recognized for its expertise in commercial and professional liability, property, environmental, marine and personal insurance.

Burns & Wilcox is a member of H.W. Kaufman Group, which has over 60 offices across the United States, Canada, and the United Kingdom and employs more than 2,000 professionals. Founded in 1969 and headquartered in Metro Detroit, H.W. Kaufman Group also includes: Burns & Wilcox Brokerage, Burns & Wilcox Canada, Atain Insurance Companies, Afirm, Global Excess Partners, RB Jones, Stonemark, Minuteman Adjusters, and London-based, Chesterfield Insurance Brokers, Lochain Patrick, Cranbrook Underwriting, and Node International. More information can be found at www.burnsandwilcox.com.

 

About Majesco

Majesco (NASDAQ: MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer™ P&C Core Suite (Policy, Billing, Claims); CloudInsurer™ LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer™ L&A and Group Core Suite (Policy, Billing, Claims); Digital1st Insurance™ with Digital1st eConnect™, Digital1st EcoExchange™ and Digital1st Platform™ – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.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.

SECURA Upgrades Majesco Policy for P&C and Expands Additional Lines of Business and States

Upgrade and expansion builds on a 25 year strategic partnership that positions them for the future of insurance

Morristown, NJ October 31, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that SECURA Insurance successfully upgraded to Version 10 of Majesco Policy for P&C, transferred all policies, and implemented additional lines of business. The expansion of additional lines of business includes commercial package, directors and officers (D&O), professional liability, employment practices liability (EPLI), business owner’s policy, target contractor, and commercial umbrella for 12 states. This follows the original implementation of commercial auto and workers’ compensation.

SECURA has been a customer and partner with Majesco for more than 25 years. They are a leading mutual property and casualty insurer based in Neenah, Wisconsin with a 119-year track record of success. As a service-focused, relationship-driven insurer, they focus on serving the continually changing needs and expectations of their independent agent partners and customers.

Commenting on this achievement, Steve Miller, Vice President – Commercial Lines, said “SECURA is transforming its business to take advantage of the market growth in commercial lines. The upgrade and expansion of Majesco Policy for P&C provides us with a modern core platform as our foundation for growth. Majesco’s deep experience and capabilities for commercial lines business, along with their pre-configured products with ISO content, have contributed significantly to this success. We look forward to a continued strategic partnership with Majesco as we move forward to a new era of insurance.”

Regarding the capabilities and partnership, Todd Thiel, Vice President – Information Technology, stated “We’ve partnered closely with Majesco on their new microservices and APIs in Version 10, and have integrated them successfully with our agent facing portal. Majesco has also been a strong partner in enabling our own internal development team to configure new products and enhancements using Majesco Policy for P&C toolsets. This empowered team will play a key role in our continued commercial lines growth at SECURA.”

“We are thrilled on SECURA’s upgrade and expansion and congratulate them on this achievement,” commented Ed Ossie, COO for Majesco. “As a frequent industry award winner and a Ward’s top performer, SECURA exemplifies a forward-thinking insurer who is leveraging technology to reshape and strengthen their business for the future. We are humbled by their 25 years of trust and confidence in Majesco and look forward to supporting them as we partner together in reshaping the future of insurance.”

 

About SECURA Insurance

SECURA Insurance is headquartered in Neenah, Wis. Approximately 550 independent insurance agencies in 12 states represent the company, which provides a broad range of competitive commercial, personal, farm, nonprofit, and special events products. It is known for providing exceptional service to its agents and policyholders since 1900, and is rated A (Excellent) by A.M. Best for its excellent ability to meet policyholder obligations. The carrier is a Ward’s Top 50 company for outstanding results in financial performance and consistency over a five-year period, and it is a certified Great Place to Work. Visit www.secura.net to learn more.

 

About Majesco

Majesco (NASDAQ: MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer™ P&C Core Suite (Policy, Billing, Claims); CloudInsurer™ LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer™ L&A and Group Core Suite (Policy, Billing, Claims); Digital1st Insurance™ with Digital1st eConnect™, Digital1st EcoExchange™ and Digital1st Platform™ – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.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.

Majesco Cloud Solutions Now Available in the Microsoft Azure Marketplace

Microsoft Azure customers worldwide now gain access to Majesco Core Suite for P&C, Core Suite for L&A and Group, Distribution Management and Majesco Digital1st Insurance™ to take advantage of the scalability, reliability and agility of Azure to drive application development and shape business strategies.

 

Morristown, NJ – October 30, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced the availability of Majesco Cloud solutions in the Microsoft Azure Marketplace.  Majesco CloudInsurer™ and Majesco Digital1st Insurance™ were architected to benefit from the cloud capabilities of Azure.  Majesco currently has over 54 customers on their Cloud solutions.

This announcement expands the relationship by having Majesco CloudInsurer™ solutions including Majesco P&C Core Suite and Majesco L&A as well as the cloud-native platform, Majesco Digital1st Insurance™ available in the Azure Marketplace.

“Cloud is playing a pivotal role in digital transformation of the insurance industry globally. Majesco had an early start in designing its robust insurance-focused core system platforms for both P&C and L&A insurance, as well as, the innovative Digital1st Insurance™ platform.  Together they have opened the door to new ways of doing business, engaging with customers, bringing products to market faster and capturing rapidly unfolding market opportunities,” stated Manish Shah, President and Chief Product Officer for Majesco.  “Our relationship with Microsoft will help enrich our solutions with innovative cloud capabilities, as well as, expand the reach of our cloud platforms, helping the industry accelerate their journey to the future of insurance with speed and scale.”

Sajan Parihar, Senior Director, Microsoft Azure Platform at Microsoft Corp. said, “Through Microsoft Azure Marketplace, customers around the world can easily find, buy, and deploy partner solutions they can trust, all certified and optimized to run on Azure. We’re happy to welcome Majesco’s solutions to the growing Azure Marketplace ecosystem.”

 

About Majesco

Majesco (NASDAQ: MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer™ P&C Core Suite (Policy, Billing, Claims); CloudInsurer™ LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer™ L&A and Group Core Suite (Policy, Billing, Claims); Digital1st Insurance™ with Digital1st eConnect™, Digital1st EcoExchange™ and Digital1st Platform™ – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.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.

Majesco To Report Fiscal 2020 Second Quarter Financial Results on November 5, 2019

Conference Call Scheduled for November 5 at 5:00 p.m. ET

Morristown, NJ – October 30, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that the company will report its fiscal 2020 second quarter financial results after the market close on Tuesday, November 5, 2019.  Following the news release, Majesco leadership will host a live teleconference on Tuesday, November 5, 2019 at 5:00 p.m. ET to review the results.

 

CONFERENCE CALL AND WEBCAST INFORMATION

Anyone interested in participating in the conference at 5:00 p.m. ET on Tuesday, November 5, 2019 can dial 855-327-6837 if calling from the U.S., or 631-891-4304 if dialing internationally.

A replay will be available until November 19, 2019 and can be accessed by dialing 844-512-2921 within the U.S. and 412-317-6671 if dialing internationally. Please use passcode 10007926 to access the replay.

The call will be webcast and will be available on the Company’s website at www.majesco.com.

 

About Majesco

Majesco (NASDAQ:MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal. Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer™ P&C Core Suite (Policy, Billing, Claims); CloudInsurer™ LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer™ L&A and Group Core Suite (Policy, Billing, Claims); Digital1st Insurance™ with Digital1st eConnect™, Digital1st EcoExchange™ and Digital1st Platform™ – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.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.

Aon Affinity Fuels Aggressive Growth Plans by Replacing its Complex Legacy Systems with Majesco’s Modern, SaaS-Based P&C Core Suite

This high-growth affinity business unit chose Majesco based on its deep cloud experience, strong customer references and proven track record for delivering speed to implementation, speed to market, and speed to value

Morristown, NJ – October 29, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Aon Affinity, a division of Aon Plc (NYSE: AON), chose Majesco solutions to fuel the high-growth potential of its business.

Aon Affinity specializes in customized insurance programs and specialty solutions for 200+ organizations worldwide and considers technology platforms as the backbone of its global operations, critical to efficiency, growth and profitability.

By replacing complex, legacy applications from multiple products, carriers, programs and channels with Majesco P&C Core Suite on Majesco CloudInsurer™ combined with Majesco Enterprise Data Warehouse and Majesco Insurance and Data Analytics Platform, Aon Affinity will be able to significantly increase its speed to market with customized products and services for its diverse affinity groups, while optimizing their operations and improving their business insights.

The transformation initiative includes implementation of the Majesco platform across 100-plus programs covering over 20 products and more than 15 unique affinity markets.  After an eight-week proof-of-concept to build out four lines of business with Aon Affinity’s specific business rules and flows, they chose Majesco based on its innovative technology, deep cloud experience and customer references, a proven track record for delivering speed to implementation, to market, and to value – and extensive knowledge of the insurance commercial and specialty lines of business.

“Following a rigorous evaluation process, we chose Majesco based on their unique value proposition, which combined speed, extensive business capabilities and content with cloud maturity,” commented Darrin Hebert, CIO at Aon Affinity.  “With today’s rapidly expanding affinity market, the ability to deliver customized, innovative products with speed, quality and scalability is crucial to our growth strategy.  Majesco’s impressive track record stood apart from the competition. We are excited about tapping the future growth potential with Majesco as our partner.”

“Aon Affinity is long recognized as a pioneer and leader in the insurance industry and we are thrilled to work with them to strengthen that position with our cloud and SaaS based solutions,” commented Ed Ossie, Chief Operating Officer at Majesco.  “Majesco is committed across all levels of the organization to partner with Aon Affinity as they transform their business to compete in a new era of insurance that demands agility, innovation, speed and customer value. We look forward to helping them shape the future of their business and the future of insurance.”

 

About Majesco

Majesco (NASDAQ: MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer™ P&C Core Suite (Policy, Billing, Claims); CloudInsurer™ LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer™ L&A and Group Core Suite (Policy, Billing, Claims); Digital1st Insurance™ with Digital1st eConnect™, Digital1st EcoExchange™ and Digital1st Platform™ – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.majesco.com.

 

About Aon Affinity

Aon Affinity is a trade name for Affinity Insurance Services, Inc. Aon Affinity combines the specialized knowledge of affinity program management with the extensive resources of a global company to help clients achieve their goals. With an innovative approach to program strategy, from the design of products and services to the delivery of the marketing message, Aon Affinity offers full-service capabilities; technical expertise and industry knowledge to deliver value to clients. Visit http://www.aon.com/affinity  for more information.

 

About Aon

Aon plc (NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

 

 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.

Announcing General Availability of Version 11 of the Market-Leading Majesco P&C Core Suite and Majesco L&A and Group Core Suite Platforms

The new versions include cutting-edge capabilities and innovative features to accelerate insurers’ ability to modernize, optimize and create a new future of insurance

Morristown, NJ October 28, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced the general availability of the version 11 for the market-leading Majesco P&C Core Suite, including Majesco Policy for P&C, Majesco Billing for P&C and Majesco Claims for P&C, and Majesco L&A and Group Suite, including Majesco Policy for L&A and Group, Majesco Billing for L&A and Group and Majesco Claims for L&A and Group.  This follows the pre-announcement for P&C Core Suite and L&A and Group Core Suite in April, 2019.

“Insurers are seeking a platform that connects people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal, to drive growth and innovation for their business. Our robust SaaS-based platform provides the open architecture, configurability, ready-to-use content, and pre-built capabilities to help insurers achieve digital transformation,” stated Adam Elster, CEO for Majesco.  “By focusing on customer-centricity, we are providing the capabilities that deliver great customer experiences for all insurance products and services. Our core insurance suites together with our digital experience platform, Majesco Digital1st Insurance™, is a winning combination.”

It is a time of disruption and change in the insurance industry – the InsurTech revolution over the last four years has challenged insurers by forcing them to take stock and determine their future path.  The speed of technology development and the threat of rapid competitive market shifts have given insurers a new perspective in what core technology they will need to compete in a rapidly changing marketplace.  Cloud-based platforms like the Majesco P&C Core Suite and Majesco L&A and Group Core Suite are helping insurers not only modernize and optimize their business, but also to create a new business for the future.

“Majesco is aggressively investing and delivering on our vision to help insurers, reinsurers, InsurTechs and MGAs build the future of their businesses – at speed and scale.  The new version 11 of our P&C and L&A and Group Core Suites will help our customers and the industry meet the demands and expectations of tomorrow, today,” commented Manish Shah, President and Chief Product Officer at Majesco.  “We are in a unique position in working with all segments of the industry across all lines of business which allows us to clearly drive a customer-centric view and leverage ideas and innovations across our solutions, delivered on a mature cloud environment with Majesco CloudInsurer™.

This release highlights Majesco’s continued strategic investment in our core systems to enable our customers’ transformation and shift to future of insurance.  The new versions bring new and innovative capabilities for further improving speed to value, customer experience, ecosystem connectivity and cloud delivery.

Some key elements for both the P&C Core Suite and the L&A and Group Core Suite include:

  • Fully Cloud-Enabled – Embrace speed and agility with core suites that maximize cloud capabilities.
  • Rich Out-of-the-Box Content – Exploit pre-configured products, processes, rules and content for rapid deployment of all P&C and L&A and group lines of business across all states.
  • Robust Open API Catalog and API Gateway – Over 2,000 0 compliant APIs covering all major P&C and L&A and Group functions available over an enterprise gateway servicing all APIs with enterprise monitoring and servicing feature for Majesco CloudInsurer™ customer
  • Cutting Edge Capabilities – Leverage AI chatbot-driven conversational UX for navigation and quick task completion that cut through the maze of system functionality and deliver AI-driven insights that make decision-making faster, easier and more profitable.
  • Customer Panoramic View – A panoramic view of the customer’s portfolio through their entire lifecycle with drill down capabilities, providing an effective underwriting and customer service tool.
  • Digital Tour Guide – Contextual and interactive tutorials and guided tours of existing and newly released features for engaging and improving user adoptions and their productivity.
  • Global Search – All-purpose, generic search capability to find any entity across all core suite products to initiate transactions right from the search results.
  • Ready-to-use Digital1st EcoExchange Capabilities – Built-In integration and configuration capability to quickly integrate with any Digital1st EcoExchange™ partner apps without coding.
  • Simple, Automated Upgrades – Seamless monthly upgrades of software and content to keep insurers compliant and at the leading-edge.
  • No Code Integration with Majesco Digital1st Insurance – Leverage a powerful digital experience platform and rich ecosystem of partners to deliver personalized experiences, access new data sources and offer innovative capabilities for your customers and agents or brokers.

“Insurers are looking to transform into a digital insurance business and as a result must have a focus on products, technology, partnerships and customer experience,” commented Karlyn Carnahan, Head of Americas for Celent.  “Today, insurers are looking for core suites that are truly cloud and API-enabled, and vendors with strong product leadership that leads rather than follows where the industry is going.  Innovative capabilities that both modernize and optimize while also enabling innovation, bring tremendous value to insurers.”

Majesco was recently named a Leader in the September 2019 Magic Quadrant for P&C Core Insurance Platforms, North America and a Visionary in the August 2019 Magic Quadrant for Life Insurance Policy Administration Systems, North America.

 

Gartner Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

 

About Majesco

Majesco (NASDAQ: MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 190 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer™ P&C Core Suite (Policy, Billing, Claims); CloudInsurer™ L&A and Group Core Suite (Policy, Billing, Claims); Digital1st Insurance™ with Digital1st eConnect™, Digital1st EcoExchange™ and Digital1st Platform™ – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.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.

New Majesco Report Emphasizes the Burning Platform for Insurance Transformation and Market Leadership

Incumbent insurers and InsurTech startups are changing the rules of the insurance business with the powerful capabilities of cloud-based platform businesses

Morristown, NJ – October 15, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced the release of a new research report, Insurance Platforms – A Burning Platform for Market Leadership in the Digital Era of Insurance.

The report underscores how visionary leaders are leveraging customer, market and technology trends as a many-fold opportunity for insurance growth by reaching new or underserved markets, creating innovative new products and personalizing the customer experience by using new sources of data and offering compelling experiences.    These leaders are forging the path to the future with a cloud-based platform utilizing cloud, microservices, open APIs and API gateway, artificial intelligence and machine learning, and digital ecosystems that will keep them ahead of the trends and the changing competitive marketplace.

“We are in the early stages of the redefinition and value creation revolution for insurance, particularly with the rapid growth of cloud and changing technology foundation coupled with growing ecosystems that provide new data sources, innovative capabilities and interesting services, all of which create a multiplier effect for growth,” commented Denise Garth, SVP of Strategic Marketing, Industry Relations and Innovation at Majesco. “Every aspect of the insurance business is being redefined within the context of the future … not the past.   And platforms are the future.”

The report notes an increasing priority and urgency around the technologies underscoring platforms because of the tremendous value and opportunity in terms of the growth and innovation they can deliver.  But with so many now using the “platform” word, it is important to note what a platform is not.  It is not taking “modern core systems” and implementing them in a hosted environment and calling it “cloud,” lacking all the benefits of an architected solution that leverages cloud capabilities.  It is not having a time-consuming, costly upgrade process.  It is not creating a marketplace of partners using “accelerators” or point-to-point integrations.  It is not having a handful of APIs and stating that you are API-enabled.  And it does not use a “portal out-of-the-box.”

“The heart of the insurance platform is an orchestration of next gen technologies including cloud native computing, microservices, APIs, new data sources, and artificial intelligence and machine learning, coupled with an ecosystem of partners,” noted Manish Shah, President and Chief Product Officer at Majesco.  “With this unified combination of components, insurers can shift from being the ‘owners of complex core systems’ to become the ‘owners of platform with product agility, digital fluency, innovation and speed to value’ required in today’s pace of change.”

The report details each component of the insurance platform and gives examples that illuminate how companies, both startups and incumbents, are creating new products and business models built on insurance platforms, helping them accelerate innovation, dynamically plug into ecosystem capabilities and deliver speed to market.  The report notes how the early platform players are broadening their ability to penetrate existing and new markets through their ability to “plug and play” into other ecosystems, such as mobility, housing or transportation/logistics.

Time is of the essence because the future of insurance is picking up speed. Insurers must proactively adjust to customer demands, needs and demographics, to the changing risk environment, to shifting market boundaries and to the accelerating advances and adoption of technology. Platforms, with their technology and ecosystems, offer a unique opportunity for the industry to reinforce its relevance to customers.

The thought leadership report is available to download on the Majesco website, or you can request a copy by emailing info@majesco.com.

 

About Majesco

Majesco (NASDAQ: MJCO) provides technology, expertise, and leadership that helps insurers modernize, innovate and connect to build the future of their business – and the future of insurance – at speed and scale. Our platforms connect people and businesses to insurance in ways that are innovative, hyper-relevant, compelling and personal.  Over 200 insurance companies worldwide in P&C, L&A and Group Benefits are transforming their businesses by modernizing, optimizing or creating new business models with Majesco. Our market-leading solutions include CloudInsurer™ P&C Core Suite (Policy, Billing, Claims); CloudInsurer™ LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); CloudInsurer™ L&A and Group Core Suite (Policy, Billing, Claims); Digital1st Insurance™ with Digital1st eConnect™, Digital1st EcoExchange™ and Digital1st Platform™ – a cloud-native, microservices and open API platform; Distribution Management, Data and Analytics and an Enterprise Data Warehouse. For more details on Majesco, please visit www.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.