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Stillwater Insurance Chooses Majesco Claims for P&C on Majesco CloudInsurer™ and Majesco Enterprise Data Warehouse

The insurer to accelerate their growth strategy and fuel innovation by replacing legacy systems with Majesco’s modern, cloud-based claims platform and innovative data and analytics capabilities

Morristown, NJ – September 12, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Stillwater Insurance, a U.S. insurer operating in all 50 states, selected Majesco Claims for P&C on Majesco CloudInsurer™ with Majesco Enterprise Data Warehouse for data analytics capabilities.

Stillwater Insurance Group was founded in 2000 as the Fidelity National Property & Casualty Insurance Group, a branch of the Fortune 500 Company Fidelity National Financial, the country’s largest provider of commercial and residential title and mortgage services.

In a rigorous, six-month process to assess whether to upgrade their existing claims system or replace it with a new claims system,  Stillwater evaluated several vendors, including Majesco. Their evaluation included a site visit with a Majesco customer and multiple conversations with industry peers at Convergence, Majesco’s annual customer conference. Ultimately, Stillwater chose Majesco based on its strong customer references, deep cloud heritage, and sophisticated SaaS platform that enables insurance companies to take advantage of a true “pay as you grow” model.

“With our A- Rating from A.M. Best and A+ rating and accreditation from the Better Business Bureau, Stillwater acts as the safe port in any storm, providing peace of mind and protection of life’s assets,” commented Ramesh Mugalam, Chief Strategy Officer at Stillwater. “Our partnership with Majesco will no doubt help us maintain our positive track record in the marketplace of being responsive, truthful and honoring promises with the highest standards of service, customer experience and claims satisfaction within the insurance industry.”

“We are incredibly honored that Stillwater chose Majesco to ensure they’re managing their customers’ most important moments of truth at a time when the nature of risk and customer needs and expectations are changing,” said Prateek Kumar, EVP at Majesco. “Our cutting-edge platform builds speed, ease and responsiveness into the claims process,  empowering insurers like Stillwater to spend less time managing processes and more time delivering value and growing their business.”

 

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 Appoints Industry Trailblazer Carolyn Johnson to its Board of Directors

The appointment of an experienced financial services and insurance leader is a testament to Majesco’s promise of leadership for its customers, with unparalleled industry expertise, domain knowledge and innovative technology solutions

Morristown, NJ – September 9,  2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Carolyn Johnson will join its Board of Directors.

Ms. Johnson joins Majesco’s Board of Directors with more than 30 years of experience in financial services, most recently serving as Chief Transformation Officer for AIG, Inc., a global insurer.

“Carolyn is an outstanding addition to our Board. She is an accomplished business leader and experienced board member in the insurance and financial services industry. I’m excited about the value her insights, business acumen and counsel will bring as we look ahead and continue to pursue Majesco’s vision for the future of insurance, laying a path of innovation and transformation for the industry,” commented Majesco CEO Adam Elster.

Prior to AIG, Ms. Johnson was Chief Executive Officer, Annuities and Individual Life for Voya Financial, Inc., a financial, retirement, investment and insurance company. Before that, she served as President, Annuities and the Tax Exempt Retirement business at Voya, and as an active member of Voya’s Risk and Product Committees. Ms. Johnson’s earlier experience included various senior executive roles, such as Executive Vice President and Chief Operating Officer of Protective Life Corporation (“Protective”), a company specializing in life and specialty insurance and investment products, and leadership roles in business, operations and marketing with Bankers Life & Casualty Co. and several Transamerica/AEGON subsidiaries.

Ms. Johnson served on the boards of the Secure Retirement Institute and Insured Retirement Institute, was the Vice Chair of the Secure Retirement Institute and the Vice Chair of the Financial Literacy Committee. She also served on the American Council of Life Insurers CEO Steering Committee on Consumer Issues. She earned her Bachelor of Science in Business Administration from California State University, Los Angeles, and studied executive-level finance at Harvard Business School.

“Majesco has a fantastic legacy of delivering innovation and transformation in the insurance industry, and I believe they are uniquely positioned to help insurance companies take advantage of the disruption and opportunity developing as a result of a rapidly changing technology and customer landscape,” commented Johnson. “I look forward to  working with the leadership team and the rest of the Board of Directors to build on their impressive performance and growth and help shape the future of an entire industry.”

  

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 Joins the Association of Financial Mutuals

Dublin, Ireland – September 5, 2019 – Majesco (NASDAQ: MJCO), a global provider

of cloud-based, core insurance platform software, has joined the Association of Financial Mutuals, the trade body which represents mutual and not-for-profit insurers, friendly societies and other financial mutuals across the UK.

Majesco works extensively with over 200 insurers across all lines of business for life and non-life, including InsurTech start-ups and greenfields by providing core, innovative cloud and digital solutions to help the insurance industry and clients transform their business.  New and innovative business models, products, services and channels, as well as new approaches to customer engagement are becoming the new norm for insurance, demanding agility, speed and innovation which is dramatically different from legacy insurance practices.  Majesco has been an early thought leader about the change and disruption in the insurance market and continues to accelerate overall market awareness of our solutions and rapid time-to-value.  Sharing our views and gaining insight from the Association of Financial Mutuals will be imperative to help insurers build their future in the insurance industry.

Members of the Association of Financial Mutuals benefit from access to networking, research, regular training and events, and topical updates and responses to government and regulators on issues that affect mutuals based in the UK.

Martin Shaw, Chief Executive of the Association of Financial Mutuals commented: “We are delighted to announce Majesco as the latest associate member of the Association of Financial Mutuals. Majesco has previously shown support in sponsoring our annual conference and AGM and we are pleased to cement this relationship further by granting Majesco associate membership. We believe that their wide range of thought leadership, from webinars to white papers, will be of great benefit to our members. We look forward to working with Majesco and using the best of their knowledge and skills around technology to help to educate and support our members.”

Norman Carroll, Managing Director,  Majesco Europe commented: “We look forward to teaming up with the Association of Financial Mutuals and their members.  We are committed to providing technology, expertise and leadership that will help the UK mutuals industry modernise, innovate and connect to the future of their business. We expect that by collaborating with the Association of Financial Mutuals we will be able to learn a great deal more about the industry and facilitate mutuals in learning more about the future of insurance and how it can be achieved with technology.”

 

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.

 

About Association of Financial Mutuals

The Association of Financial Mutuals is the trade body that represents mutual and not-for-profit insurers, friendly societies and other financial mutuals across the UK.

A financial mutual is an organisation that supplies financial services products, and which is owned by its customers, or members. That means there are no shareholders to pay dividends to or account to, and a mutual can concentrate entirely on delivering products and services that best meet the needs of its customers. Between them, mutual and not-for-profit insurers manage the savings, pensions, protection and healthcare needs of over 30 million people in the UK and Ireland, annual premium income of £19.6 billion, and nearly 30,000 employees (source: www.ICMIF.org).

AFM is committed to protecting and progressing the principles of mutuality through the promotion of best practice and a commitment to working together and in the interest of members, customers and other stakeholders. Find out more by visiting www.financialmutuals.org.

 

For further information please contact:

Association of Financial Mutuals
Tamasin Larocque-Fathers
Administrative Officer
Association of Financial Mutuals
Mobile: 07741 656605
www.financialmutuals.org

 

Majesco
Sharon Cronin
EMEA Marketing Manager
+353 86 3584766
sharon.cronin@exaxe.com

Kookmin Best Insurance Company Is Live with Majesco P&C Core Suite on CloudInsurer™, Majesco Digital1st Electronic Billing and Payments™, and Majesco Enterprise Data Warehouse

Morristown, NJ – September 3,  2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Kookmin Best Insurance Company US Branch (KBICUS), the US operation of KB Financial Group based in South Korea, is live with Majesco P&C Core Suite on CloudInsurer™, Majesco Digital1st Insurance Electronic Billing and Payments, and Majesco Enterprise Data Warehouse.

With an A.M. Best Rating of A (Excellent), KBICUS provides top class insurance services to small and mid-sized businesses throughout CA, NJ and NY. Headquartered in Ridgefield Park, New Jersey, with a branch office in Glendale, California, KBICUS provides commercial insurance, including business owners policy and commercial property and umbrella coverage.

“KBIC US is focused on becoming the industry’s leader in terms of customer value. Because of our close relationships with customers, KBIC US has a better understanding of their unique, diverse needs and wants and can design our products accordingly, and with a multicultural and multilingual perspective in mind,” commented Christopher Kwon, President at KBIC US Branch.  “We appreciate the care, effort and follow up from Majesco as we partner with them to implement the system that will help us continue to deliver the best possible products and services to our customers and their businesses.”

Majesco CloudInsurer™ is helping insurers take advantage of new markets, new products and new paths to growth. With Majesco P&C Core Suite, Majesco is redefining speed – helping insurers transform complexity, create innovation, and meet the demands of a new generation of insurance. The suite delivers end-to-end capabilities to streamline the entire insurance lifecycle with policy through billing and claims. The powerful design allows for rapid adaptation for new, innovative products, enabling insurers to implement a new foundation for growth and innovation in as little as 12 weeks.

“We are honored to welcome KBIC to our customer community,” commented Ed Ossie, COO for Majesco. “The growth opportunities in the commercial lines of business with new, innovative products that are being demanded by small and medium business owners is just beginning. Our deep experience and knowledge of this market segment, combined with our robust capabilities is a game-changer in terms of helping companies capture these market opportunities and meet their customer’s unique needs. We are excited to be KBICUS’s partner of choice as they continue on their path of transformation and growth in today’s post digital age.”

 

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 Positioned as a Visionary in Gartner 2019 Magic Quadrant for Life Insurance Policy Administration Systems, North America

Morristown, NJ – August 28, 2019 – Majesco (NASDAQ: MJCO), a global provider of cloud insurance platform software, today announced that it has been positioned as a “Visionary” in the August 2019 Magic Quadrant for Life Insurance Policy Administration Systems, North America.

The report evaluates 12 vendors. According to the report, “This Magic Quadrant provides a lens into the North American market for life insurance policy administration systems (PASs) used by individual and group life and annuity (L&A) insurers.”

“Scalable core systems that support continuous change are critical to a stable and adaptable digital business technology platform,” says the Gartner report, authored by Richard Natale, Senior Director Analyst. “Life insurance CIOs will find it essential to lay the groundwork for the iterative evolution of their digital business technology roadmap by modernizing their core systems.”

The report notes, “essential characteristics of modern core system that can support digital business include:

  • Low-code product and system configuration with ease of self-sufficiency to configure the system rapidly without overreliance on the vendor
  • An SOA that supports continuous integration using technologies common to all life insurance business models — such as APIs and an enterprise service bus (ESB)
  • SaaS or off-premises deployment options that support a multi-cloud, hybrid systems portfolio
  • Continuous integration/continuous delivery that provides seamless and frequent upgrades
  • Digital accelerators, including business intelligence (BI) capabilities, with an array of dashboards and key performance indicators (KPIs) that assist with decision making, and portal capabilities to deliver a multichannel, intuitive user experience configurable for different distribution channels and devices”

“We believe core platform systems are the operational foundation on which insurance companies run their business. Today’s life insurance companies need a cloud business platform with digital capabilities that enable business transformation and the ability to launch new products to market in days and weeks versus years.  Majesco has aggressively focused on innovation to help our customers shape the future of their businesses and the industry at speed and scale,” said Majesco CEO Adam Elster. “We’re honoured to be named a Visionary by Gartner in the Magic Quadrant for Life Insurance Policy Administration Systems, North America. We feel it’s a testament to Majesco’s innovative technology, backed by an incredibly talented team with unparalleled industry expertise, domain knowledge and customer focus.”

Over the past year, Majesco introduced a number of enhancements to its L&A and Group Core Suite, focusing heavily on speed to value and ensuring best-in-class core processing capabilities under a single platform. Majesco customers can now take advantage of pre-configured insurance products with 3500+ capabilities and 5000+ rules and workflows, new and improved UX for improved user experience, 1200+ APIs, 500+ events and 70+ ACORD services with several other pre-defined integration points to support current products or launch new products.

“Majesco L&A and Group Core Suite brings a host of exciting, innovative capabilities to life, group and annuities insurance, such as an AI-powered group sales process to deliver a digital RFP, an AI bot-driven conversational UX for navigation, and an always straight through processing approach to speed up transaction processing individually or across multiple points.   These significant enhancements demonstrate the strategic value of the product and our commitment to innovation and market leadership for our life, annuities and group insurance customers, and we believe this was ultimately reflected by our move to the ‘Visionaries’ Quadrant in the 2019 Gartner report,” commented Majesco President and Chief Product Officer Manish Shah.

Majesco L&A and Group Suite supports all individual, group and voluntary benefits on a single platform, recognizing that growing and retaining customers, regardless of where they originate, is critical to insurers’ growth strategies. The suite provides essential core system capabilities for policy, billing and claims. The powerful design allows for rapid adaptation for new, innovative products or benefit plans, giving insurers the power, flexibility and speed needed to capture opportunities and create profitable growth.

 

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 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 harbour” 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 (SEC) 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 Present At 7th Annual Insurance Canada.ca Executive Forum

Morristown, NJ – August 27,  2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that SVP of Strategic Marketing and Innovation and Top 50 InsurTech Influencer Denise Garth will present at the 7th Annual Insurance Canada Executive Forum in downtown Toronto on August 28, 2019.

Insurance Canada.ca Executive Forum brings together industry thought leaders, pioneers who are taking advantage of new models and platforms, and businesses with products and services to help insurers compete in today’s market. The theme for this year’s forum, ICEF 2019, is “Insurance in the Platform Economy.”

In her presentation, Denise will talk about leadership and speed to accelerate a path to the future of insurance – a future where the roles for insurers and their customers have reversed, and the onus is on the insurer to meet the rapidly changing demands of their consumers. “Our research clearly shows a growing customer expectation for innovative new products that meet their needs and align to their digital behaviors, particularly millennials and Gen Z, creating new growth opportunities for insurers who can effectively respond,” commented Denise Garth, SVP of Strategic Marketing, Industry Relations and Innovation at Majesco.  “We are in a time of disruption, with customer needs changing fast. Some insurance leaders are aggressively responding. But others are responding slowly or not at all. Getting out ahead of the curve is more important than ever. Leadership matters. Speed matters.”

Majesco CloudInsurer™ P&C Core Suite, L&A and Group Core Suite, and Digital1st Insurance™ platforms are helping insurers take advantage of new markets, new products and new paths to growth. Majesco customers are already using these solutions to introduce new rideshare, cyber and on-demand agriculture products, as well as new business models through greenfield or InsurTech startups in 12 weeks or less. They are raising the bar for insurance, and proactively building their business for the future to capture a new generation of customers with significantly different needs and expectations.

 

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.

New Report Highlights Critical Developments That Are Accelerating Transformation in the Insurance Industry

Morristown, NJ – August 20, 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, The Future of Insurance: Optimization, Growth and Innovation.

The report highlights the forces that have been putting tremendous pressure on insurance to transform to a digital, outside-in, customer-first industry, accelerated by the rise of InsurTech beginning in 2015.  By taking a two speed strategy, by modernizing and optimizing the business for speed of operation and by creating a new business of the future for speed of innovation, insurance leaders are creating innovative products, services and business models by redesigning organizational and business model structures.  These leaders are embracing digital technology and data and analytics to better understand, underwrite and service their customers with tailored products and services that are more personalized than ever and meet the under- or unmet needs of a rapidly changing market.

As noted in Majesco’s Strategic Priorities research, incumbent insurers who are embracing the changes and new opportunities – the Leaders – are advancing at a greater pace than Followers and Laggards, putting them at increasing risk of irrelevance.  But new developments in the regulatory front may be what is needed to give a push to Followers and Laggards.

“This pace of innovation and change is challenging insurers and regulation,” commented Denise Garth, SVP of Strategic Marketing, Industry Relations and Innovation at Majesco. “As InsurTechs and Insurance leaders create new business models, products and services to meet rapidly changing customer demands and expectations, we are beginning to see the shifting views and actions by regulators and rating agencies.  Whether to meet the new customer expectations, making sure new risks are appropriately covered, or ensuring the viability of insurers in this changing world, regulators and rating agencies are increasingly engaged in shaping a new era of innovation and the future of insurance.   These actions will accelerate innovation for the industry in positive ways, setting a new bar for all insurers seeking market leadership.”

The first of these actions is with the proposed AM Best Innovation rating as a component of the annual rating process.  The second is the Sandbox concept originally proposed at the NAIC, now being adopted by several states to promote and support innovation within the insurance industry.  This cohesive blend of innovation and regulation is yet another forceful driver that will help reinvent the insurance industry.

The report goes on to provide guidance to companies on how to adapt and respond to the pace of change, using a Two-Speed Strategy that embraces both the transformation of existing insurance operations and the launching of new business models or products:

  • Speed of Operations for the traditional business model with mature systems and processes needing incremental operational improvements through modernization and optimization using modern cloud and API-based modern solutions;
  • Speed of Innovation for agile, fast and MVP models to explore, test and learn from new business opportunities – many in 12 weeks or less – by creating the new business for the future using next-generation native cloud, microservices and API-based solutions.

The time for plans, preparation, and execution is now — recognizing that the gap is widening and the timeframe to respond is closing.  Leaders are adopting new technologies, business models and products at an increasing pace.  Leaders, as early adopters, are positioned to succeed.  Time will tell if Followers and Laggards will survive.

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.

Majesco Announces Future of Insurance: Ecosystem Partners Podcast Series

Morristown, NJ – August 13, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced the launch of their Future of Insurance: Ecosystem Partners Podcast Series.

In each episode, host Denise Garth, SVP of Strategic Marketing and Innovation at Majesco, talks to business leaders from InsurTechs and other innovative companies about how they’re partnering with Majesco and the industry to bring exciting technologies like chatbots, IoT, new data sources, AI/machine learning and others to insurance – and why these partnerships are rapidly becoming the way of the future.

How has InsurTech changed over the last three years and what has been the impact for insurance? 

How are you thinking about the future of insurance?

How can insurers create a vision to survive and thrive these paradigm shifts?

“At Majesco we continue to identify ways to provide thought provoking, engaging, inspiring and challenging insights on the fast-paced, always-changing insurance industry,” says Denise Garth. “The insurance industry has a community of innovative thinkers and influencers that we are collaborating with to reshape the future of insurance.  Each 15 to 20 minute episode is full of engaging conversation that offers listeners a wealth of insights and ideas to meet the demands of tomorrow, today.”

Details of the first three podcasts are below:

Episode 1: Bob Frady, CEO of HazardHub

In this episode, Majesco’s Denise Garth talks to Bob Frady, CEO and Cofounder of HazardHub, an innovative InsurTech and Majesco ecosystem partner that creates easy-to-consume, leading-edge geospatial, hazard, and risk data.

Episode 2: Karolina Congdon, Manager of Partnerships & Alliances at SPLICE

Denise Garth talks to Splice’s Karolina Congdon about the value of partner ecosystems in insurance, and how leveraging APIs to partner with InsurTechs and other innovative companies to bring exciting new capabilities to insurance is rapidly becoming the way of the future.

Episode 3:  Suzanne Monaco, Director of Strategic Alliances at CyberSource, a Visa Solutionv

Denise Garth and Suzanne Monaco discuss millennials and Gen X, the future of billing, and the companies who are embracing new technology and change – the ones who are actively driving forward the paradigm shift we’re seeing in the insurance industry.

You can access all the podcasts and other valuable thought leadership resources, including primary research, blogs, webinars and more on 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.

Majesco Reports Revenue, EBITDA and Sales Growth for First Quarter Fiscal 2020 Financial Results

First quarter revenue of $37.3M up 10% year over year

First quarter EBITDA margin of 12.7% up 35% year over year

Cloud revenue now represents 37.4% of total revenue

Morristown, NJ – August 7, 2019 – Majesco (NASDAQ: MJCO), a global provider of cloud insurance platform software, today announced solid financial results for the fiscal 2020 first quarter that ended June 30, 2019.

“Our first quarter financial results reflect the ongoing momentum of our product focus and cloud strategy”, said Adam Elster, Majesco’s CEO.  “The number of cloud customers continues to grow, and our customers are benefitting from dramatically reduced project implementation timelines. These trends clearly demonstrate Majesco’s ability to rapidly deliver time-to-value to our customers while providing a modern platform for insurers to innovate new products and business models. This is the foundation for our long-term growth as we acquire, adopt and expand customers.”
 

Key Revenue Drivers

  • Revenue from cloud-based customers was $13.9 million (37.4% of total revenue) for the quarter ended June 30, 2019.
  • Total number of cloud customers is now 58.
  • Total recurring revenue was 32.5% of total revenue for the quarter ended June 30, 2019.
  • Majesco’s 12-month order backlog as of June 30, 2019 was $98.7 million.
  • We added 4 new cloud customers organically for the quarter ended June 30, 2019.

 

First Quarter 2020 Financial Results

  • Revenue was $37.3 million, compared to $34.0 million for the same period last fiscal year.
  • Gross profit was $19.9 million (53.3% of revenue), compared to $15.9 million for the same period last fiscal year.
  • Research and development (R&D) expenses were $5.5 million (14.7% of revenue), compared to $4.8 million for the same period last fiscal year.
  • Selling, general and administrative (SG&A) expenses were $11.8 million (31.7% of revenue), compared to $9.3 million for the same period last fiscal year.
  • Adjusted EBITDA was $4.7 million (12.7% of revenue), compared to $3.5 million for the same period last fiscal year.
  • Net income was $1.3 million, or $0.03 per diluted share.

EBITDA and Adjusted EBITDA are non-GAAP measures. Reconciliation tables of EBITDA and Adjusted EBITDA as used in this press release to GAAP are included in the financial section of this press release.
 

Balance Sheet Highlights

  • Majesco had no debt and cash equivalents (including short term investments) of $33.0 million at June 30, 2019, compared to net debt of $1.6 million for the same period last fiscal year.

 

Other Highlights

  • Majesco launched new brand, website and vision for the future of insurance
  • Majesco broke attendance records at Convergence 2019, the company’s annual customer conference
  • Majesco announced the release of P&C Core Suite v11
  • Majesco announced the release of L&A and Group Core Suite v11
  • Majesco and DataRobot announce a partnership to bring AI and machine learning to insurance
  • Majesco appointed Finance and Operations expert Wayne Locke as new CFO
  • Majesco hosted its annual Investor/Analyst Day at the brand-new Nasdaq MarketSite in New York highlighting the company’s growth strategy, product roadmaps and market opportunity
  • Majesco and Capgemini became Alliance Partners
  • Majesco CEO Adam Elster presented at Needham & Company’s Emerging Technology Conference and B. Riley’s Annual Investor Conference

 

Conference Call and Webcast Information

Majesco management will conduct a live teleconference to discuss Majesco’s fiscal 2020 first quarter at 8:00 a.m. ET on Thursday, August 8, 2019.  Anyone interested in participating should call 855-327-6837 if calling from the U.S., or 631-891-4304 if dialing internationally.  A replay will be available until August 22, 2019, which can be accessed by dialing 844-512-2921 within the U.S. and 412-317-6671 if dialing internationally.  Please use passcode: 10007431 to access the replay.  In addition, the call will be webcast and will be available on the Company’s website at www.majesco.com or by clicking here.
 

Use of Non-GAAP Financial Measures

In evaluating our business, we consider and use EBITDA as a supplemental measure of operating performance. We define EBITDA as earnings before interest, taxes, depreciation and amortization. We present EBITDA because we believe it is frequently used by securities analysts, investors and other interested parties as a measure of financial performance.  We define Adjusted EBITDA as EBITDA before stock-based compensation.

The terms EBITDA and Adjusted EBITDA are not defined under U.S. generally accepted accounting principles, or U.S. GAAP, and are not a measure of operating income, operating performance or liquidity presented in accordance with U.S. GAAP. EBITDA and Adjusted EBITDA have limitations as an analytical tool, and when assessing Majesco’s operating performance, investors should not consider EBITDA or Adjusted EBITDA in isolation, or as a substitute for net income (loss) or other consolidated income statement data prepared in accordance with U.S. GAAP. Among other things, EBITDA and Adjusted EBITDA do not reflect our actual cash expenditures. Other companies may calculate similar measures differently than Majesco, limiting their usefulness as comparative tools. We compensate for these limitations by relying on U.S. GAAP results and using EBITDA and Adjusted EBITDA only as supplemental.
 

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 harbour” 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 (SEC) 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 Contacts:

Investor Contact

SM Berger & Co
Andrew Berger
+216 464 6400
andrew@smberger.com