Press Release
Morristown, NJ – January 14, 2016: Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, and Appulate, the leading provider of forms parsing and data bridging technology, announced a strategic partnership in which Majesco will offer Appulate Uplink™ as an integrated component of Majesco Policy for P&C and Majesco Distribution solutions. The partnership will offer Majesco customers best-of-breed connectivity to any agency management system, improving efficiency and quality while reducing agent data entry. In turn, Appulate will gain a distribution partner that offers market leading solutions for policy and distribution management for insurance carriers.
“With this partnership, Majesco is able to offer its customers an effective and affordable turnkey solution for agent connectivity that will strengthen agent channel relationships while streamlining the insurance placement process to support evolving customer engagement strategies,” said Ed Ossie, COO for Majesco. “Adding Appulate to our partner ecosystem enhances our solution as we help our customers adapt to the changing distribution channel demands and customer expectations.”
“The industry has been vocal about the need to increase connectivity between stakeholders in the quoting process and through this partnership, we are able to offer Majesco customers a great way to do that,” said Dimitri Nikouline, Chief Technology Officer and Co-Founder at Appulate.
Uplink is a versatile middleware product that can either bridge data from the agent’s internal management software or be used by a carrier as a back-office forms parsing tool. It allows ACORD data to be more easily moved throughout the submission workflow to improve efficiency, and reduce the time associated with completing carrier application forms without the costly transaction fees associated with other solutions. When integrated with Majesco, the solution provides carriers with a complete insurance distribution system that automates the entire submission workflow from quote generation to binding and issuance.
Majesco Policy recognized as a market-leading solution is pre-defined, integrated, and maintained for ISO bureau content via Majesco Bureau and Content Services for all lines of business and states, enabling speed to market opportunities for insurance companies to introduce new products and reach new markets quickly and cost effectively to capture market share. Majesco Distribution Management is a standalone, modern solution designed to enable insurance carriers to manage the entire distribution landscape with comprehensive business capabilities that enable diverse channel options, support the increasing need of an multi-channel environment, effectively administer a range of distribution channels and producers from registration to termination, compensation and performance management, and launch innovative contests and personalize payment schedules for producers to help drive business growth.
About Appulate
Founded in 2005, Appulate offers an unprecedented level of connectivity to streamline business processes through its innovative abilities to bridge data between insurance systems. The combination of our advanced technology, outstanding level of service and high value proposition have made us one of the fastest growing technology companies that serve the insurance industry.
Visit Appulate at www.Appulate.com
About Majesco
Majesco enables insurance business transformation for approximately 140 insurance customers by providing solutions which include software, consulting and services.
Our customers are insurers, MGA’s and other risk providers from the Property and Casualty, Life, Annuity and Group insurance segments worldwide. Majesco delivers proven software solutions, consulting and services in the core insurance areas such as policy, billing, claims, distribution management, BI/ analytics, digital, application management, cloud and more. For more details on Majesco, please visit www.majesco.com.
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.