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Press Release

Majesco Congratulates MMG Insurance On Receiving the NAMIC Award In Innovation

Press Release

The award recognizes MMG’s innovative approach to talent attraction, development, and retention at a time of rapid growth, amid a growing skills gap related to technology disruption in the insurance industry.

Morristown, NJ – July 9, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced their congratulations to MMG Insurance for receiving the NAMIC Award in Innovation. The award was created by NAMIC to recognize mutual insurers that exemplify the vision and entrepreneurialism it takes to stay relevant in changing times. MMG was selected based on their innovative approach to talent attraction, development, and retention.

“We congratulate the MMG team on this tremendous recognition of their vision and execution,” commented Ed Ossie, COO of Majesco.  “MMG Insurance is demonstrating how a growing mutual insurer can have innovation plans built around the right people, the right leadership, and the right solutions.  MMG has managed to attract, retain and develop top technology talent, and we’ve seen this reflected in how they’re innovating around data and analytics with our Enterprise Data Warehouse solution, and leveraging our P&C Core Suite and Digital1st Insurance™ platforms in the cloud to modernize, optimize and grow their business.  We are honored to be their partner.”

In presenting the award, Chuck Chamness, NAMIC's President and CEO, remarked: "Throughout the United States, businesses are scrambling to fill jobs left behind by retiring baby boomers. This talent shortage has moved the property/casualty insurance industry to the forefront of creating new and innovative ways to attract young people to the industry, all the while developing leadership skills within current employees to prepare them for the future. The creative and effective strategy employed by MMG to build its employee and leadership base is a great example for the insurance industry and the business sector as a whole."

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.

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