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Majesco Insights Report Accentuates the Transformative Power of Analytics for Distribution Management

Majesco Insights Report Accentuates the Transformative Power of Analytics for Distribution Management

Press Release

Morristown, NJ September 29, 2015: Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today published an insights white paper on distribution management, A Path to Insurance Distribution Leadership: New Channels and New Data for Innovative Outcomes. The report assesses the changing landscape of insurance and how analytics can play a vital role in transforming distribution management to meet these changes. Insurance providers investing in data analytics can uncover an array of opportunities across all areas of distribution management helping to reshape and make it more efficient and effective. The report incorporates perspectives from C-level executives who participated in a Majesco roundtable on distribution management in late June.

Kayzad Hiramanek, COO, Avantha ERGO Life Insurance stated “Distribution management is undergoing significant change, demanding greater insight through analytics. There are three things that are important to consider. The first one is the veracity of data, are we capturing the right data. The second is the velocity at which data is changing—how often is the customer transacting with me. Lastly—the variety of platforms and channels that a customer uses for transactions. Are we capturing all the data so we can gain greater insight on our customers and their channel preferences? ”

“Distribution management is resurging as a critical, strategic capability at a time when channel options are expanding and customers are seeking channel choice, depending on the situation, product or transaction,” commented Denise Garth, Senior Vice President Strategic Marketing for Majesco. “All of this brings new levels of complexity for distribution management, which with the combined power of modern distribution management solutions and analytics, insurers can unlock new insights to help deliver enhanced value to both customers and optimize their channels.”

Other key findings include:

  • Analytics has emerged as a strategic tool to transform the insurance business across its entire life cycle, including distribution management.
  • Distribution management is a unique cogwheel of the enterprise, positioned to influence transformational changes that impact the entire organization. The use of analytics when approached strategically and deployed operationally, can deliver real business benefits including organization-wide efficiency, profitability, agility, and time-to-market, while strengthening both customer and distribution experience and relationships.
  • Data analytics is more than just an enabler when it comes to insurance distribution. It is weaving itself into every aspect of the business from sales to marketing to customer engagement, and transforming them for the better.

 

 

The insights report, A Path to Insurance Distribution Leadership: New Channels and New Data for Innovative Outcomes,   is available on the Majesco website to download or send an email to info@majesco.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 majesco.com.

 

Majesco Contact:

Majesco
Ashwin Rodrigues
Director — Global Marketing
Phone: +1-973-461-9087
Email: ashwin.rodrigues@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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