Morristown, NJ – September 22, 2015 – Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today announced that one of the US leading insurance brokerage firms which distributes a large portfolio of diversified insurance products and services has selected Majesco Policy and Majesco Content and Bureau Services to launch a new book of business within 30 days.
Majesco Policy is pre-defined and integrated with ISO bureau content 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. We expect that the new platform will further enable them to offer their clients new products quickly in a fast-changing market.
Ketan Mehta, CEO and co-founder of Majesco commented, “Flexibility, adaptability and speed to market continue to redefine leaders in the insurance market and we are thrilled to be the partner of choice for those leading this market transformation. We are excited to have this leading insurance brokerage join our growing and diverse base of customers which highlights the flexibility and robustness of our solutions.”
“Speed to market for new products is increasingly a strategic competitive factor for the insurance industry to capture market opportunities and drive growth,” said Manish Shah, EVP Products for Majesco. “The complexity of commercial and ISO based products has long been an inhibitor to product innovation and growth, but with Majesco’s pre-integrated and pre-defined products for all 50 states, we have innovated and simplified the environment to enable rapid product innovation and introduction to meet new market needs and help insurance companies seize growth opportunities effectively and efficiently in this fast-changing market.”
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.
Director — Global Marketing
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.