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Majesco Releases Report on the Power of Analytic-Driven Decisions and Actuarial Opportunities

Majesco Releases Report on the Power of Analytic-Driven Decisions and Actuarial Opportunities

Press Release

Morristown, NJ August 9, 2016 Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today published a new thought leadership report, Accelerating Actuarial Processes.  The report highlights the expanding role of actuaries in insurance as disruptive forces demand greater analytic-driven decisions, and how to fully leverage the talents of actuaries.  The report outlines an approach to overcome existing organizational constraints to effectively prioritize, plan and implement actuarial innovation.

“Insurance has been, and still is, one of the most data intensive industries, and actuaries have a rapidly growing opportunity to help insurers liberate their data and innovate to respond to market opportunities and challenges,” noted Bill Freitag, Executive Vice President, Consulting at Majesco. “With the rapid changes in the insurance market due to changing demographics, expectations, technology, expanding data and emerging new risk, the pressure of changing market boundaries is expanding the contributions and focus of actuaries.  Unfortunately, many companies have unintentionally built shackles over the years, such as lack of enterprise data management that impede actuaries to innovate and help companies respond to the market opportunities.”

The report outlines that for many companies, the lack of an overall data strategy and enterprise data management inclusive of consistent data definitions, formats and levels of granularity; cohesive operational data stores and data lakes; and automated processes for extraction and transformation of data are foundational elements for insurers today.  Without them, insurers are unable to unlock their data, let alone work with new data sources such as internet of things, telematics, social and more.  Breaking down these barriers is much like a reengineering process and must begin with a holistic understanding of the current business architecture and the roles that actuaries play in it

The new thought leadership paper, Accelerating Actuarial Processes, is available on the Majesco website to download, or you can request a copy via email, info@majesco.com.

 About Majesco

Majesco enables insurance business transformation for approximately 150 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.

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.