Press Release
Morristown, NJ – December 8, 2015 – Majesco (NYSE MKT: MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today announced that Arun Kalyanaraman, Majesco’s Director – Product Management and Innovation, will be a Co-Chair for the ACORD Employee Benefits Standards Working Group, joining Edie Bice of UNUM.
“Representation from a Solution Provider will be essential to the success of the Employee Benefits Working Group. Arun’s deep knowledge of the Employee Benefit space, as well as his understanding of new business, underwriting, distribution and policy administration is extremely valuable in helping develop standards to meet the needs of this industry,” said Sandy Hampel, ACORD Director of Life & Annuity Implementations. “Majesco demonstrates their dedication and commitment to streamlining and simplifying this industry through the utilization of ACORD Standards.”
“I am excited and honored to be part of this effort for the industry, providing experience and insights on the challenges and opportunities to help group insurers achieve easier and faster information sharing to deliver competitive advantage,” commented Arun Kalyanaraman, Director – Product Management and Innovation for Majesco. “I look forward to working with ACORD and the working group to drive the development quickly, allowing the industry to benefit and succeed.”
Majesco has a long and extensive background in the employee benefits market across multiple regions globally. Majesco Policy for L&A and Group supports individual and group benefit products—including true group, voluntary benefits, and worksite—on a single instance of a single platform, supporting all tiers of individual and group insurers for life, annuity, disability, and other non-medical health products.
Further commenting, Chad Hersh EVP of L&A for Majesco stated “Driving out the next generation industry data standards to support the diverse and growing product distribution channels for employee benefits is critically important for Group insurance companies in a fast-paced changing market. We are committed to providing leadership to the industry to help insurers leverage technology, standards and data to capture the opportunities emerging.”
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.
Majesco Contact:
Majesco
Ashwin Rodrigues
Director — Global Marketing
Phone: +1-973-496-9087
Email: ashwin.rodrigues@majesco.com
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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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