Skip to content

Majesco Announces Expanded Capabilities to Majesco Digital1st Insurance® to Accelerate Insurers’ Digital Transformation

Majesco Digital1st Insurance® is a cloud-native, microservices-based digital experience platform with a low code / no code configurability and a robust API and partner ecosystem apps

Morristown, NJ January 14, 2020 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced the availability of expanded capabilities of Majesco Digital1st Insurance® to evolve and accelerate insurers’ business and technology models in their digital transformation.

“The demands of agility, speed and innovation are accelerating as we enter a new decade,” stated Adam Elster, CEO of Majesco.  “To succeed in the future of insurance, which is coming faster than most realize, insurers must lay the groundwork of a new digital insurance business model.  Future market leadership and success will be defined by focusing on the customer experience, business innovation, and technological leadership.”

Majesco research notes that a top motivator for digital transformation is driven by customer and distribution channel expectations of a much improved experience and ranks as a top strategic initiative.  They are looking to new platforms with rich and robust capabilities that will enable speed of innovation to reimagine their future as digital insurer.

“We have strategically focused on the intersection of business and consumer technology trends that are relevant to the insurance industry,” stated Manish Shah, President and Chief Product Officer for Majesco.  “Majesco Digital1st Insurance® enables insurance industry to accelerate their digitalization journey through new ways of designing and delivering compelling customer experiences.  We are committed to provide a robust, rich set of capabilities, underpinned by an innovative architecture and technology to support the industry’s continued digital transformation.  The variety of uses by customers today highlight the flexibility and innovation that can be delivered rapidly.”

Majesco Digital1st Insurance® provides a powerful platform that can be leveraged through a wide variety of use cases ranging from high-fidelity portals over core systems to well-rounded omni-channel and omni-device customer and agent experiences enriched through heterogenous capabilities available through APIs.

The new and expanded capabilities are targeted to further improve the speed and agility, customer experience, connectivity to third party APIs, expanding ecosystems and more. These latest improvements are evidence of Majesco’s commitment to our Digital Platform with relentless innovation.  The latest update, representing a series of monthly software updates includes:

Notable User Interface Experience Updates:

  • 1 compliance to support Digital Accessibility
  • Notification Widgets
  • Processing Status Widget
  • Multi-media Carousel Widget
  • Autocomplete Dropdown with third-party data API integration hooks
  • Popup Menu Action Widget with dynamic list of actions
  • Native Payment Widgets pre-integrated with Visa CyberSource, Chase Paymentech and PayPal gateways
  • Enhancements to several existing widgets for configuring animations

New API Management Capabilities:

  • No-code API definition and configuration of external APIs through wizard-based imports
  • New API Plug-in to create and publish a new API without writing a single line of code.
  • 50+ pre-packaged public domain APIs such as Twitter, Facebook etc. ready to be used in configuring digital experiences

Usage Analytics:

  • Events Funnels powered by Google Analytics to understand usage patterns for applications for test-n-learn apps as well as A/B testing

Smart Connector for Majesco Policy for P&C:

  • Fully eliminates need for integrating Majesco Policy for P&C APIs resulting into 5x improvement in building core-enabled digital apps
  • Automatically synchronize and validate data bi-directionally between Majesco Digital1st Apps® and Majesco Policy for P&C utilizing Majesco P&C Core APIs
  • Intelligently optimize number of calls between Majesco Digital1st® and Majesco Policy for P&C by reducing chattiness but provide the best real-time experience

Majesco Digital1st EcoExchange® Expansion:

  • 15 more partner apps now available on Majesco Digital1st EcoExchange® with 50 more coming soon

Majesco Digital1st Electronic and Billing Payments (EBP) App® Updates:

  • Easy access to invoice and payment history
  • Warning message for policies under notice
  • Policy terms displayed in the policy card section
  • Administrative dashboard with usage information helping to understand the customer experience and user adoption

“Insurers increasingly understand that being a digital company requires an outside-in customer perspective,” stated Karen Furtado, Partner at Strategy Meets Action.  “While many insurers have a digital strategy, bringing that strategy into action demands next gen technology platform to enable new business processes, products, services, and channels relative to the customer experience and new insurance business model. Solutions such as Majesco’s Digital1st Insurance® provides a platform that enables insurers to rethink digital insurance customer experiences.”

 

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, as amended by its Quarterly Reports on Form 10-Q.

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.

Texas Farm Bureau Insurance Upgrades Majesco Policy for P&C on Majesco CloudInsurer® to Strengthen Agility and Speed to Market

Morristown, NJ December 17, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Texas Farm Bureau Insurance upgraded to the newest version of Majesco Policy for P&C and moved from on-premise to Majesco CloudInsurer® to strengthen their agility and speed to market.  The move to the SaaS model will deliver content, speed and scalability for their commercial lines operation, including umbrella, commercial property and general liability.

“Texas Farm Bureau Insurance’s original selection and implementation of Majesco Policy for P&C has proven to be strategically important,” commented Craig Daughtery, Vice President of Underwriting for Texas Farm Bureau Insurance.  “The continued rapid market changes and our ability to quickly adapt to them will be strengthened even further with this upgrade and move to the cloud.   Majesco’s commitment to next generation technology will provide us leading-edge business capabilities that will strengthen our commitment to customer service excellence.  We look forward to our deepening and expanding partnership with Majesco.”

Texas Farm Bureau Insurance has been protecting Texans since 1952 with a mission to help their customers manage the financial risks of everyday life.  For eight consecutive years Texas Farm Bureau Insurance has been ranked “Highest Customer Satisfaction among Auto Insurers in Texas” by J.D. Power.

“We are excited and honored to be working with Texas Farm Bureau Insurance and supporting them in their upgrade to CloudInsurer®,” said Prateek Kumar, EVP for Majesco.  “The unique and evolving market needs of Texans highlight the strategic value of our platform to deliver agility, innovation and speed to value.  Our continued move of customers to our latest version and CloudInsurer® highlight the rapidly growing value of our next generation platform in a new era of insurance.  We are thrilled to have Texas Farm Bureau Insurance join our rapidly expanding Cloud customer community.”

 

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, as amended by its Quarterly Reports on Form 10-Q.

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.

 

Texas Farm Bureau Insurance received the highest score in Texas in the J.D. Power 2012-2019 U.S. Auto Insurance studies of customers’ satisfaction with their auto insurance provider. Visit jdpower.com/awards

Announcing General Availability of Version 11 of Majesco Distribution Management Platform

The new version includes cutting-edge capabilities and innovative features to accelerate insurers’ ability to modernize, optimize and create a new future of insurance

Morristown, NJ December 10, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced the general availability of version 11 for the Majesco Distribution Management platform.  This follows the announcement for V11 of P&C Core Suite and L&A and Group Core Suite on October 28, 2019.

“Insurers across P&C and L&A and Group are focused on growth strategies through traditional agent and broker channels as well as new channels such as marketplaces, white-labelling partnerships, banks, and more but are challenged in effectively engaging, managing and optimizing these channels due to legacy compensation systems designed for a different era of distribution,” stated Eric Bustos, Vice President of Distribution Management Practice at Majesco.  “With the proliferation of new channels and the consolidation of agent and broker channels, insurers must meet the unique needs of these diverse channels with more innovative, forward-looking channel management, compensation and on-boarding capabilities.  Majesco Distribution Management provides a new platform that brings digital, distribution and data together for a new era of insurance to help insurers optimize and grow their business.”

Major changes in customer behaviors and expectations, particularly among the next generations of insurance buyers, Millennials and Gen Z, require insurers to offer a multi-channel ecosystem of options including agents, brokers, marketplaces, embedding insurance in other businesses at the point of sale, integrating with comparison sites and direct distribution.  The diversity of these channels, require new, innovative digital, distribution and data capabilities to create a sustainable competitive advantage and drive growth.

“Today’s insurers must rethink their distribution management organization and solutions to manage the variety and uniqueness of a growing diversity of channels to not only modernize their operation but optimize it to support their growth strategies,” stated Mike Fitzgerald, Senior Analyst at Celent.  “Insurers need to consider not only the core distribution capabilities, but also the digital and data needs to fully optimize these channels to drive ease of doing business them.”

“Majesco is aggressively investing and delivering on our vision to help insurers build the future of their multi-channel businesses.  This new version of Majesco Distribution Management brings a channel-centric view across all lines of business and channels to leverage ideas, innovations and capabilities delivered on a mature cloud environment with Majesco CloudInsurer®” commented Manish Shah, President and Chief Product Officer at Majesco.

This release highlights Majesco’s continued strategic investment in the distribution management solution to enable insurers to optimize their distribution channels with rich digital, distribution and data capabilities.  Some key elements include:

  • Multi-Channel Enablement – With the robust hierarchy and compensation schemes, insurers can quickly expand to new channels and enable cross-channel management.
  • Compensation Schemes – Expanded capabilities will support current and forward-looking schemes from transactional, to event-based, KPI based schedules, incentive and innovative new schemes to drive channel optimization and growth.
  • Enhanced Onboarding and Compliance – Automated credentialing, licensing and appointments, E&O expiry notification, license expiry notification and enhanced processing for promotions and demotions.
  • Performance and Relationship Management – Enhanced KPI and benefits including automatic evaluation of benefit scheme based on evaluation frequency, state specific requirements, and more.
  • Robust API Catalog and API Gateway – Over 100 0 compliant APIs covering all major functions such as NIPR integration, producer outstanding dues, producer payment inquiry, application background check available over an enterprise gateway servicing all APIs with enterprise monitoring and servicing feature for Majesco CloudInsurer®
  • Fully Cloud-Enabled – Embrace speed and agility with core suites that maximize cloud capabilities.
  • Digital Tour Guide – Contextual and interactive tutorials and guided tours of existing and newly released features for engaging and improving user adoptions and their productivity.
  • Ready-to-use Digital1st EcoExchange Capabilities – Built-In integration and configuration capability to quickly integrate with any Digital1st EcoExchange™ partner apps without coding.
  • Simple, Automated Upgrades – Seamless monthly upgrades of software and content to keep insurers compliant and at the leading-edge.

 

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, as amended by Majesco’s Quarterly Report on Form 10-Q .

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.

Aite Group Names Majesco the Top “Best-in-Class” Vendor in the P&C Policy Administration Aite Matrix Report

Aite Group recognizes Majesco’s overall vendor stability, client strength and product features with top marks for its ability to solidly perform the “day to day” and capacity to help insurers grow and evolve in an ever-changing landscape 

Morristown, NJ December 5, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Aite Group named Majesco the top “Best-in-Class” Vendor in the P&C Policy Administration Aite Matrix Report. Using the Aite Matrix, a proprietary Aite Group vendor assessment framework, the Impact Report evaluates the overall competitive position of each solution vendor, focusing on vendor stability, client strength, product features, and client services.

“Majesco has a robust platform that can meet the current needs of most carriers but that can also evolve with the changing P&C insurance world.  The modern architecture of Majesco Policy for P&C with the cloud-enabled, open-API platform, depth of out-of-the-box content, and growing partner ecosystem drives the speed to value for their customers,” says Aite Senior Analyst Jay Sarzen. “Majesco continues to enhance the API catalogue, partnership integrations that are built-in, and the modeler functionality; and recently, Majesco has added focus on AI to understand how the system can learn from the mapping and APIs that are used to automatically accept and accelerate new formats.”

Out of the 14 vendors evaluated, Majesco had the highest overall score of all vendors in the survey, achieving best in class scores in three of four categories evaluated – vendor stability, client strength, and product features.  In the latter two categories, Majesco achieved the highest scores among participating vendors.  In the report, Aite Matrix Evaluation: P&C PAS Vendors’, Aite Group explores how well PAS vendors can deliver on policyholder expectations and process efficiency by integrating external data and leveraging APIs to enhance core operational functions, such as underwriting and claim processing, and improve customers’ digital experiences.

“Majesco continues to redefine the next generation of solutions that are helping insurers transform complexity, create innovation, and meet the demands of speed in a new era of insurance,” commented Majesco CEO Adam Elster. “We are proud to be named the top “best-in-class” vendor by Aite Group in the P&C insurance technology space.  This further recognition, combined with our strong, diverse customer base, reflects the aggressive momentum of our SaaS and cloud platform solutions, helping our customers modernize, optimize and create new business models that prepare them for the future of insurance.”

Some of the capabilities highlighted by Aite Group were:

  • The exceptionally strong product features drove the high score highlighting the solutions ability to solidly perform the “day to day”, but having the capacity to help insurers grow and evolve in an ever-changing landscape.
  • The intuitiveness of the solution helps drive operational efficiency.
  • The solution hits the “sweet spot” of strong technology that is accessible and usable for business staff.
  • Majesco’s continued investment and growth provides assurance of stability and forward-thinking, making it a sound, strategic choice.

“We are honoured to be recognized by Aite Group as the top “best in class” P&C Policy Administration system. Majesco Policy for P&C is a proven cloud-enabled enterprise platform supporting various P&C lines of business, including innovative new products such as on-demand, cyber, rideshare and more,” commented Manish Shah, President and Chief Product Officer at Majesco.  “Built-on open, secure and scalable architecture and designed for continuous updates and speed to value, Majesco Policy for P&C stands apart as a powerful yet easy-to-use platform for enabling insurers, MGAs, brokers and reinsurers to seize new markets, new business opportunities and new customers in today’s dynamic and highly-competitive market. We are committed to expand this platform with more rich and innovative capabilities that’ll help our customers shape the future of their business and the future of insurance.”

For more information, view the Aite Group report at this link.

 

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, as amended by Majesco’s Quarterly Report on Form 10-Q.

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 press release. 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.

New Majesco Future Trends Report Takes a Look Back and Forward on the Disruptive Forces Transforming the Future of Insurance

The shift is intensifying and realigning fundamental elements of the insurance business, requiring us to erase the idea that we can ease our organizations into this new era with minor adjustments

Morristown, NJ – December 4, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced the release of a new research report, Future Trends – Looking Back and Leaping Forward.

The report takes a retrospective view from the first Future Trends report published nearly four years ago that discussed a major shift due to the converging “tectonic plates” of people, technology and market boundaries.  These changes are disrupting and redefining the world, industries and businesses including insurance — to where the industry is today and where it needs to leap forward for tomorrow.   Underscored within the report are the dramatically different demands of agility, speed and innovation as we enter 2020, compared to where they were in 2015. To succeed in the future of insurance, which is coming faster than most realize, insurers must lay the groundwork of a new digital insurance business model that embraces customer, technology and market boundary changes with vision, energy and speed.

“The pace of disruption and dramatic changes in the key trends of people, technology and market boundaries were in the early stages of development and experimentation in in the first Future Trends report, but their adoption and expansion have accelerated rapidly within the industry today,” commented Denise Garth, SVP of Strategic Marketing, Industry Relations and Innovation at Majesco.  “With so much disruption and change – technological revolution, fast-changing customer needs and expectations, regulatory changes such as the AM Best innovation rating and shifts to an on-demand, sharing, Gig and platform economy – the next generation of insurance leaders are aggressively adapting and responding to reinvent themselves before someone else does it for them.  The leaders creating the future of insurance are connecting current and future visions to the markets and opportunities that lie ahead.”

Tremendous changes are still on the horizon.  As we enter 2020, the future of insurance is intensifying and shifting.  Future market leadership and success will be defined by focusing on the customer experience, business innovation, and technological leadership.  Insurers must think and operate as technology-led companies, rather than insurance-product companies by leveraging new, emerging and maturing technologies to provide digitally-savvy customers with the product they want and need, recognizing that a product includes the customer experience, risk coverage and services.

These future leaders are not just innovating their business, they are disrupting their business by rethinking and reimagining the future as a digital insurer. Rather than holding onto decades of operational tradition built into their current business systems and processes, they are shifting their technological and administrative weight using a two-speed strategy – Speed of Operations and Speed of Innovation – for growth, relevance and success.  With evolving changes in regulations, from the introduction of sandbox environments to the new AM Best innovation rating, innovation barriers are being lowered and innovation is now a must-have for survival.

The thought leadership report is available to download on the Majesco website, or you can request a copy by emailing info@majesco.com.

 

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, as amended by Majesco’s Quarterly Report on Form 10-Q.

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.

Ullico Casualty Group Selects Majesco P&C Core Suite and Majesco Enterprise Data Warehouse on Majesco CloudInsurer® to Underpin Digital Transformation and Growth Strategy

Selection will drive business modernization leveraging pre-configured industry leading practices, deliver optimized and operational capabilities and enable product innovation to their customers

Morristown, NJ November 19, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Ullico Casualty Group, LLC (UCG), a wholly-owned subsidiary of Ullico, Inc., selected Majesco P&C Core Suite and Majesco Enterprise Data Warehouse on Majesco CloudInsurer® to underpin their digital transformation and growth strategy.

Ullico, Inc., founded in 1927 with initial funding from the American Federation of Labor, is the nation’s only union-owned provider of multi-line insurance, financial services and administrative products. UCG provides various commercial, business owners, cyber, bonds, fiduciary liability, union liability, and other insurance products to union pension and benefit plans, labor officials, and labor organizations for all 50 states. They have been at the forefront in providing innovative coverages for Labor such as Individual Labor Leader, Investigatory Expense, and Educator’s Liability endorsements. UCG writes policies as a Managing General Agent with multiple A.M. Best A rated insurers as of September 30, 2019.

“Over our history, Ullico has been at the forefront in providing insurance products that meet Labor’s needs. With the emergence of the digital era and rapid changes in the marketplace, we needed new technology to underpin our digital transformation so that we would be able to respond and capture growth opportunities,” stated Tina Fletcher, President of UCG. “Through a very in-depth and detailed selection process, Majesco stood out with their core suite that delivers advanced capabilities, embedded industry best practices, exceptional user experience and a mature cloud offering that would provide the platform for us to deliver a world-class customer experience and products. We look forward to our partnership with Majesco and what we will be able to deliver together to our customers.”

UCG is entering a growth period requiring modernization with a new technology platform to support growth in existing and new lines of business to meet the evolving needs of their customers while gaining operational optimization and speed to value. Key to the selection were pre-configured industry best practices and market leading capabilities, customer panoramic view of quote to underwriting, policy and claims to deliver a world- class experience, enable UCG self-sufficiency from configuration, upgrades, testing and deployment, and achieve a predictable and low total cost of ownership leveraging mature cloud capabilities and operation.

“We are excited and honored by UCG’s selection of Majesco solutions to underpin their transformation that builds on their decades of trust and innovation,” commented Prateek Kumar, EVP of Majesco.  “Our solutions have rapidly evolved to help insurers modernize and optimize their business, but also innovate with new products, services and more that meet a rapidly changing market demographic and new risk needs on our mature, robust CloudInsurer® platform. We look forward to our partnership and delivering speed of value to UCG and their customers.”

 

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 Engagement™, 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.

 

About Ullico

For more than 90 years, Ullico has been a proud partner of the labor movement, keeping union families safe and secure. From insurance products that protect union members, leaders and employers, to investments in building projects that have created thousands of union jobs, our customers continue to trust us with protecting their families, employees and investments. The Ullico Inc. Family of Companies includes The Union Labor Life Insurance Company; Ullico Casualty Group, LLC; Ullico Investment Company, LLC; and Ullico Investment Advisors, Inc. For additional information, visit www.ullico.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, as amended by its Quarterly Report on Form 10-Q.

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 press release. 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.

 

Multinational Insurance Company to Upgrade Majesco Policy for P&C from On-Premise to Majesco CloudInsurer® to Bolster their Growth Strategy

Morristown, NJ November 14, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Multinational Insurance Company based in Puerto Rico will upgrade Majesco Policy for P&C from on-premise to Majesco CloudInsurer® to bolster their growth strategy.  The move to CloudInsurer® will deliver content, speed and scalability for their commercial lines operation.  Multinational Insurance has been a customer of Majesco’s since 2012 and is one of twenty Majesco customers in Puerto Rico.

“Multinational’s growth strategy demanded our ability to rapidly adapt to market opportunities, innovate and scale,” commented Mary Vargas, Vice-President Information Technology & Systems.  “Majesco has been a stalwart partner of ours and has developed a stellar reputation in Puerto Rico for their robust cloud-based platform that delivers speed and value.  Our commitment to deliver excellent customer service that guarantee the tranquility and well-being of our clients is based on two key pillars – sophisticated technology and highly competent staff.  Majesco’s next generation technology delivers on the first pillar with leading-edge business capabilities and cutting-edge technical architecture that delivers on our commitment to our customers. We look forward to our deepening and expanding partnership with Majesco.”

The Multinational Group was established in 1983 in the state of Mérida in Venezuela. Through organic and constant growth, general agencies and representative offices were established in various cities of the country.  During its 30 years of history, it has expanded its operations substantially, acquiring insurance companies of high prestige throughout Latin America and the Caribbean, including Puerto Rico.  This upgrade to CloudInsurer® will their commercial business using Majesco’s pre-configured, ready-to-use ISO content.

“We are honored and thrilled to have Multinational upgrade to CloudInsurer® to support their aggressive business growth strategy,” said Prateek Kumar, EVP for Majesco.  “The demanding and unique needs of the Puerto Rican market highlight the strategic value of Majesco CloudInsurer® as a platform that delivers speed to value – speed to implementation, speed to market and speed to revenue.  Our rapid growth in cloud customers delivers expanding competitive, safe, scalable and secure operations.  We welcome Multinational to our rapidly expanding Cloud customer community.”

 

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.

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.

Majesco Completes Policy Migration for Unum UK L&A and Group onto Majesco Policy for L&A and Group

Morristown, NJ – November 12, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Unum UK completed its implementation and migration of data to the Majesco Policy for L&A and Group platform.

David Axford, CIO of Unum UK, commented, “It’s great that we’ve now successfully migrated 100% of our policies to the Majesco platform and decommissioned our legacy systems. This has enabled us to greatly simplify our technology landscape and create a foundation for future digital developments.”

Unum is a leading employee benefits provider in the UK offering financial protection through the workplace including: Income Protection, Life insurance, Critical Illness, and Dental cover.

“The changes in the pension and voluntary benefits market are pushing insurers to rethink their operational and business models, particularly their ability to react quickly,” stated Norman Carroll, Majesco’s Managing Director for Europe.  “We are pleased to have helped the final migration for Unum and value our long-term partnership.”

 

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.

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.

Majesco Announces Fall Product Council to be held in Bridgewater, New Jersey, November 12, 2019

This will be the 12th Product Council meeting that brings together Majesco customers, leadership and product management to collaborate on the roadmap to meet today’s and tomorrow’s demands

Morristown, NJ – November 7, 2019:  Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that it will host its 12th Product Council meeting November 12 in Bridgewater, New Jersey.  Majesco hosts the Product Council twice a year in the spring and fall.

“As a leading insurance product company, we value the input from our customers for shaping the roadmap of our products. Our semi-annual product council is a great way to bring together our customers, product management and leadership to collaborate on the roadmap by keeping our customers’ needs at the core,” commented Manish Shah, President and Chief Product Officer at Majesco.  “With our market leading monthly automated updates of our software products along with regulatory updates for rates, rules and forms, our roadmap is a “living” guide for our development teams and our customers, providing them details to help shape their plans.

Opening the Product Council meeting will be CEO Adam Elster and Chief Product Officer Manish Shah, providing an update on the company as well as the recent market availability of Version 11 of Majesco P&C Core Suite and Majesco L&A and Group Core Suite.  The day will be spent in breakout sessions for each of the software solutions to review, discuss and collaborate on the 2020 product roadmap priorities.

“We are excited and honored to have such a diverse and active customer base who participate not just in our Product Council, but daily in their submission of ideas that continue to strengthen and innovate our solutions to meet the demands of a fast-changing insurance marketplace,” stated Adam Elster, CEO of Majesco.  “Together, we are creating the future of insurance that is connecting customers to insurance in ways that are innovative, hyper-relevant, compelling and personal.”

 

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® 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.

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.