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Majesco and DataRobot Partner to Bring Integrated AI/Machine Learning with Majesco Solutions to Customers and the Insurance Industry

Partnership will integrate AI and automated machine learning capabilities with Majesco solutions to help insurers optimize the business and drive growth and innovation

Morristown, NJ April 16, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, announced today a partnership with DataRobot, the leader of automated machine learning, to accelerate adoption and success of AI in the insurance industry. Through the new partnership, Majesco customers can leverage the DataRobot automated machine learning platform capabilities integrated with Majesco solutions to improve underwriting, claims and servicing excellence, and profitability.

AI and machine learning, along with cloud, APIs and microservices, are the key technologies for platforms, like Majesco’s Core Suites and Digital1st Insurance solutions. The partnership will make machine learning analytics capabilities accessible to any tier of insurer using Majesco solutions, alleviating the burden of limited expertise and resources.

As the insurance industry rapidly moves to the future of insurance, robust AI and machine learning capabilities are increasingly mandatory.  Benefits of the partnership include:

  • Data Science Access to All: empower the data-rich, but data science-limited insurance businesses to rapidly build, test, and deploy machine learning models with DataRobot’s automated machine learning platform with Majesco Solutions.
  • Optimize the Business: Deliver business value via actionable results by applying machine learning to data to optimize decision making within key business processes.
  • Drive Growth and Innovation: Leverage new data sources for innovative new products and services to drive growth and innovation.

“As the insurance industry continues to rapidly transform, advanced analytics capabilities through AI and machine learning are business-critical for growth and innovation,” commented Manish Shah, President and Chief Product Officer at Majesco.  “Despite this, AI and machine learning are inaccessible to many insurers due to the lack of access to technical talent.  This partnership will level the playing field by integrating Majesco solutions with the DataRobot platform to automate the process of building and operationalizing insurance models within any part of the insurance value chain.”

“AI has the potential to revolutionize the insurance industry, and automated machine learning is ripe to solve the challenges that many insurers face, including scarce resources and a slowly evolving technical infrastructure,” said Seann Gardiner, SVP of Business Development at DataRobot. “Leveraging the knowledge, experience, and best practices from the world’s leading data scientists, this partnership will put the power of machine learning into the hands of more insurers looking to transform their businesses into AI-driven enterprises.”

“In 2019 we’re already seeing a significant shift from proof of concepts in AI to something more industrialized and repeatable in the insurance industry,” commented Craig Beattie, Senior Analyst at Celent. “However, in order for AI to be pervasive in an organization it needs to be accessible, and integrated into the processes and core systems that organization uses. This partnership between Majesco and DataRobot could unleash the potential of this wave of AI for 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 190 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 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.

Contact

DataRobot
Libby Botsford
Communications Manager
+1-978-618-3994
Libby.botsford@datarobot.com

Majesco Unveils Majesco P&C Core Suite Version 11

The new version includes 100 new features and 700 new capabilities to accelerate insurers’ transformation to the future of insurance

Morristown, NJ April 15, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today unveiled the upcoming version 11 release of the Majesco P&C Core Suite, including Majesco Policy for P&C, Majesco Billing for P&C and Majesco Claims for P&C.  The new version will be generally available in October 2019.

It is a time of disruption and change in the insurance industry – technological revolution, fast-changing customer needs and expectations, and shifts to an on-demand, sharing, Gig and platform economy. These powerful trends are driving the creation of new business models, new products, new services and new markets by those who embrace the disruptive potential and looked forward to the future of insurance by modernizing, optimizing and creating new products, services and business models within the business.

“Majesco continues to aggressively invest and deliver expanded capabilities and features in our P&C Core Suite platform. The new version 11 will help our customers and the industry optimize, modernize and innovate to build the future of their business – and the future of insurance – at speed and at scale,” commented Manish Shah, President and Chief Product Officer at Majesco.  “Our focus is to provide a robust platform that provides the open architecture, configurability, ready-to-use content, pre-built capabilities and SaaS based not just for today’s market demands, but for what is next – positioning our customers as leaders in the Future of Insurance.”

This release highlights Majesco’s continued strategic investment in our core systems to enable our customer’s transformation and shift to future of insurance.  Insurers are seeking a platform that connects people and business to insurance in ways that are innovative, hyper-relevant, compelling and personal to drive growth and innovation for their business.

The new version brings new and innovative capabilities for further improving speed to value, customer experience, ecosystem connectivity and cloud delivery across all suite products with simple, easy and quick upgrade.  Insurers will be able to tap into 100 new features including the following our favorite 11 key features:

  • Customer Panoramic View – A panoramic view of customer portfolio through their entire lifecycle with drill down capabilities as an effective underwriting and customer service tool.
  • Submission and Risk Clearance – Streamlined submission and risk clearance pre-integrated with Majesco Policy for P&C.
  • Usage-based Billing – Mileage-based billing for auto insurance.
  • Enhanced Task Management – Centralized and enhanced task management for the P&C Suite focusing on managing business exceptions and approvals through automation and skill-based routing and escalations.
  • Global Search – All-purpose, generic search capability to find any entity across all P&C suite products to initiate transactions right from the search results.
  • Digital Tour Guide – In-app interactive tutorials and guided tours of existing as well as newly released features for engaging and improving user adoptions and their productivity.
  • Personal Assistant – AI Bot driven conversational UX for navigation and quick completion of a task within a business process.
  • Native Document Management – Preintegrated native document composition, generation and storage modules with intuitive document authoring tools.
  • Open API & API Gateway – 700+ OAS3.0 compliant APIs covering all major P&C functions available over an enterprise gateway servicing all APIs with enterprise monitoring and servicing feature for Majesco CloudInsurer™ customer.
  • Ready-to-use Digital1st EcoExchange Capabilities – Built-In integration and configuration capability to quickly integrate with any Digital1st EcoExchange™ partner apps without coding.
  • Enterprise Security & Data Protection – User identity management with popular cloud identity providers with multi-factor authentication for added security measures as well as data protection compliance.

“Modern Insurers are looking for core systems that deliver robust out of the box functionality to accelerate implementation, and an open integration architecture that allows them to deliver unique customer experiences and digital capabilities. Offering this in a secure, stable cloud environment enables insurers to focus resources on differentiators, not commodities like infrastructure.   Forward-looking solution providers like Majesco are meeting these needs,” stated Martina Conlon, Executive Vice President at Novarica.

Majesco CloudInsurer™ leverages Majesco’s experience with over 35 cloud customers, providing a business platform with broad appeal for all insurers from greenfields, new start-ups and incubators to mid-market and tier one insurers. Majesco CloudInsurer provides a core insurance software platform leveraging Majesco core solutions including Majesco Policy, Majesco Billing, and Majesco Claims.

Majesco Policy for P&C provides preconfigured ISO content, including all rates, rules, forms, taxes, fees, and surcharges for 52 jurisdictions (including DC and Puerto Rico), and provides a well-experienced monthly bureau content update service.  Together, the preconfigured bureau content and Majesco Bureau and Content Update Services are designed to provide agility, rapid product innovation, and speed to market, enabling insurance companies to introduce new products and reach new markets quickly and cost effectively. Majesco Enterprise Data Warehouse is pre-integrated with the Majesco P&C software portfolio.

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 190 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 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 Plans to Unveil New Brand and Vision for the Future of Insurance

Launching the new face and future of Majesco at the company’s sold-out customer conference

Morristown, NJ April 9, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced plans to unveil its new brand and vision for the future of insurance at Convergence 2019, the company’s global customer conference.

Majesco has an incredible history of innovation and raising the bar in the insurance industry. Over the last nine months alone, the company increased its revenue by more than 14%, as reported in its third quarter financial results. This was driven primarily by the growing success of its cloud strategy, with a 51% increase in cloud revenues year over year for the quarter, representing nearly 40% of the company’s total revenue.

“Majesco is evolving its brand to mirror who we are as a company,” says CEO Adam Elster. “The industry is beginning to see how well-run, digitally-capable insurance can impact the world. Successful digital transformation is about finding a strategic partner with the right combination of products and people who can see ahead and help navigate the changes to come. Majesco is that partner,” continued Elster. “We’re powered by the best people in the business, recognized for innovation and vision, and driven to help our customers define the future and thrive in it.”

With this launch, Majesco is elevating its focus on next-generation software solutions, unparalleled domain expertise and industry leadership, and a powerful partner ecosystem to help insurers modernize, innovate and connect to build the future of their business – and the industry – at speed and at scale. The new branding positions Majesco at the intersection of technology, innovation, human-interaction and trust to give insurers a real edge as they reimagine insurance processes for the modern world.

“Our new brand captures the energy and the bold new landscape that’s unfolding in our industry today and underscored by our extensive market research and thought leadership” says Denise Garth, Majesco’s SVP of Strategic Marketing. “Majesco is building the future—agile, nimble, and lightning fast— a future with cloud-based products and solutions that have the power to innovate and transform all existing, greenfield and startup insurers across Property and Casualty, Life and Annuities, and Group Benefits to meet the demands of tomorrow, now.”

Majesco’s new tagline says it all: The future of insurance starts here.

The company’s new brand is live on majesco.com today.

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 190 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 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 Appoints Finance and Operations Expert Wayne Locke As New CFO

The company continues expansion of its executive team, strengthening alignment across the business with an eye towards  the future of insurance

Morristown, NJ April 8, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud software solutions for insurance business transformation, today announced the appointment of Wayne Locke as Chief Financial Officer (CFO) effective April 8, 2019.

Wayne brings over two decades of finance and operations experience to the role, and joins the company from Capgemini, where he was responsible for financial and operational consulting services for insurance organizations.  Prior to that he was the President of WEL Consulting LLC, a financial operations firm. There he provided interim and acting CFO support at several growing companies and was instrumental in driving the finance vision, strategy and leadership to help the organizations get to the next level.  Over the course of his career, he has been responsible for designing and implementing world-class, value-added business process management solutions for notable organizations, including AIG, Deloitte Consulting, GE Capital, BNY and Swiss Re.

Wayne holds an MBA in Finance from Baruch College City University of New York and a BS in Accounting from Brooklyn College City University of New York.

As Majesco’s CFO, Wayne will report directly to CEO Adam Elster and oversee all operational, commercial, financial and investor relations functions, ultimately ensuring the company’s ability to capitalize on the growing demand for cutting-edge insurance software solutions that deliver digital business transformation at speed and scale.

“Wayne’s extensive expertise in financial planning and operations, management and strategy, along with his background in the insurance industry is an ideal fit for Majesco as we work to extend our positive momentum, continue growing our cloud business, and help insurers across Property and Casualty, Life and Annuities, and Voluntary Group Benefits to meet the demands of tomorrow, now” said Adam.

“I couldn’t imagine a more exciting time to join Majesco. Their vision for the future of the company and the future of insurance truly impressed me. I look forward to joining the team and leveraging my experience to build on their impressive performance and growth” said Wayne.

With this move, Farid Kazani will continue to lead Majesco’s Group Finance Function as Managing Director and Group CFO, playing a critical role in strategic initiatives including mergers and acquisitions, partnerships, capital raise and other initiatives to increase Majesco’s stakeholder value.

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 190 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 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.

New Majesco Research Clearly Reveals Rising Consumer Expectations for a New Era of Insurance

Leaders will rapidly adapt to what customers want and expect, rather than requiring customers to adapt to the way insurance has always worked

Morristown, NJ – March 26 2019:  Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced the release of a new thought leadership report, Building a Business Model for the Insurance Customer of the Future, based on its third annual survey of consumers who buy insurance.   The report underscores why insurers must rapidly shift to a new era of insurance for growth and retention of customers.

“Customer focus is always a win-win.  How insurers make it a win-win is changing due to new technologies, new competitors, new products, new services and new customer expectations,” commented Denise Garth, SVP of Strategic Marketing, Industry Relations and Innovation at Majesco. “Today’s and tomorrow’s insurance customers are shifting across multiple fronts.  Understanding how customers make decisions for insurance is critical for insurers as they create strategies for their future.     Savvy, innovative companies are redefining the future of insurance from an outside-in perspective, by adapting to these changes.”

All customer generational segments, led by Gen Z and Millennials, actively participate in marketplace trends and use technologies that are driving the demand for new insurance products, services and engagement strategies. Insurers must begin to act on these now if they hope to capture the growth opportunities they offer, let alone retain existing customers who are increasing open to newer offerings.

  • Gen Z and Millennials lead as consumers in the Sharing Economy. Gen Z stands out in their use of rideshare services jumping sharply from 45% to over 60% and showing a strong 10% increase in the use of homeshare services.
  • Across all generations, fitness trackers and smart speakers are the most heavily used connected devices. Gen Z and Millennials lead in the use of connected home devices, with Millennials doubling their year-over-year use of connected security devices like Ring doorbell.
  • Over 20% of all generations have purchased event or single-item insurance, highlighting growing interest in pay-as-you-need insurance products.

Most insightful, is the strong openness by all generations in using new products, services and business models, many already offered or in experimental phase by InsurTech startups, innovative carriers, reinsurers, and MGAs. First-mover status will be critical to win market share ahead of the growing field of competitors capitalizing on these new customer expectations.

  • Gen Z and Millennials are most interested in value-added service offerings, indicating they are less indoctrinated into the traditional insurance business model than their older counterparts, and are more open to viewing insurers as partners in their overall well-being.
  • Nearly 50% of Millennials and closely followed by Gen Z, would consider eight different insurance pricing models based on new data sources that reflect their desire for personalized rather than “one size fits all” products.
  • The purchase of insurance from Amazon, Google or Apple is most likely by Gen Z and Millennials. In contrast, Gen X and Boomers have very little interest in doing so.This stark difference reflects the growing gap between generations that is increasingly taken advantage of by innovative, digital first competitors who are aggressively capturing and establishing loyal next generation customers.

 

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

Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance.  Approximately 160 insurance companies worldwide in P&C, L&A and Group / Employee Benefits are transforming their businesses with Majesco’s solutions.  Our market leading software, consulting and services uniquely underpin the entire insurance value chain and are designed to empower insurers with the agility, innovation and speed needed to meet their transformation opportunities.  Majesco’s solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI / analytics, predictive modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more.  For more details on Majesco, please visit 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 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.

Hansard Global Plc Selects SaaS-Based Majesco LifePlus Solutions to Transform their Business

Dublin, Ireland, 21stMarch 2019– Majesco (NASDAQ: MJCO), a global leader of cloud core insurance software, today announced that Hansard Global plc, a FTSE listed business, selected Majesco Life IllustratePlus, Majesco Life AdminPlus, and Majesco Life DistributionPlus to support its ambitious growth plans.

Hansard Global plc, which is headquartered on the Isle of Man, provides innovative financial products and services for financial advisors and their international clients, leveraging the latest technology to deliver an award-winning online proposition and best-in-class service.

This is the third UK win announced in the last 12 months, following the launch of the SaaS offering in February of 2016 and has received a hugely positive response from the industry, endorsed by numerous industry awards.  Majesco has established itself as a market leader in cloud-based core insurance solutions within the individual life and pensions sector.

Ollie Byrne, Chief Strategy Officer at Hansard Global plc, commented “Our current system has served Hansard fantastically well for over thirty years, underpinning a service and online proposition that has scooped multiple awards over time, gaining Hansard a reputation as genuine innovators in our industry. The introduction of the new system from Majesco will, above all, provide a continuation of the great service that financial advisors and their clients have become used to, and better position the Hansard Group to deliver on our ambitious strategic growth plans, where we see Fintech as a key enabler into the future.”

Philip Naughton, Executive Director Business Development at Majesco, commented, “Majesco is pleased to have yet again overcome the competition and proven itself to be the best in class provider of innovative core digital solutions to the life and pension sector. By partnering with Majesco, Hansard will be implementing next generation technology that will allow financial advisors and their clients real-time 24×7 accessibility to its services. We are eager to work with Hansard and help them realise the many benefits of our digital solutions.”

Majesco LifePlus Solutions are designed to be tomorrow’s solution for individual life, pensions and wealth management. Majesco’s component-based SaaS solutions provide full policy life cycle support from customer fact find right through to payment of a claim. Majesco LifePlus Solutions allow clients to avoid large upfront licence fees, to pay per usage and work anywhere, anytime.

About Majesco

Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance.  Approximately 160 insurance companies worldwide in P&C, L&A and Group/ Employee Benefits are transforming their businesses with Majesco’s solutions.  Our market leading software, consulting and services uniquely underpin the entire insurance value chain and are designed to empower insurers with the agility, innovation and speed needed to meet their transformation opportunities.  Majesco’s solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI/ analytics, predictive modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more.  For more details on Majesco, please visit majesco.com.

About Hansard

Hansard Global plc is the holding company of the Hansard Group of companies. The Company was listed on the London Stock Exchange in December 2006. The Group is a specialist long-term savings provider, based in the Isle of Man. The Hansard Group administers assets in excess of $1.4bn for approximately 40,000 clients across the globe.

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.

Contacts

Sharon Cronin
EMEA Marketing Manager, Majesco LifePlus Solutions
+353 86 3584766
sharon.cronin@exaxe.com

Majesco Acquires Insurance Software Business in India

Acquisition of the India Insurance Software Business ensures simplification of group’s operating structure and consolidation of the business under Majesco

Morristown, NJ –March 18, 2019– Majesco (NASDAQ: MJCO), a global leader of cloud insurance technology, announced today the acquisition of the India based insurance software business from its parent company, Majesco Limited. The business will be acquired by Majesco’s 100% subsidiary in India, Majesco Software Solutions India Private Limited (MSSIPL),is subject to statutory approvals including approval of the shareholders of Majesco Limited and shall be effective from April 1, 2019.

“The acquisition of the India Business and consolidation under the operating entity will ensure sharper focus on our global solutions and capabilities, enabling us to deploy best practices and achieve operational synergies” said Majesco CEO Adam Elster.  “We view this acquisition as part of Majesco’s vision to build the future for insurance and look forward to maximizing our potential as a leading digital transformation player. Majesco’s strength, coupled with its complementary suite of innovative digital solutions and deep insurance industry expertise means we can offer a wider selection of solutions to new and existing clients and provide greater career opportunities for our committed team.”

About Majesco

Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance. Approximately 160 insurance companies worldwide in P&C, Life & Annuities and Group/ Employee Benefits are transforming their businesses with Majesco’s solutions.  Our market leading software, consulting and services uniquely underpin the entire insurance value chain and are designed to empower insurers with the agility, innovation and speed needed to meet their transformation opportunities. Majesco’s solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI/ analytics, predictive modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more. For more details on Majesco, please visit 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 for the fiscal year ended March 31, 2018 filed with the SEC on June 22, 2018.

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.

Contacts

 Corporate
Ann Massey
SVP-Finance
(973) 461-5190
ann.massey@majesco.com

Majesco Announces Norman Carroll as Managing Director of European Operations

Majesco’s European office to be headquartered in Dublin, Ireland

Morristown, NJ March 12, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, announced today that Norman Carroll will lead the European operation as Managing Director.

Majesco’s European operation will be based in Dublin, Ireland with offices across the UK.

Norman was co-founder of Exaxe, an award-winning SaaS provider of Digital software and customer experience solutions for the individual life and pensions market for Europe.  Exaxe was acquired by Majesco in November 2018 to extend market capabilities and reach for life, pensions and wealth management in Europe.

“We are delighted to have Norman lead our European team. His extensive experience, knowledge and relationships across the European market will provide the leadership to accelerate our market opportunities in the cloud and with digital transformation,” said Ed Ossie Chief Operating Officer of Majesco. “Basing our European operation out of Dublin will provide us access to the thriving technology community.”

“I am looking forward to working closely with our staff, customers and partners as we move forward into a new future of insurance.” We are privileged to serve our growing customer base with cloud-based insurance software that drives meaningful improved outcomes for insurers, their agents and their customers,” said Norman about his new role.

About Majesco

Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance.  Approximately 160 insurance companies worldwide in P&C, L&A and Group/ Employee Benefits are transforming their businesses with Majesco’s solutions.  Our market leading software, consulting and services uniquely underpin the entire insurance value chain and are designed to empower insurers with the agility, innovation and speed needed to meet their transformation opportunities.  Majesco’s solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI/ analytics, predictive modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more.  For more details on Majesco, please visit majesco.commajesco.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.

 

Contacts

Sharon Cronin
EMEA Marketing Manager, Majesco LifePlus Solutions
+353 86 3584766
sharon.cronin@exaxe.com

Majesco To Host Investor/Analyst Day at Nasdaq MarketSite on May 8, 2019

The event to highlight Majesco’s growth strategy and vision for the future of insurance

Morristown, NJ March 6, 2019 – Majesco (Nasdaq: MJCO), a global leader of cloud insurance software solutions for business transformation, today announced that it will host an Investor/Analyst Day in New York on May 8, 2019.

The event will be hosted at the Nasdaq MarketSite in Times Square, New York on May 8, 2019 from 1:00 to 5:30 pm, with a cocktail reception immediately following. Over the course of the day, Majesco’s senior leadership team will lay out the company’s growth strategies and articulate the market opportunities for the Majesco brand.

While in-person attendance is by invitation only, a live webcast and replay of the event can be accessed on Majesco’s Investor Relations website at http://investors.majesco.com/.

For more information, please email investorday2019@majesco.com.

“We’re excited to outline our vision for the future of insurance, and spend time sharing our corporate strategy, product roadmaps, financial progress and customer insights with our shareholders and the broader investment community,” said Majesco CEO Adam Elster. “We are confident that this event will increase transparency in the progress we’ve been making as a company as we continue to grow our cloud business and create sustained value for our customers and shareholders.”

About Majesco

Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance.  Approximately 160 insurance companies worldwide in P&C, L&A and Group/ Employee Benefits are transforming their businesses with Majesco’s solutions.  Our market leading software, consulting and services uniquely underpin the entire insurance value chain and are designed to empower insurers with the agility, innovation and speed needed to meet their transformation opportunities.  Majesco’s solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI/ analytics, predictive modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more.  For more details on Majesco, please visit 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.

CONTACTS

Corporate
Ann Massey
SVP-Finance
(973) 461-5190
ann.massey@majesco.com