Say Insurance, a New Brand for Shelter Insurance in Production with Majesco Billing

Press Release

Highlights Agility and Innovation to Reach Digitally Savvy Millennials Morristown, NJ – July 11, 2017 – Majesco (NYSE MKT: MJCO), a global provider of core insurance software and consulting services for insurance business transformation, today announced that its’ client, Shelter Insurance is live on Majesco Billing for its new brand, Say Insurance™, focused on delivering a digital auto insurance product that is transparent, simple and convenient. Say Insurance™ was developed as a new brand designed to appeal to a specific target market that prefers to do business directly with insurance carriers digitally with self-service capabilities. Commenting on the milestone, John Rooney, Vice President of Information Services, said, “Shelter Insurance developed and launched a new brand, Say Insurance™, to reach and serve new markets with a digital auto insurance experience and product.  Our vision is to provide an insurance experience that is transparent, clear, respectful and useful to our customers, with billing being one of the most frequent and impactful experiences.  Majesco Billing serves as a part of the foundation of a new digital experience using cutting edge technology and our commitment to innovation.” “We are honored to be a part of this exciting initiative with Shelter Insurance,” commented Ed Ossie, COO for Majesco.  “Increasingly insurers are looking to new business models to reach a new generation of digitally savvy customers with new expectations across the customer journey, including billing.  We appreciate Shelter’s confidence and partnership with Majesco and look forward to supporting their future plans with their Greenfield, Say Insurance.” Majesco Billing supports all lines of insurance business including P&C, L&A and Group through an array of billing types – Direct, Customer Account, Agency Statement, Agency Account Current, Wholesale, List/Payroll Deduction and Deductible Billing, among others. Self-service capabilities are offered to both insured and agents alike. Majesco Billing is a part of the Majesco P&C Suite and can be deployed standalone or as a part of the suite on premise, hosted or in the cloud. About Majesco Majesco enables insurance business transformation for approximately 150 global customers by providing technology solutions which include software products, consulting and IT services. Our customers are carriers from the Property and Casualty, Life, Annuity and Group insurance segments worldwide.   Majesco delivers proven software solutions and IT services in the core insurance areas such as policy administration, billing, claims, distribution and analytics. For more information, please visit us on the web at, or call 1-973-461-5200. About Shelter Insurance Shelter Insurance® is a group of companies with four personal lines property and casualty companies, a reinsurance company, a life insurer, and a direct Internet marketing company.  Shelter offers auto, home, life, farm and business insurance services to customers in 19 states via a network of 2,066 local insurance agents and 2,192 employees. The firm’s Home Office is at Columbia, Missouri.   For more information, visit our website at 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.