Press release

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

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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 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.