Press release

Majesco Crushes Attendance Records at Convergence 2019, Unveils New Brand and Strategy for the Future of Insurance, and Announces Major Product Enhancements and Strategic Partnerships

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Majesco (NASDAQ:MJCO), a global leader of cloud insurance software
solutions for insurance business transformation, today announced that
its annual customer conference crushed attendance records, growing
nearly 50%. Attendees included industry influencers from insurers,
reinsurers, brokers, MGAs and InsurTechs and business leaders from
insurance and beyond.

This jump in attendance underscores Majesco’s market leadership and the
rapid growth in adoption of Majesco’s modern cloud, API and
microservices-based platforms for existing and new customers across the
P&C and L&A and Group segments.

CEO Adam Elster’s keynote focused on Majesco’s vision, strategy and
overall brand position, emphasizing the company’s promise and focus on
helping insurers build the next generation of their businesses and the
industry at speed and scale. He highlighted Majesco’s commitment to
connect insurers with the products, insights and best practices they
need to execute their digital transformation strategies, noting both
company’s rich history and the cutting-edge innovation and value they’re
bringing to the insurance industry.

“It’s time for Insurance to become as easy, seamless and powerful as any
business or personal service we expect. This is why we do what we do,”
said Adam. “Majesco is creating the future—agile, nimble, and lightning
fast—a future with cloud-based products and solutions that have the
power to transform all P&C, Life & Annuities and Group Benefits to meet
the demands of tomorrow, right now.”

The broad range of presentations from industry influencers, partners and
customers at the conference is proof that savvy, innovative companies
including large legacy brands, new greenfields and InsurTech startups
are leveraging Majesco’s solutions to redefine the future of insurance.

In his keynote, Manish Shah, President and Chief Product Officer,
highlighted the rapidly changing marketplace and the shift in technology
to cloud, API, microservices, AI, and the rich ecosystems that are
mandatory to compete today and in the future. He provided insight to the
upcoming Version 11 releases of the Majesco P&C Core Suite and the
Majesco L&A and Group Core Suite and introduced the Majesco LifePlus
Solutions rebranded from the recent Exaxe acquisition. Manish also gave
an overview of the wide array of innovative initiatives using the
Majesco Digital1st Insurance platform to change the paradigm
of portals, reinvent the concept of speed-to-value, and more.

In recognition of the many customers who are aggressively defining their
path to the future, Denise Garth emceed an awards presentation where
Majesco recognized those companies who have modernized, optimized and
created new business models or products on their path to The Future of
Insurance over the last year. These included:

  • Business Modernization Award – Replacement of legacy systems
    with new modern platform. There were seven recipients from North
    America and two international.
  • Business Optimization Award – Builds off their core platform
    foundation to optimize the business with data and digital solutions.
    There were four North America recipients and three international.
  • Future of Insurance Award – Reinventing or redefining the
    business of insurance with a new business model, new products and new
    services and driving innovation. There were six recipients, including
    one international company.

A number of these recipients demonstrated innovation and speed-to-value
in their implementations. Five implemented new business models or new
products on Majesco platforms on CloudInsurer™ in 12 weeks or less,
setting a new bar for rapid go-lives in the industry. Five of the
recipients were recognized for both modernization and optimization of
their businesses, reflecting the multi-path approach by many insurers to
stay competitive. The award winners represent the growing diversity of
customers that are setting a path to the future using Majesco solutions.

“Convergence is our premiere customer event, bringing together leaders
across the industry to inspire, collaborate and discuss how to shape the
future of the industry and their own companies,” commented Denise Garth,
SVP Strategic Marketing, Industry Relations and Innovation. “From our
research and active leadership in InsurTech, we have consistently
advocated that insurers have every reason to continue fostering their
loyal customers but need to begin to cultivate new business models for
the future because the window of opportunity to retain existing, let
alone capture future customers is rapidly closing. Focusing on the
customer and the future is a win-win for insurers and the focus of
Convergence.”

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.