Press release

Majesco Unveils Majesco L&A and Group Core Suite Version 11

Sponsored by Businesswire

Majesco (NASDAQ: MJCO), a global leader of cloud insurance software
solutions for insurance business transformation, today pre-announced the
upcoming version 11 release of the Majesco L&A and Group Core Suite,
including Majesco Policy for L&A and Group, Majesco Billing for L&A and
Group and Majesco Claims for L&A and Group. The new version will be
available in October 2019.

The L&A and Group segment of the insurance industry has been slow to
replace legacy systems and is now facing intensified disruption and
change – technological revolution, fast-changing customer needs and
expectations, and shifts to new products and business models. Together,
these powerful trends are driving innovation with startups and existing
insurers alike building the future of insurance by modernizing,
optimizing and creating new business models and products within the

“The L&A and Group insurance segment is poised for transformation and
Majesco’s aggressive investment in a next-generation core suite platform
will enable our customers and the industry to not just modernize, but
optimize and innovate their business,” commented Manish Shah, President
and Chief Product Officer at Majesco. “The entire insurance industry,
including L&A and Group insurance is pivoting to a digital operating
model that requires speed-to-value, test-and-learn capabilities, and
customer-focused products and services with the ability to continually
adapt to changing market dynamics and customer behaviors. Majesco is
committed to bringing insurers an insurance platform that enables
digital operating models through open architecture, configurability,
ready-to-use content, prebuilt end-to-end capabilities and SaaS-based
delivery – ultimately helping our customers capture market opportunities
as they shape the future of insurance.”

Today’s 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. This release highlights Majesco’s continued, strategic
investment in core systems to enable customers’ transformation to meet
the demands of a new era of insurance. The new version will include the
following innovative key enhancements and capabilities:

  • Digital RFPs – AI powered Group sales process that allows
    insurers to offer the best for the customer based on historical trends
    and profitability.
  • Always STP (straight through processing) – Speeds up
    transaction processing time and allows having the same information be
    streamlined through a process across multiple points.
  • Reporting Reimagined – Design, schedule, execute and view
    tailored reports off a NoSQL DB.
  • Dashboards– Role based activity, analytical and monitoring
    dashboard views.
  • Global Search – An all-purpose, generic search capability to
    find any entity across the L&A and Group suite allowing users to
    initiate transactions right from the search results and make quick
  • 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.
  • API – Start your digital journey with our 1000+ APIs covering
    all major business functions.
  • Personal Assistant – AI Bot driven conversational UX for
    navigation to a process to quickly commence and complete the task.
  • User themes & preferences – Configure new themes and
    preferences for personalized screen layouts and branding.
  • Real-time User Feedback – Proactively gather user feedback and
    needs then apply it to enhance the user experience.
  • Knowledge Library – Online context sensitive help with ‘how to’
    guides and search capability.

“Celent continues to see significant investment in both the individual
and group space for new, modern technology,” said Tom Scales, Celent,
Head, America’s Life and Annuity. “From the front-office to back-office
and more, innovation investment is growing. It is great to see the
vendor community making significant investments as well.”

Majesco CloudInsurer leverages Majesco’s experience with over 40 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. With preconfigured content,
Majesco solutions 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

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

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.