[August 22, 2017]

Digital Age Shift Requires Data Mastery by Insurers Emphasized in New Majesco Report

The digital age has ushered in dramatic changes in the types and volumes of data available as well as the tools and techniques to extract insight and real business value from that data, according to a new thought leadership report published today by Majesco (NYSE MKT:MJCO), a global provider of core insurance software and consulting services for insurance business transformation.

The report, Winning in a New Age of Insurance: Insurance Moneyball, notes that while insurers were once leaders in data-driven decisions, many find themselves behind the curve - aware of the promise and potential of these advances, but stuck in their traditional methods made up of silos of internal data and dated analytic techniques suitable for limited, repeated decisions but not capable of making new discoveries, optimizing business decisions or uncovering strategic opportunities.

The report observes the similarity to the Oakland A's non-traditional, data-driven baseball success in the book Moneyball: The Art of Winning an Unfair Game. Similar to insurers stuck in centuries-old business assumptions, Moneyball shows that the centuries-old collective wisdom of baseball insiders, including players, managers, coaches, scouts and the executive office was subjective, flawed and did not keep up with a 21^st century reality. Insurers who stick to the traditional, pre-digital age formula of relying on internal, historical data used only for pricing and underwriting, will put their businesses at risk … both in terms of retaining profitable customers and capturing new markets and customers.

"New Greenfield and startup competitors are the Oakland A's of the insurance industry," noted Denise Garth, SVP Strategic Marketing, Industry Relations and Innovation at Majesco. "They are rising from within and outside every industry, including insurance. They are capturing the post-digital age business opportunities of the next generation of buyers by leveraging new sources of data and using sophisticated analytics to reinvent insurance."

Emerging technologies (including analytics) are creating new capabilities, and they are bringing with them an explosion of new data sources. New sources of data will contain unique insights regarding asset-related risks as well as consumer behavior, attitudes, and preferences. To remain competitive in the new age of insurance, companies must utilize these insights extensively to underpin their strategies for roduct/service design, pricing, risk understanding and consumer engagement. The report outlines Majesco's Data and Analytics Spectrum (News - Alert) framework to help insurers understand and connect the different types of analytics required in insurance, including Majesco solutions and partner solutions.

"Data mastery is a key enabler of the insurance industry's shift to the digital age, where they provide risk products and services personalized for each customer," noted Kris Moniz, Vice President, Data Services at Majesco. "In the digital age, value is not just in underwriting the right customers, but underwriting the right risks, under the right constraints and in the right markets."

The new thought leadership report, Winning in a New Age of Insurance: Insurance Moneyball, is available on the Majesco website to download, or you can request a copy via email, [email protected].

About Majesco

Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance. Approximately 150 insurance companies worldwide in P&C, L&A and Group/ Employee Benefits are transforming their businesses with Majesco's solutions. Our market leading software and consulting 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 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.

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