[March 20, 2018] |
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InsurTech Start-up Insurer Selects Majesco Policy for P&C and Majesco Billing on Majesco CloudInsurer Platform
Majesco (NYSE American: MJCO), a global provider of core insurance
software and consulting services for insurance business transformation,
today announced that an InsurTech start-up based in California, selected
Majesco Policy for P&C and Majesco Billing on the Majesco CloudInsurer
platform to support their launch and growth strategies in a SaaS (News - Alert) model.
The start-up will write personal lines (Auto, Home, Dwelling Fire and
Umbrella) insurance in California through their agent network. A rapid
four month evaluation of vendor options resulted in the selection of
Majesco as their strategic partner, based on Majesco's cloud platform
maturity and referenceable customers, and well-rounded capabilities for
policy, billing, agent access, and data integration with key partners
and data service providers.
"We are honored to welcome this innovative new start-up to our customer
community," commented Ed Ossie, COO for Majesco. "As the insurance
industry shifts business platforms in Digital Insurance 2.0, we are
excited to be working with new, innovative companies that are
aggressively executing strategies to capture these new market
opportunities focused on rapid launch. We are committed to making core
system platform ecosystems friendly with API-first design, ability to
cost-effectively scale in the cloud, and architected for seamless and
frequent upgrades. We are excited to be this InsurTech start-up's
partner of choice as they begin their journey."
Majesco CloudInsurer leverages Majesco's experience with over 35 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. Majesco Policy for P&C
provides pre-configured ISO content, including all rates, rules, forms,
taxes, fees, and surcharges for 52 jurisdictions (including DC and
Puerto Rico), and provides a well-experienced monthly bureau content
update service. Together, the preconfigured bureau content and Majesco
Bureau and Content Update Services are designed to provide agility,
rapid product innovation, and speed to market, enabling insurane
companies to introduce new products and reach new markets quickly and
cost effectively. Majesco Enterprise Data Warehouse is pre-integrated
with the Majesco P&C software portfolio.
About Majesco
Insurance business transformation is a journey of change and
revitalization, a renaissance of Insurance. Approximately 160 insurance
companies worldwide in P&C, L&A and Group/ Employee Benefits are
transforming their businesses with Majesco's solutions. Our market
leading software, consulting and 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, as amended by Majesco's Quarterly
Report on Form 10-Q.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180320006369/en/
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