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Majesco Announces Ready-To-Use Partner Apps in Majesco Digital1st EcoExchange™Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced a wide range of ready-to-use partner apps available in the Majesco Digital1st EcoExchange™ marketplace, which is part of Majesco Digital1st Insurance™ solutions. Majesco Digital1st Insurance™ is a ground-breaking digital and microservices-based solution designed to enable the next era of insurance business models, products and customer engagement to drive innovation and growth. The Digital1st EcoExchange™ is a next-generation partner ecosystem hub using third-party services with a standard, semantic layer for easy integration and a true "plug-and-play" environment for both traditional and InsurTech partners. The EcoExchange™ is different from accelerators and other industry offerings with a code repository because it works as an app store with API-based services. Majesco partners will be able to list and offer any number of apps on the EcoExchange™ which operates like any other marketplace or app store. "The Digital1st EcoExchange™ is a next-generation marketplace of partner apps designed to enable the insurance industry to make its transition to the digital, on-demand era," commented Manish Shah, President and Chief Product Officer at Majesco. "The EcoExchange™ supports both experimentation and the creation of new business models with the ability to rapidly scale. In today's digital economy, capabilities such as pay-per-use pricing and dynamic integration using open APIs to create different cost structures can often mean the difference between success and failure," continued Manish. The EcoExchange™ has a wide variety of apps currently available and in development, ranging from a non-interactive service call all the way to a comprehensive solution that can orchestrate multiple provider services, including interactive conversations. The current list of partner apps within the EcoExchange™ include: CyberSource (News - Alert), Visa's payment management platform
HazardHub
SmartyStreets
SPLICE Software
Verisk
"Insurers clearly recognize the value of fanatical attention on customer experience and the need to deliver innovative new products through the use of new digital capabilities and new sources of data. But those that have to individually curate these solutions and then integrate the solutions one at a time will face increasingly high costs," said Karlyn Carnahan, head of Celent's property casualty practice for the Americas. "This pre-curated ecosystem with the ability to rapidly deploy solutions gives a tremendous jumpstart to carriers who are looking for rapid transformation." 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.
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