Investor Relations

Press Release

The Norfolk & Dedham Group® Selects Majesco Policy for Commercial Package

Company Release - 12/15/2016 8:45 AM ET

Rapid Launch of Majesco Policy for commercial package with ready to use ISO content in Majesco CloudInsurer

MORRISTOWN, N.J.--(BUSINESS WIRE)-- Majesco (NYSE MKT:MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today announced that The Norfolk and Dedham Group® have selected Majesco Policy for commercial package in Majesco CloudInsurer.

“We chose Majesco to support our commercial package policy offerings because of its ready to use content and ability to bring new products to market expeditiously,” said Erin M. Cummings, VP, Norfolk and Dedham Group.

The N&D® Group, a regional carrier comprised of three mutual companies, Norfolk & Dedham Mutual Fire, Dorchester Mutual and Fitchburg Mutual, was founded in 1825 and is based in Dedham, MA and Bridgewater, NJ. Currently, they write in six states with plans to expand into additional states to support their business strategy and growth. Implementation of the new core systems in Majesco CloudInsurer will support aggressive growth plans as well as provide a foundation for future product needs by providing speed to value and operational efficiency.

“We are honored and excited to partner with The Norfolk and Dedham Group as they embark on their rapid transformation to support their business strategies,” commented Prateek Kumar, EVP P&C Business for Majesco. “Our strategic focus on providing insurers like The N&D Group a rich platform with ready to use content, industry best practices and pre-integrated solutions via Majesco CloudInsurer platform will enable them to respond to a rapidly changing market dynamic and new commercial risk opportunities through agility, innovation and speed to market capabilities. We look forward to a successful partnership with The N&D Group.”

Majesco Policy for P&C is pre-defined, integrated, and maintained for ISO bureau content via Majesco Bureau and Content Services for all lines of business, and designed to enable agility, rapid product innovation and speed to market opportunities for insurance companies to introduce new products and reach new markets quickly and cost effectively to capture market share. Majesco CloudInsurer leverages Majesco’s experience with over 30 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 with a digital, multi-channel platform leveraging Majesco Policy.

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, 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.

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.

Ashwin Rodrigues, +1-973-461-9087
Director — Global Marketing

Source: Majesco