{"id":50851,"date":"2018-05-07T08:46:36","date_gmt":"2018-05-07T08:46:36","guid":{"rendered":"https:\/\/staging.majesco.com\/?post_type=press&#038;p=50851"},"modified":"2024-06-20T09:55:02","modified_gmt":"2024-06-20T13:55:02","slug":"majesco-digital1st-insurance-launch","status":"publish","type":"press","link":"https:\/\/staging.majesco.com\/?press=majesco-digital1st-insurance-launch","title":{"rendered":"Majesco Launches Majesco Digital1<sup>st\u00ae<\/sup> Insurance, an Innovative Next Generation Platform Solution as the Foundation of a New Business Unit"},"content":{"rendered":"<h3>The new Majesco business unit, a greenfield operation, will offer the solutions through a digital, multi-channel approach<\/h3>\n<p><strong>Morristown, NJ \u2013 May 7, 2018\u00a0<\/strong>Majesco (NYSE American: MJCO), a global provider of core <a href=\"https:\/\/staging.majesco.com\/digital-solutions-insurance-solutions\/\">digital insurance software<\/a> and consulting services for insurance business transformation, announced the initial release and market availability of Majesco Digital1<sup>st\u00ae<\/sup> Insurance, a ground-breaking digital and microservices based solution set designed to enable the next era of new business models, new products and customer engagement in the digital age, allowing insurers to embrace innovation and growth.\u00a0 The components in the first release include Majesco Digital1<sup>st\u00ae<\/sup> Platform and Majesco Digital1<sup>st<\/sup> EcoExchange\u00ae.\u00a0 The release follows a successful beta period with selected customers and partners.\u00a0 Majesco has formed a new greenfield business unit which will focus on developing and delivering innovative digital solutions as well as the new partner marketplace.<\/p>\n<p>\u201cAs we work with our customers, we are observing the shift to digital operating models centered on bringing best of class insurance products and services to their customers. A real digital transformation requires innovation of new insurance products, expansion of non-traditional distribution channels, rise to the generational differences in customer expectations and adoption of new technology to accelerate innovations, reduce costs and scale successful ideas,\u201d commented Manish Shah, Executive Vice President at Majesco. \u00a0\u201cThe microservices platform and the new marketplace of partners offer cutting-edge capabilities designed to rapidly develop and deploy innovative digital solutions in days rather than months or years.\u201d<\/p>\n<p>Majesco Digital1<sup>st\u00ae<\/sup> Insurance supplements the core platform solutions for P&amp;C and L&amp;A and Group, though each of the new solutions can be used and integrated with Majesco\u2019s core systems as well as with other core software to accelerate the value of core software solutions.\u00a0 The new Majesco Digital1<sup>st\u00ae<\/sup> Insurance solutions available include:<\/p>\n<ul>\n<li>Majesco Digital1<sup>st\u00ae<\/sup> Platform \u2013 Industry\u2019s first micro-services platform bundled with pre-built insurance capabilities across P&amp;C and L&amp;A business segments that is designed to enable a new generation of business models and products that require on-demand capabilities, personalized user experience for a new generation of customer and extensive use of new real-time data sources that traditional core systems cannot effectively support. The Majesco Digital1<sup>st\u00ae<\/sup> Platform will be offered as a 100% SaaS offering available with 30-day trial period, low entry costs and no \/ low commitment. Please visit www.digital1st.io to learn more or to request a free trial.<\/li>\n<li>Majesco Digital1<sup>st<\/sup> EcoExchange\u00ae \u2013 the next generation of partner ecosystem hub using third party services with a standard semantic layer for easy integration and a true \u201cplug and play\u201d environment for traditional and InsurTech partners. A critical part of the Majesco Digital1<sup>st<\/sup> EcoExchange\u00ae is the new marketplace for insurers to access and use InsurTech apps. Majesco partners will be able to list and offer any number of Apps on the EcoExchange that they would like to market, similar to how other marketplaces or app stores operate.\u00a0\u00a0 The types of EcoExchange apps could be as simple as a non-interactive service call to a comprehensive solution that can orchestrate multiple provider services including interactive conversations. \u00a0Please visit ecoexchange.digital1st.io to learn more.<\/li>\n<\/ul>\n<p>\u201cThe interest in platforms, microservices and ecosystems is on top of mind of many insurers.\u00a0 In particular, access to innovative solutions and data from traditional and new InsurTech partners is part of every insurer\u2019s strategy, but has been difficult to do.\u00a0 Majesco\u2019s new EcoExchange and marketplace of partners that can be integrated using an open API approach is an innovative approach that will empower every insurer,\u201d commented Karlyn Carnahan, Director in Celent\u2019s North America Property\/Casualty Practice.<\/p>\n<p>For more information, contact Majesco at info@majesco.com.<\/p>\n<p><strong>Cautionary Language Concerning Forward-Looking Statements<\/strong><\/p>\n<p>This press release contains forward-looking statements within the meaning of the \u201csafe harbor\u201d 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\u2019s reports that it files from time to time with the Securities and Exchange Commission and which you should review, including those statements under \u201cItem 1A \u2013 Risk Factors\u201d in Majesco\u2019s Annual Report on Form 10-K, as amended by Majesco\u2019s Quarterly Report on Form 10-Q.<\/p>\n<p>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: \u00a0integration risks; \u00a0changes 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\u2019s ability to raise capital to fund future growth.<\/p>\n<p>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.<\/p>\n<p><strong>About Majesco<\/strong><\/p>\n<p>Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance.\u00a0 Approximately 160 insurance companies worldwide in P&amp;C, L&amp;A and Group\/ Employee Benefits are transforming their businesses with Majesco\u2019s solutions.\u00a0 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.\u00a0 Majesco\u2019s 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.\u00a0 <strong>For more details on Majesco, please visit\u00a0<\/strong><strong>majesco.com.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new Majesco business unit, a greenfield operation, will offer the solutions through a digital, multi-channel approach Morristown, NJ \u2013 May 7, 2018\u00a0Majesco (NYSE American: MJCO), a global provider of core digital insurance software and consulting services for insurance business transformation, announced the initial release and market availability of Majesco Digital1st\u00ae Insurance, a ground-breaking digital&hellip;<\/p>\n<div class=\"wp-block-button is-style-transparent-arrow\"><a class=\"wp-block-button__link majesco-2022-read-more-link\" href=\"https:\/\/staging.majesco.com\/?press=majesco-digital1st-insurance-launch\">View Full Resource <\/a><\/div>\n","protected":false},"featured_media":0,"template":"","solution":[],"customers":[],"partners":[],"solution-categories":[],"class_list":["post-50851","press","type-press","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Majesco Launches Digital1st Insurance Next-Gen Platform<\/title>\n<meta name=\"description\" content=\"The new Majesco business unit, a greenfield operation, will offer the solutions through a digital, multi-channel approach Morristown, NJ \u2013 May 7,\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Majesco Launches 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