Press Release
Morristown, NJ – September 3, 2019 – Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Kookmin Best Insurance Company US Branch (KBICUS), the US operation of KB Financial Group based in South Korea, is live with Majesco P&C Core Suite on CloudInsurer®, Majesco Digital1
st® Insurance Electronic Billing and Payments, and Majesco Enterprise Data Warehouse.
With an A.M. Best Rating of A (Excellent), KBICUS provides top class insurance services to small and mid-sized businesses throughout CA, NJ and NY. Headquartered in Ridgefield Park, New Jersey, with a branch office in Glendale, California, KBICUS provides commercial insurance, including business owners policy and commercial property and umbrella coverage.
“KBIC US is focused on becoming the industry’s leader in terms of customer value. Because of our close relationships with customers, KBIC US has a better understanding of their unique, diverse needs and wants and can design our products accordingly, and with a multicultural and multilingual perspective in mind,” commented Christopher Kwon, President at KBIC US Branch. “We appreciate the care, effort and follow up from Majesco as we partner with them to implement the system that will help us continue to deliver the best possible products and services to our customers and their businesses.”
Majesco CloudInsurer® is helping insurers take advantage of new markets, new products and new paths to growth. With Majesco P&C Core Suite, Majesco is redefining speed – helping insurers transform complexity, create innovation, and meet the demands of a new generation of insurance. The suite delivers end-to-end capabilities to streamline the entire insurance lifecycle with policy through billing and claims. The powerful design allows for rapid adaptation for new, innovative products, enabling insurers to implement a new foundation for growth and innovation in as little as 12 weeks.
“We are honored to welcome KBIC to our customer community,” commented Ed Ossie, COO for Majesco. “The growth opportunities in the commercial lines of business with new, innovative products that are being demanded by small and medium business owners is just beginning. Our deep experience and knowledge of this market segment, combined with our robust capabilities is a game-changer in terms of helping companies capture these market opportunities and meet their customer’s unique needs. We are excited to be KBICUS’s partner of choice as they continue on their path of transformation and growth in today’s post digital age.”
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 200 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® LifePlus Solutions (AdminPlus, AdvicePlus, IllustratePlus, DistributionPlus); 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.
