Press Release
Majesco Services provide end to end support for Insurer’s workers compensation operational systems
Morristown, NJ – April 5, 2018 – Majesco (NYSE American: MJCO), a global provider of core insurance software and consulting services for insurance business transformation, today announced that a tier one specialty insurer signed a three year agreement for application management services with Majesco to support their workers compensation operational systems.
The insurer is focused on specialty related insurance in the U.S., and entered into an agreement with Majesco for end to end support of some of their key workers compensation operational systems. The application management services are part of Majesco’s Application Development and Management (ADM) Services using an innovative service level agreement (SLA) driven managed services model that guarantees high quality and speed for their business users while ensuring predictability and year-on-year reductions in their support costs delivered through productivity improvements and application stabilization. The insurer has been a long-term strategic client of Majesco.
“We are honored to extend our strategic partnership with this specialty insurer, helping them continue their dedication to servicing their workers compensation customers,” commented Ganesh Pai, EVP of Consulting Services for Majesco. “Our robust and deep application maintenance services capabilities are designed to deliver optimum insurance business outcomes, improved productivity and efficiencies. We look forward to the helping them drive new levels of operational performance over the next three years.”
Majesco Consulting Services provides strategic, value-added services based on industry-specific frameworks, assets, and expertise to help insurers accelerate their business priorities and drive achievement of critical business or project outcomes. Majesco services include Majesco Enterprise Consulting, Majesco Digital Services, Majesco Data Services, Majesco ADM Services and Majesco Testing Services.
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 modelling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more.
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.
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