|[April 15, 2019]
Majesco Unveils Majesco P&C Core Suite Version 11
Majesco (NASDAQ: MJCO), a global leader of cloud insurance software
solutions for insurance business transformation, today unveiled the
upcoming version 11 release of the Majesco P&C Core Suite, including
Majesco Policy for P&C, Majesco Billing for P&C and Majesco Claims for
P&C. The new version will be generally available in October 2019.
It is a time of disruption and change in the insurance industry -
technological revolution, fast-changing customer needs and expectations,
and shifts to an on-demand, sharing, Gig and platform economy. These
powerful trends are driving the creation of new business models, new
products, new services and new markets by those who embrace the
disruptive potential and looked forward to the future of insurance by
modernizing, optimizing and creating new products, services and business
models within the business.
"Majesco continues to aggressively invest and deliver expanded
capabilities and features in our P&C Core Suite platform. The new
version 11 will help our customers and the industry optimize, modernize
and innovate to build the future of their business - and the future of
insurance - at speed and at scale," commented Manish Shah, President and
Chief Product Officer at Majesco. "Our focus is to provide a robust
platform that provides the open architecture, configurability,
ready-to-use content, pre-built capabilities and SaaS (News - Alert) based not just for
today's market demands, but for what is next - positioning our customers
as leaders in the Future of Insurance."
This release highlights Majesco's continued strategic investment in our
core systems to enable our customer's transformation and shift to future
of insurance. Insurers are seeking a platform that connects people and
business to insurance in ways that are innovative, hyper-relevant,
compelling and personal to drive growth and innovation for their
The new version brings new and innovative capabilities for further
improving speed to value, customer experience, ecosystem connectivity
and cloud delivery across all suite products with simple, easy and quick
upgrade. Insurers will be able to tap into 100 new features including
the following our favorite 11 key features:
Customer Panoramic View - A panoramic view of customer
portfolio through their entire lifecycle with drill down capabilities
as an effective underwriting and customer service tool.
Submission and Risk Clearance - Streamlined submission and risk
clearance pre-integrated with Majesco Policy for P&C.
Usage-based Billing - Mileage-based billing for auto insurance.
Enhanced Task Management - Centralized and enhanced task
management for the P&C Suite focusing on managing business exceptions
and approvals through automation and skill-based routing and
Global Search - All-purpose, generic search capability to find
any entity across all P&C suite products to initiate transactions
right from the search results.
Digital Tour Guide - In-app interactive tutorials and guided
tours of existing as well as newly released features for engaging and
improving user adoptions and their productivity.
Personal Assistant - AI Bot driven conversational UX for
navigation and quick completion of a task within a business process.
Natie Document Management - Preintegrated native document
composition, generation and storage modules with intuitive document
Open API & API Gateway (News - Alert) - 700+ OAS3.0 compliant APIs
covering all major P&C functions available over an enterprise gateway
servicing all APIs with enterprise monitoring and servicing feature
for Majesco CloudInsurer™ customer.
Ready-to-use Digital1st EcoExchange Capabilities - Built-In
integration and configuration capability to quickly integrate with any
Digital1st EcoExchange™ partner apps without coding.
Enterprise Security & Data Protection - User identity
management with popular cloud identity providers with multi-factor
authentication for added security measures as well as data protection
"Modern Insurers are looking for core systems that deliver robust out of
the box functionality to accelerate implementation, and an open
integration architecture that allows them to deliver unique customer
experiences and digital capabilities. Offering this in a secure, stable
cloud environment enables insurers to focus resources on
differentiators, not commodities like infrastructure. Forward-looking
solution providers like Majesco are meeting these needs," stated Martina
Conlon, Executive Vice President at Novarica.
Majesco CloudInsurer™ leverages Majesco's experience with over 35 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 including Majesco
Policy, Majesco Billing, and Majesco Claims.
Majesco Policy for P&C provides preconfigured ISO content, including all
rates, rules, forms, taxes, fees, and surcharges for 52 jurisdictions
(including DC and Puerto Rico), and provides a well-experienced monthly
bureau content update service. Together, the preconfigured bureau
content and Majesco Bureau and Content Update Services are designed to
provide agility, rapid product innovation, and speed to market, enabling
insurance companies to introduce new products and reach new markets
quickly and cost effectively. Majesco Enterprise Data Warehouse is
pre-integrated with the Majesco P&C software portfolio.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190415005406/en/
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