Majesco Joins the Association of Financial Mutuals

Dublin, Ireland – September 5, 2019 – Majesco (NASDAQ: MJCO), a global provider

of cloud-based, core insurance platform software, has joined the Association of Financial Mutuals, the trade body which represents mutual and not-for-profit insurers, friendly societies and other financial mutuals across the UK.

Majesco works extensively with over 200 insurers across all lines of business for life and non-life, including InsurTech start-ups and greenfields by providing core, innovative cloud and digital solutions to help the insurance industry and clients transform their business.  New and innovative business models, products, services and channels, as well as new approaches to customer engagement are becoming the new norm for insurance, demanding agility, speed and innovation which is dramatically different from legacy insurance practices.  Majesco has been an early thought leader about the change and disruption in the insurance market and continues to accelerate overall market awareness of our solutions and rapid time-to-value.  Sharing our views and gaining insight from the Association of Financial Mutuals will be imperative to help insurers build their future in the insurance industry.

Members of the Association of Financial Mutuals benefit from access to networking, research, regular training and events, and topical updates and responses to government and regulators on issues that affect mutuals based in the UK.

Martin Shaw, Chief Executive of the Association of Financial Mutuals commented: “We are delighted to announce Majesco as the latest associate member of the Association of Financial Mutuals. Majesco has previously shown support in sponsoring our annual conference and AGM and we are pleased to cement this relationship further by granting Majesco associate membership. We believe that their wide range of thought leadership, from webinars to white papers, will be of great benefit to our members. We look forward to working with Majesco and using the best of their knowledge and skills around technology to help to educate and support our members.”

Norman Carroll, Managing Director,  Majesco Europe commented: “We look forward to teaming up with the Association of Financial Mutuals and their members.  We are committed to providing technology, expertise and leadership that will help the UK mutuals industry modernise, innovate and connect to the future of their business. We expect that by collaborating with the Association of Financial Mutuals we will be able to learn a great deal more about the industry and facilitate mutuals in learning more about the future of insurance and how it can be achieved with technology.”

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.

About Association of Financial Mutuals

The Association of Financial Mutuals is the trade body that represents mutual and not-for-profit insurers, friendly societies and other financial mutuals across the UK.

A financial mutual is an organisation that supplies financial services products, and which is owned by its customers, or members. That means there are no shareholders to pay dividends to or account to, and a mutual can concentrate entirely on delivering products and services that best meet the needs of its customers. Between them, mutual and not-for-profit insurers manage the savings, pensions, protection and healthcare needs of over 30 million people in the UK and Ireland, annual premium income of £19.6 billion, and nearly 30,000 employees (source: www.ICMIF.org).

AFM is committed to protecting and progressing the principles of mutuality through the promotion of best practice and a commitment to working together and in the interest of members, customers and other stakeholders. Find out more by visiting www.financialmutuals.org.

For further information please contact:

Association of Financial Mutuals
Tamasin Larocque-Fathers
Administrative Officer
Association of Financial Mutuals
Mobile: 07741 656605
www.financialmutuals.org

Majesco
Sharon Cronin
EMEA Marketing Manager
+353 86 3584766
sharon.cronin@exaxe.com