Colorado Farm Bureau Mutual in Production with Majesco Policy for P&C

Highlights Value of Long-Term Customer Relationships

MORRISTOWN, N.J.--()--Majesco (NYSE MKT:MJCO), a global provider of core insurance software, consulting and services for insurance business transformation, today announced that its client, Colorado Farm Bureau Mutual Insurance Co. (Colorado Farm Bureau Mutual) went live earlier this year on Majesco Policy for P&C as their strategic enterprise platform.

Commenting on the development, Art Wallace, Vice President - Underwriting for Colorado Farm Bureau Mutual, said, “We have been working with Majesco for over 11 years. Last year we made a decision to upgrade to Majesco Policy for P&C as a strategic platform to run our Commercial Lines business. Majesco Policy for P&C has enabled Colorado Farm Bureau Mutual Insurance to achieve speed to market with its commercial lines experience, robust pre-built content and ISO products and modern user interface.”

Majesco is committed to providing the latest and the best to our customers and building long-term relationships” commented Prateek Kumar, EVP – P&C Business for Majesco. “Our customers look to Majesco to provide them the agility, scalability and speed to market with modern technology solutions that can be deployed quickly and cost effectively. We thank and appreciate Colorado Farm Bureau Mutual for their business and confidence in Majesco’s solutions.”

Majesco Policy for P&C supports Colorado Farm Bureau Mutual’s Business owners and Business Auto policies and its commercial package lines of business, including commercial property, inland marine, general liability, auto and crime.

Majesco Policy for P&C provides pre-configured 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 Services are designed to provide agility, rapid product innovation and speed to market opportunities to enable insurance companies to introduce new products and reach new markets quickly and cost effectively, to capture market share.

About Majesco

Insurance business transformation is a journey of change and revitalization, a renaissance of Insurance. Approximately 150 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 modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more.

For more details on Majesco, please visit www.majesco.com.

About Colorado Farm Bureau Mutual Insurance Company

In 1950, Colorado Farm Bureau Mutual Company was established under sponsorship of Colorado Farm Bureau. Today, just 65 years later, Colorado Farm Bureau Mutual Insurance Co. as it is known today, has grown into a full service provider of insurance products and services. From humble beginnings, we have become a great service and benefit to the great members and supporters of Colorado Farm Bureau, a company dedicated to the mission of protecting the agricultural rights that affect all of Colorado.

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.

Contacts

Majesco:
Ashwin Rodrigues, +1-973-461-9087
Director — Global Marketing
ashwin.rodrigues@majesco.com

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Contacts

Majesco:
Ashwin Rodrigues, +1-973-461-9087
Director — Global Marketing
ashwin.rodrigues@majesco.com