News | October 1, 2019

CCMSI Replaces Legacy Systems With Majesco Policy And Billing For P&C And Majesco Insurance Data & Analytics Platform On Majesco CloudInsurer

MORRISTOWN, N.J.--(BUSINESS WIRE)--

Majesco (NASDAQ: MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that Cannon Cochran Management Services Inc. (CCMSI), the largest privately held third-party administrator and an MGA in the U.S., is live on Majesco Policy and Billing for P&C and Majesco Insurance Data & Analytics Platform on Majesco CloudInsurer™.

By replacing their legacy systems with Majesco’s cloud-based solutions CCMSI will accelerate their ability to create innovative, custom multi-line P&C programs for the thousands of customers of all sizes and deliver customer service that meets their high standards.

This first phase of the implementation, for CCMSI’s Workers Compensation line of business, included multiple carrier programs across multiple states, all with their own rules and processes, which CCMSI has now streamlined and standardized. The entire project, from initiation to “go live” took 11 months, and CCMSI will begin implementing next phases for five additional lines of business very soon.

“CCMSI is committed to creating innovative multi-line property and casualty solutions for thousands of companies, both large and small,” commented Kerry Rademacher, VP of Underwriting at CCMSI. “Our partnership with Majesco is critical to our ability to offer our customers a boutique experience with all the resources of a powerhouse. We are excited that this first phase of our implementation is complete and look forward to seeing the same results across our other lines of business.”

“Majesco’s cloud-based core solutions, united with our data and analytics platform, is helping companies like CCMSI transform complexity into simple experiences that make innovation and decision-making faster and easier, ” said Prateek Kumar, EVP at Majesco. “We are thrilled to partner with CCMSI, a company who values innovation and transparency backed by quality service, expertise and state of the art technology aligns with our own vision for the future of insurance.”

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.


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