Global Tier 1 Life Insurer Selects Majesco CloudInsurer Platform to Transform Their Collections Operations Globally
July 18 2017 - 8:45AM
Business Wire
Highlights Majesco solutions’ flexibility to
respond to rapidly evolving insurer needs
Majesco (NYSE MKT:MJCO), a global provider of core insurance
software and consulting services for insurance business
transformation, today announced the selection of the Majesco
CloudInsurer platform by a leading provider of financial protection
benefits globally, to transform their collections operation across
multiple geographies. In the first phase, they will implement
Majesco CloudInsurer to modernize their collection operations in
one country to be followed by other Latin America countries and
additional territories in the Middle East and Asia.
The insurer is a leading life insurance and financial services
provider with operations in the Americas, Asia, Europe, Middle East
and Africa, serving over 100 million customers. The business
transformation program will consolidate their multitude of legacy
collection systems onto the Majesco CloudInsurer platform using
Majesco Billing, providing a single unified collections platform
across multiple territories. The advanced and flexible architecture
platform is expected to enable integration with their large number
of banks and payment channels, while supporting local regulatory
requirements.
“We are honored to add this premier insurer to our growing
customer community,” commented Prateek Kumar, EVP of the P&C
and L&A and Group business at Majesco. “As the insurance market
continues to change and adapt to new consumer demands, insurers are
seeking enterprise solutions designed to meet these rapidly
emerging new expectations and demands. We are committed to
providing the market with exceptional solutions that help them
achieve their growth strategies. We are proud to partner with them
in this strategic transformation program to enable their agility,
innovation and speed.”
Billing and Collections are no longer a back office function and
are front and center to the customer experience and reflected in
Majesco Billing. Majesco CloudInsurer is an enterprise platform
designed to uniquely support that customer experience across all
lines of business including Life, Annuity, disability and other
non-medical health, group and employee benefits, and P&C
products with over 30 cloud customers.
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.
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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version on businesswire.com: http://www.businesswire.com/news/home/20170718005717/en/
Majesco:Ashwin Rodrigues, +1-973-461-9087Director —
Global Marketingashwin.rodrigues@majesco.com
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