Integration of Denim’s platform with Majesco
Digital1st EcoExchange and Majesco Distribution Management will
engage customers and prospects with their insurance carrier and
agent channels
Majesco (NYSE MKT: MJCO), a global provider of core insurance
software and consulting services for insurance business
transformation, today announced a partnership with Denim, creator
of the mobile and social media marketing platform that changes the
way insurance and financial services companies advertise, engage,
and sell. Denim is the first to integrate with Majesco’s Digital1st
EcoExchange, enabling the next era of customer engagement and
supporting a new generation of business models and products.
Denim’s patent-pending platform enables corporate marketers to
launch, manage, and scale social media advertising for thousands of
agents, advisors, and brokers in just two minutes. Denim-powered
ads are corporately managed and delivered locally on behalf of
independent or affiliated agents. This frees advisors from social
media activities and allows them more time for high-value sales and
relationship building with their customers. Denim is an InsurTech
startup with an investor portfolio including RGAx, the innovation
subsidiary of Reinsurance Group of America, and American National
Insurance Company, one of Denim’s first customers.
Integration of the Denim platform with Majesco Digital1st
EcoExchange and Majesco Distribution Management will enhance
insurance companies’ ability to effectively connect social media
marketing campaigns with agents to drive consumer engagement, lead
generation, and conversion. This is particularly important for the
Millennial and Gen Z generations who use social media and texting
via chat bots extensively. The Majesco Digital1st EcoExchange
platform enables insurers to integrate new and innovative content,
data, and collaboration capabilities together to provide a cohesive
digital experience for an insurer’s agents. The Majesco
Distribution Management solution provides the core distribution
management capabilities to manage channel appointments,
compensation, and more.
“Enabling the insurance industry to shift more rapidly to the
digital age is at the core of both the Majesco Digital1st
EcoExchange and the Denim platform,” said Gregory Bailey, Denim CEO
and co-founder. “Integrating the two solutions will enable insurers
to embrace innovation through streamlined access to the Denim
platform.”
"Denim provides a unique solution for insurance carriers to
effectively engage with customers and prospects and connect them
with their agent channel or any other alternative channel they may
be using,” commented Manish Shah, EVP of Products for Majesco. “The
agent channel continues to be clear choice, but digital engagement
from the customer to the insurer and channel is critical in today’s
digital age. This partnership will link all the key elements
together to help insurers optimize their agent channels and reach a
generation of new buyers via mobile and social media. We are
excited about the partnership and the opportunity together moving
forward.”
The Majesco Digital1st insurance portfolio provides the next
generation of solutions enabling insurers to design custom journeys
that cut through traditional insurance silos (systems and lines of
business) with cloud-based, real-time, insurance
specific-capabilities that enhance the customer experience. The
micro-services based platform is designed to help insurers adapt
and innovate in a rapidly changing competitive landscape. The
portfolio includes Majesco Digital1st Journey Designer, the next
generation of digital tools to design customer journeys with
embedded insurance-specific content for various persona; Majesco
Digital1st eConnect, the next generation of digital engagement
beyond portal and mobile with insurance-specific content that will
deliver personalized customer experience; Majesco Digital1st
EcoExchange, the next generation of partner ecosystem hub using
third-party services with a standard semantic layer for easy
integration and a true “plug and play” environment for traditional
and InsurTech partners; and Majesco Digital1st Platform, the
industry’s first micro-services platform bundled with rich
insurance content across P&C and L&A business segments to
enable a new generation of business models and products that
require on-demand capabilities, high volume of transactions and
extensive use of new real-time data sources that traditional core
systems cannot effectively support.
Majesco Distribution Management is a standalone, modern solution
that enables insurance carriers to manage the entire distribution
landscape with comprehensive business capabilities and diverse
channel options, supporting the increasing need of a multi-channel
environment. The solution allows insurers to effectively administer
a range of distribution channels and producers from registration to
termination, compensation, and performance management, and launch
innovative contests and personalize payment schedules for producers
to help drive business growth. The highly configurable platform
enables ease of integration within the insurance carrier’s business
system landscape. It is pre-integrated with Majesco Policy for
P&C and Majesco Policy for L&A and Group, which are
Majesco’s industry-leading policy management solutions.
About Denim
Denim is reimagining marketing and distribution with wicked
smart technology. Designed with today’s mobile and social consumers
in mind, Denim’s patent-pending platform improves marketing ROI by
changing the way insurance and financial services companies
advertise, engage, and sell. With a focus on delivering a simple
and intuitive platform, Denim not only delivers results, it's
enjoyable to use. To learn more, visit denimlabs.com.
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/20171026005109/en/
MajescoAshwin Rodrigues, +1-973-461-9087Director — Global
Marketingashwin.rodrigues@majesco.com
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