Potential benefits include cost savings, faster speed-to-market, and operational efficiencies
Morristown, NJ (Sept. 11, 2015) – Majesco, a global provider of software, consulting and services for insurance business transformation, and Deloitte Consulting LLP are extending their existing relationship. This combination will help property and casualty (P&C), life and annuity (L&A), and Group insurers implement Majesco’s modern core solutions to realize system consolidations, improved flexibility, quicker response to market and regulatory changes, and increased speed-to-market for new products, among other potential benefits.
“As insurers define their strategies to compete in a fast changing market, the collective value of quality core insurance software and implementation services help build the foundation of a successful transformation and long term business strength,” said Neal Baumann, principal and insurance sector leader, Deloitte Consulting LLP. “Bringing Majesco’s industry-leading core insurance software together with Deloitte’s long history and track record in business transformation can provide tremendous strategic value to our joint insurer clients.”
Deloitte clients will have access to Majesco’s portfolio of insurance solutions covering P&C-General Insurance, Life, Annuity and Pensions and Health Insurance, while Majesco’s clients will have expanded options for core systems transformation and implementation experience. The combination of Majesco’s portfolio of core insurance solutions and Deloitte’s decades of strategy and transformation experience will help enable insurers to compete today and in the future.
“We have been pleased to work with the Deloitte team for the last three years on a number of shared customer initiatives. This announcement further accelerates our relationship by creating depth in business transformation and implementation options for our customers.” said Ed Ossie, Majesco’s chief operating officer. “We are focused on helping our clients maximize the investment and impact of their unique transformation journey every step of the way.”
Majesco (NYSE MKT: MJCO) enables insurance business transformation for approximately 140 insurance customers by providing solutions which include software, consulting and services.
Our customers are insurers, MGA’s and other risk providers from the Property and Casualty, Life, Annuity and Group insurance segments worldwide. Majesco delivers proven software solutions, consulting and services in the core insurance areas such as policy, billing, claims, distribution management, BI/ analytics, digital, application management, cloud and more. For more details on Majesco, please visit www.majesco.com.
As used in this document, “Deloitte” means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
Deloitte is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, tax and related services to select clients. These firms are members of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”). Each DTTL member firm provides services in particular geographic areas and is subject to the laws and professional regulations of the particular country or countries in which it operates.
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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.