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Majesco Announces Ready-To-Use Partner Apps in Majesco Digital1st EcoExchange™

Majesco Digital1st EcoExchange™ is a dynamic, real-time marketplace
of pay-per-use insurance apps built with Majesco and its rich ecosystem
of data and solution partners

MORRISTOWN, N.J.–(BUSINESS WIRE)–Majesco (NASDAQ: MJCO), a global leader of cloud insurance software
solutions for insurance business transformation, today announced a wide
range of ready-to-use partner apps available in the Majesco Digital1st
EcoExchange™ marketplace, which is part of Majesco Digital1st
Insurance™ solutions.

Majesco Digital1st Insurance™ is a ground-breaking digital
and microservices-based solution designed to enable the next era of
insurance business models, products and customer engagement to drive
innovation and growth.

The Digital1st EcoExchange™ is a next-generation partner
ecosystem hub using third-party services with a standard, semantic layer
for easy integration and a true “plug-and-play” environment for both
traditional and InsurTech partners. The EcoExchange™ is different from
accelerators and other industry offerings with a code repository because
it works as an app store with API-based services. Majesco partners will
be able to list and offer any number of apps on the EcoExchange™ which
operates like any other marketplace or app store.

“The Digital1st EcoExchange™ is a next-generation marketplace
of partner apps designed to enable the insurance industry to make its
transition to the digital, on-demand era,” commented Manish Shah,
President and Chief Product Officer at Majesco. “The EcoExchange™
supports both experimentation and the creation of new business models
with the ability to rapidly scale. In today’s digital economy,
capabilities such as pay-per-use pricing and dynamic integration using
open APIs to create different cost structures can often mean the
difference between success and failure,” continued Manish.

The EcoExchange™ has a wide variety of apps currently available and in
development, ranging from a non-interactive service call all the way to
a comprehensive solution that can orchestrate multiple provider
services, including interactive conversations. The current list of
partner apps within the EcoExchange™ include:

CyberSource, Visa’s payment management platform

  • Online Payment Acceptance – A global, modular payment
    management platform built on secure Visa infrastructure helping
    businesses grow by enhancing customer experience, increasing revenues,
    and mitigating risk.

HazardHub

  • Property Basics – Our introductory data pack that answers your
    pressing, hard to gather data – Distance to Coast, Distance To Fire
    Station, Distance to Fire Hydrant, AAIS Fire Protection Class,
    Property Elevation, Year Built, Number of Bedrooms, and Square
    Footage, all for $1 per lookup.

LexisNexis

  • LexisNexis® Auto Data Prefill is an interactive single-inquiry
    solution that automates the insurance application process by
    delivering information at the initial point of contact with the
    consumer.
  • LexisNexis® C.L.U.E.® (Comprehensive Loss Underwriting
    Exchange) is a claim history information exchange that enables
    insurance companies to access prior claim information in the
    underwriting and rating process for auto, home and commercial
    insurance.
  • Motor Vehicle Records (MVRs)- LexisNexis is the single largest
    provider of MVRs to the insurance industry, allowing us to deliver
    innovative cost saving solutions. LexisNexis Duplicate Order check,
    Driver History Database, and Activity Files allow auto carriers to
    realize significantly reduced MVR data costs.
  • LexisNexis® National Credit File provides access to major
    credit bureau reports through a single point of entry with a common
    inquiry and results format to help segment risk. LexisNexis continues
    to enhance the platform and expand data sets, resulting in next
    generation credit attributes and insurance scores to provide a more
    granular view of a consumer’s information and risk.

Majesco

  • Send Mail by SMTP : Capability to send email using SMTP.

SmartyStreets

  • Address Validation – Validate, standardize and geocode complete
    addresses and zipcodes to minimize address issues and speed customer
    engagement processes.

SPLICE Software

  • FNOL Confirmation – Promptly confirm that a claim has been
    received and a claim number has been assigned; delivered via the
    policyholder’s communication channel of choice.
  • NPS Survey – Conduct Net Promoter Score® (NPS) Surveys allowing
    you to gauge overall customer satisfaction and measure changes over
    time. (Coming Soon!)
  • Post-Cat Notification – Follow-up with policyholders in
    affected areas after a major CAT event to provide general estimates
    for claims triage displaced policyholders and provide options for
    claim submissions. (Coming Soon!)
  • Claims Closure Notification – Finalize claims process by
    informing claimants of claim closure, including settlement amount (if
    any) and expected processing time for payment. (Coming Soon!)
  • Claim Appointment Reminder – Remind policyholder of an upcoming
    adjuster appointment, with the option to confirm or reschedule.
    (Coming Soon!)

Verisk

  • 360Value® Property Prefill – Verisk offers you the next
    generation of prefill with SmartSource™. SmartSource populates
    address-specific property characteristics from multiple sources,
    including public records data, real estate data, underwriting and
    claims estimates, and topographical data.
  • BCEGS® (Building Code Effectiveness Grading Schedule)
    Verisk’s ISO® Building Code Effectiveness Grading Schedule (BCEGS®)
    offers a fast, accurate way to get information on building code
    adoption and enforcement practices. Property/casualty insurers can use
    the information for underwriting and to grant premium credits for
    buildings constructed in communities with effective, well-enforced
    codes.
  • PPC® (Public Protection Classification) Service – Verisk’s ISO®
    Public Protection Classification (PPC®) Service helps
    property/casualty insurers assess fire protection capabilities at
    point of sale and renewal. The service provides a PPC® rating for
    communities throughout the United States based on key fire protection
    information, such as water supply, distance to the nearest fire
    station, fire department equipment and manpower, and emergency
    response systems.

“Insurers clearly recognize the value of fanatical attention on customer
experience and the need to deliver innovative new products through the
use of new digital capabilities and new sources of data. But those that
have to individually curate these solutions and then integrate the
solutions one at a time will face increasingly high costs,” said Karlyn
Carnahan, head of Celent’s property casualty practice for the Americas.
“This pre-curated ecosystem with the ability to rapidly deploy solutions
gives a tremendous jumpstart to carriers who are looking for rapid
transformation.”

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 190
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™
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.

Contacts

Tara Dilzer Alexander
Director, Marketing Communications and
Creative Services
+1 718 916 6873
[email protected]

Majesco Digital1st EcoExchange™ is a dynamic, real-time marketplace
of pay-per-use insurance apps built with Majesco and its rich ecosystem
of data and solution partners

MORRISTOWN, N.J.–(BUSINESS WIRE)–Majesco (NASDAQ: MJCO), a global leader of cloud insurance software
solutions for insurance business transformation, today announced a wide
range of ready-to-use partner apps available in the Majesco Digital1st
EcoExchange™ marketplace, which is part of Majesco Digital1st
Insurance™ solutions.

Majesco Digital1st Insurance™ is a ground-breaking digital
and microservices-based solution designed to enable the next era of
insurance business models, products and customer engagement to drive
innovation and growth.

The Digital1st EcoExchange™ is a next-generation partner
ecosystem hub using third-party services with a standard, semantic layer
for easy integration and a true “plug-and-play” environment for both
traditional and InsurTech partners. The EcoExchange™ is different from
accelerators and other industry offerings with a code repository because
it works as an app store with API-based services. Majesco partners will
be able to list and offer any number of apps on the EcoExchange™ which
operates like any other marketplace or app store.

“The Digital1st EcoExchange™ is a next-generation marketplace
of partner apps designed to enable the insurance industry to make its
transition to the digital, on-demand era,” commented Manish Shah,
President and Chief Product Officer at Majesco. “The EcoExchange™
supports both experimentation and the creation of new business models
with the ability to rapidly scale. In today’s digital economy,
capabilities such as pay-per-use pricing and dynamic integration using
open APIs to create different cost structures can often mean the
difference between success and failure,” continued Manish.

The EcoExchange™ has a wide variety of apps currently available and in
development, ranging from a non-interactive service call all the way to
a comprehensive solution that can orchestrate multiple provider
services, including interactive conversations. The current list of
partner apps within the EcoExchange™ include:

CyberSource, Visa’s payment management platform

  • Online Payment Acceptance – A global, modular payment
    management platform built on secure Visa infrastructure helping
    businesses grow by enhancing customer experience, increasing revenues,
    and mitigating risk.

HazardHub

  • Property Basics – Our introductory data pack that answers your
    pressing, hard to gather data – Distance to Coast, Distance To Fire
    Station, Distance to Fire Hydrant, AAIS Fire Protection Class,
    Property Elevation, Year Built, Number of Bedrooms, and Square
    Footage, all for $1 per lookup.

LexisNexis

  • LexisNexis® Auto Data Prefill is an interactive single-inquiry
    solution that automates the insurance application process by
    delivering information at the initial point of contact with the
    consumer.
  • LexisNexis® C.L.U.E.® (Comprehensive Loss Underwriting
    Exchange) is a claim history information exchange that enables
    insurance companies to access prior claim information in the
    underwriting and rating process for auto, home and commercial
    insurance.
  • Motor Vehicle Records (MVRs)- LexisNexis is the single largest
    provider of MVRs to the insurance industry, allowing us to deliver
    innovative cost saving solutions. LexisNexis Duplicate Order check,
    Driver History Database, and Activity Files allow auto carriers to
    realize significantly reduced MVR data costs.
  • LexisNexis® National Credit File provides access to major
    credit bureau reports through a single point of entry with a common
    inquiry and results format to help segment risk. LexisNexis continues
    to enhance the platform and expand data sets, resulting in next
    generation credit attributes and insurance scores to provide a more
    granular view of a consumer’s information and risk.

Majesco

  • Send Mail by SMTP : Capability to send email using SMTP.

SmartyStreets

  • Address Validation – Validate, standardize and geocode complete
    addresses and zipcodes to minimize address issues and speed customer
    engagement processes.

SPLICE Software

  • FNOL Confirmation – Promptly confirm that a claim has been
    received and a claim number has been assigned; delivered via the
    policyholder’s communication channel of choice.
  • NPS Survey – Conduct Net Promoter Score® (NPS) Surveys allowing
    you to gauge overall customer satisfaction and measure changes over
    time. (Coming Soon!)
  • Post-Cat Notification – Follow-up with policyholders in
    affected areas after a major CAT event to provide general estimates
    for claims triage displaced policyholders and provide options for
    claim submissions. (Coming Soon!)
  • Claims Closure Notification – Finalize claims process by
    informing claimants of claim closure, including settlement amount (if
    any) and expected processing time for payment. (Coming Soon!)
  • Claim Appointment Reminder – Remind policyholder of an upcoming
    adjuster appointment, with the option to confirm or reschedule.
    (Coming Soon!)

Verisk

  • 360Value® Property Prefill – Verisk offers you the next
    generation of prefill with SmartSource™. SmartSource populates
    address-specific property characteristics from multiple sources,
    including public records data, real estate data, underwriting and
    claims estimates, and topographical data.
  • BCEGS® (Building Code Effectiveness Grading Schedule)
    Verisk’s ISO® Building Code Effectiveness Grading Schedule (BCEGS®)
    offers a fast, accurate way to get information on building code
    adoption and enforcement practices. Property/casualty insurers can use
    the information for underwriting and to grant premium credits for
    buildings constructed in communities with effective, well-enforced
    codes.
  • PPC® (Public Protection Classification) Service – Verisk’s ISO®
    Public Protection Classification (PPC®) Service helps
    property/casualty insurers assess fire protection capabilities at
    point of sale and renewal. The service provides a PPC® rating for
    communities throughout the United States based on key fire protection
    information, such as water supply, distance to the nearest fire
    station, fire department equipment and manpower, and emergency
    response systems.

“Insurers clearly recognize the value of fanatical attention on customer
experience and the need to deliver innovative new products through the
use of new digital capabilities and new sources of data. But those that
have to individually curate these solutions and then integrate the
solutions one at a time will face increasingly high costs,” said Karlyn
Carnahan, head of Celent’s property casualty practice for the Americas.
“This pre-curated ecosystem with the ability to rapidly deploy solutions
gives a tremendous jumpstart to carriers who are looking for rapid
transformation.”

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 190
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™
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.

Contacts

Tara Dilzer Alexander
Director, Marketing Communications and
Creative Services
+1 718 916 6873
[email protected]

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