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Texas Farm Bureau Insurance Expands Lines of Business on Majesco Policy for P&C

Farm Liability Now in Production

MORRISTOWN, N.J.–(BUSINESS WIRE)–Majesco (NASDAQ: MJCO), a global leader of cloud insurance software platforms, today announced Texas Farm Bureau Insurance expanded the lines of business on Majesco Policy for P&C with Farm Liability, converting from their legacy home-grown system. This follows their upgrade to Majesco CloudInsurer® announced in December 2019 and demonstrates their agility and speed to market for new lines of business.

We’re continuing to modernize our operations by leveraging the Majesco Policy for P&C for a broader portfolio of our business to provide our customers with next generation capabilities that will enhance our service and strengthen our customer satisfaction ratings,” says Craig Daughtery, Vice President of Underwriting at Texas Farm Bureau Insurance. “Majesco continues to deliver on its promise of providing innovative solutions delivered with speed and quality.”

Texas Farm Bureau Insurance has been protecting customers since 1952 with a mission to help customers manage financial risks of everyday life and successfully recover from any insured loss through prompt, professional and personal service. For nine consecutive years, it has been proudly ranked “Highest Customer Satisfaction among Auto Insurers in Texas” by J.D. Power. Texas Farm Bureau Insurance has been a customer of Majesco since 2015.

The expanding partnership will help Texas Farm Bureau Insurance to continue to deliver speed and scalability to their leading commercial lines of operation, ensuring top-level customer service.

We’re proud to have Texas Farm Bureau Insurance as a partner and support them in their digital transformation,” says Prateek Kumar, EVP of Majesco. “As an organization who prides themselves on customer satisfaction, we’re happy to have helped them continue to press boundaries and improve their overall customer experience.”

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, as amended by its Quarterly Reports on Form 10-Q.

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: the adverse impact on economies around the world and our customers of the current COVID-19 pandemic; our ability to achieve increased market penetration for our product and service offerings and obtain new customers; our ability to raise future capital as needed; the growth prospects of the property & casualty and life & annuity insurance industry; the strength and potential of our technology platform and our ability to innovate and anticipate future customer needs; our ability to compete successfully against other providers and products; data privacy and cyber security risks; technological disruptions; our ability to successfully integrate our acquisitions and identify new acquisitions; the risk of loss of customers or strategic relationships; the success of our research and development investments; changes in economic conditions, political conditions and trade protection measures; regulatory and tax law changes; immigration risks; our ability to obtain, use or successfully integrate third-party licensed technology; key personnel risks; and litigation risks.

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

Laura Tillotson

Director, Marketing Communications and Creative Services

+ 201 230 0752

laura.tillotson@majesco.com

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