MORRISTOWN, N.J.--(BUSINESS WIRE)--
Manish Shah and Denise Garth to Highlight Next-Generation Market Trends, Technology, Products and Business Models for Innovative On-Demand Insurance
Majesco (MJCO), a global leader of cloud insurance software solutions for insurance business transformation, today announced that President & Chief Product Officer Manish Shah and SVP of Strategic Marketing, Industry Relations and Innovation Denise Garth will present at the Silicon Valley Insurance Accelerator (SVIA) Digital Insurance Leadership Series: On Demand Insurance Workshop on August 7, 2019 and August 8, 2019.
To kick off the Workshop on Wednesday, August 7th, Denise Garth will discuss highlights from Majesco’s primary research on emerging trends in the gig and sharing economy, customer expectations for On-Demand in insurance, and the response from InsurTechs and other industry players. She’ll also focus on how Majesco has been working with incumbents in insurance to leverage these trends as they build the future of their businesses. She will then join SVIA’s CEO and Cofounder Mike Connor, Slice Labs Chief Growth Officer Phillipe Lafreniere, and AppOrchid CEO and Founder Krishna Kumar for a session on On-Demand Insurance: Vision, Business & Tech Drivers & Trends & Investment. To close the Workshop on Thursday, August 8th, Denise will join Mike and others for a round-robin panel on Accelerating Growth of On-Demand Insurance Solutions Through Collaboration & Partnering.
“Our research indicates that a growing customer expectation for innovative new products that meet their needs and align to their digital behaviors, particularly millennials and Gen Z, creating new growth opportunities for insurers who can effectively respond,” commented Denise Garth, SVP of Strategic Marketing, Industry Relations and Innovation at Majesco. “On-Demand products are reinventing the insurance business model and how products are being created, priced with new data sources, underwritten and distributed across all product lines from travel, health, event, auto, home, personal items, life insurance and others. Insurers must actively engage to be relevant in a new era of insurance.”
In his Wednesday session on Core Systems and Interoperable Data Models in On-Demand Solutions, Manish Shah will examine the implications for business and operating models as they relate On-Demand Insurance; with lower expense ratios and higher transactional volumes due to the episodic and low premium nature of this kind of business, the balanced blend of customer engagement and core processing components in a single platform is a must for any viable business model. He will also discuss Majesco’s head start on designing the platform for On-Demand Insurance and working with innovative insurers to rapidly develop and launch On-Demand products.
“Insurers are rapidly innovating to bring new types of On-Demand insurance products that are aligned with shifting market and customer dynamics that require a new digital operating model underpinned by next-generation cloud, microservices, AI and API-based technology,” said Manish Shah, President and Chief Product Officer for Majesco. “The ability to launch and operate new products quickly and cost effectively while delivering personalized customer experiences is crucial for on-demand insurance. We are fortunate to have an early start in working with a number of insurers to build an in-depth understanding of this growing market and advance our platform.”
Majesco (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.
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.
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