Majesco Appoints Wes Thompson to Board of Directors

Business Wire

Thompson brings extensive individual life, annuity and group insurance experience

MORRISTOWN, N.J.--(BUSINESS WIRE)-- Majesco (NYSE MKT:MJCO), a global provider of core insurance software, consulting, and services for insurance business transformation, today announced that Wes Thompson was appointed to its Board of Directors.

“We are pleased to welcome Mr. Thompson to Majesco’s Board of Directors. Wes is a respected and well known executive in the industry,” said Ketan Mehta, CEO and Founder of Majesco. “His extensive experience across individual life, annuity and group insurance brings a wealth of knowledge and experience of insurer’s strategies, operational needs, challenges and opportunities that are unfolding in the industry. Together these unique insights, experience and advice will help guide the vision and strategic opportunities of Majesco.”

“I am looking forward to working with such a diverse and forward looking Board and Management team committed to the future success of the insurance industry as it faces significant change,” commented Wes Thompson. “With so much change occurring in the industry, I am excited to channel my experience and insights from the insurance c-suite, to help Majesco be the leader in enabling insurers to meet these challenges and opportunities.”

Most recently, Mr. Thompson served as President of Sun Life Financial U.S. where he was responsible for all aspects of the company’s insurance business including employer paid group benefits, voluntary group benefits, annuities and individual life insurance. He renewed the strategic direction of the company, championing key initiatives to expand the business, transforming the group benefits business to a customer-focused operating model, and advancement of the brand in the U.S. market. Mr. Thompson has held executive roles at CIGNA and Lincoln Financial Group where he was also involved in acquisitions. Mr. Thompson retired from Sun Life in April 2014 and has pursued a variety of entrepreneurial interests through his own business development and consulting company, Amedis LLC. Mr. Thompson earned a Bachelor’s degree from Brown University.

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.