Guardian Insurance Selects Majesco P&C Policy on Majesco CloudInsurer™ to Accelerate their Business Growth

Majesco (NYSE American: MJCO), a global leader of cloud core insurance
software, today announced that Guardian Insurance based in Puerto Rico
selected Majesco P&C Policy on Majesco CloudInsurer™ as the foundation
of their business transformation and growth strategy.

Guardian Insurance was founded in 1984 and is based in St. Thomas,
Virgin Islands. Guardian is a member of Lockhart Companies, Inc., a
parent company established in the 1800's and largest real estate holding
company in the US Virgin Islands. Guardian provides property and
casualty insurance for both individuals and businesses in both the
Virgin Islands and Puerto Rico, with expansion plans for other
commercial lines in Puerto Rico. The selection expands Majesco customer
to 19 in Puerto Rico, with all on Majesco CloudInsurer™, reflecting the
strength and value of the cloud platform.

“Guardian is committed to innovation so that we can offer a compelling
experience and competitive products to our partners and customers and
the selection of Majesco solutions is aligned to that mission,” stated
Jorge Benitez, Senior Vice President at Guardian Insurance. “Majesco’s
strong market presence and leading-edge solutions in the Cloud offered
us the ability to rapidly get new products to market to fuel our growth
strategy. We are looking forward to our implementation and the value it
will bring to our customers, partners and employees.”

With the selection of Majesco P&C Policy on Majesco CloudInsurer™, they
will be able to write ISO commercial lines, leveraging the ready-to-use
content including ISO based rates, rules and forms and the automated
monthly updates for both the software and ISO content.

“We are excited to add Guardian to our customer base in Puerto Rico and
helping them accelerate their growth and transformation strategy,” said
Prateek Kumar, EVP for Majesco. “The uniqueness of the Puerto Rican
market highlights the value of cloud-based platform that can support the
broad and changing risk needs with innovative new insurance products
while providing safe, scalable and secure operations. Our core platform
is recognized as a platform for growth and innovation at scale and
speed. We welcome Guardian to our customer community.”

Majesco CloudInsurer leverages Majesco’s experience with over 38 cloud
customers, providing a business platform with broad appeal for all
insurers from greenfields, new start-ups and incubators to mid-market
and tier one insurers. Majesco CloudInsurer provides a core insurance
software platform leveraging Majesco core solutions including Majesco
Policy, Majesco Billing, and Majesco Claims. Majesco Policy for P&C
provides pre-configured ISO content, including all rates, rules, forms,
taxes, fees, and surcharges for 52 jurisdictions (including DC and
Puerto Rico), and provides a well-experienced monthly bureau content
update service. Together, the preconfigured bureau content and Majesco
Bureau and Content Update Services are designed to provide agility,
rapid product innovation, and speed to market, enabling insurance
companies to introduce new products and reach new markets quickly and
cost effectively.

About Majesco

Insurance business transformation is a journey of change and
revitalization, a renaissance of Insurance. Approximately 160 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
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changes in economic conditions, political conditions, trade protection
measures, licensing requirements and tax matters; technology development
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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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