Majesco, a global leader of cloud intelligent insurance solutions for insurance business transformation, is thrilled to announce its recognition as one of the top 100 innovative InsurTech companies for 2024. This prestigious accolade, awarded by FinTech Global, highlights the most forward-thinking solution providers that are driving transformation in the insurance industry. Selected by a panel of seasoned industry experts and analysts, this recognition serves as a vital resource for insurance leaders navigating their digital transformation strategies.
The InsurTech100 has garnered significant attention in previous years, with featured companies generating increased awareness among insurance firms and attracting interest from financial institutions and prospective clients. The 2024 list continues this tradition by recognizing the next generation of solution providers that are poised to shape the future of the insurance industry.
Despite recent challenges in the macroeconomic environment, the InsurTech industry remains resilient, boasting remarkable year-on-year growth. Projects suggest the InsurTech market could reach an astounding $496.5 billion by 2023, showcasing a compound annual growth rate (CAGR) of 38.8%.
"We are both proud and excited to be named an InsurTech100 company for another year," says Adam Elster, CEO at Majesco. "This honor underscores our leadership in delivering cutting-edge GenAI capabilities that empower insurers to transform their operations and elevate customer experiences. We remain committed to delivering intelligent solutions that help insurers adapt and thrive in today's dynamic landscape."
The selection criteria for the InsurTech100 considered several key factors, including the significance of the industry problem being addressed, growth metrics like capital raised and revenue, and the innovation of technology solutions. Majesco’s inclusion underscores its potential for generating cost savings, improving operational efficiency, and enhancing the overall value chain for clients.
In its Fall ’24 product release, Majesco introduced new intelligent features powered by Majesco Copilot – the industry’s first and only GenAI solution for core insurance. This multi-modal GenAI insurance solution is now seamlessly integrated across the entire product portfolio, enabling incredible operational benefits including a 10-20 times boost in productivity with an expected time-savings of 44%.
For more information on Majesco solutions, please visit www.mjaesco.com.
About Majesco
Majesco is the partner P&C and L&AH insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what is next, without losing sight of what’s important now. Over 350 insurers, from MGAs, greenfields and startups to some of the world’s largest insurers and reinsurers, rely on Majesco’s intelligent SaaS platforms solutions, with GenAI powered insurance data analytics, of core, data, analytics, distribution, underwriting, loss control, digital, and rich ecosystem of partners to create their next now.
As an industry leader, we don’t believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 1000+ successful implementations and 90% of our customers in the cloud we are uniquely qualified to bridge the gap between a traditional insurance industry approach and a pure digital mindset. We give customers the confidence to decide, the products to perform, and the follow-through to execute.
For more information, please visit www.majesco.com and follow us on LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241022243184/en/
Contacts
Laura Tillotson
Vice President, Marketing Communications and Creative Services
+ 201 230 0752
Laura.Tillotson@majesco.com
