Majesco Named an InsurTech 100 Company for 2021
Press Release
Recognized as a Top Insurance Technology Company Transforming the Global Insurance Industry
Morristown, NJ – October 26th, 2021 – Majesco, a global leader of cloud insurance software solutions for insurance business transformation, today announced that it was recognized by FinTech Global as a top global InsurTech company for 2021. Majesco was selected from a list of over 1,400 companies by a panel of industry experts and analysts. InsurTech100 is an annual list of 100 of the world’s most innovative InsurTech companies that address the digital transformation challenges for the insurance industry. InsurTech insurance software companies, like Majesco, are technology organizations willing to develop solutions that will help improve operations and speed up the services that insurance companies need to provide while still being able to align with strict regulatory and compliance standards.
“Consumers and businesses increasingly expect insurance cover to be offered via a range of digital and offline channels, and insurers that fail to keep up with the latest technologies and innovation will be less competitive and lose market share over time,” says Richard Sachar, Global Director at FinTech. “The InsurTech100 list helps senior decision-makers in the industry filter through all the vendors in the market by highlighting the leading companies in sectors such as underwriting, pricing, IoT devices, distribution and data & analytics.”
The combination of shifting market changes, new products and channels, customer demands and competition from within and outside the industry has driven the need for more innovative digital solutions that can not only solve industry challenges but drive growth and innovation. As a result, this year’s selection process to identify the 100 InsurTech innovation leaders was more competitive than ever. To be considered for the top 100 list companies must meet the following criteria:
- Industry significance of the problem being solved
- Growth, in terms of capital raised, revenue, customer traction
- Innovation of technology solution
- Potential cost savings, efficiency improvement, impact on the value chain and/or revenue enhancements generated for clients
- How important is it for insurance executives to know about this company?
“We’re thrilled to be named an InsurTech100 company for 2021. We invest a significant portion of our revenue to innovation, and we work with our internal teams, customer product council and industry analysts to ensure we are creating product offerings that are inventive, necessary and transformative for our industry,” says Adam Elster, CEO of Majesco. “Our approach to innovation builds on creating the next generation of insurance technology products, enhancing existing products to meet future trends, and partnering with innovative incumbents and InsurTechs to extend the value and investment by our customers. This reflects the tremendous work from the entire Majesco team and further solidifies our market leading position.”
Majesco’s next-gen SaaS platform core, digital and data solutions are designed to help insurers modernize, innovate, and connect to build the future of their business at speed and scale. Our technology enables P&C, L&A and Group businesses to execute their digital transformation strategies and meet the demands of today’s tech-savvy customers. We work with insurers, reinsurers brokers, MGAs, InsurTech startups, greenfields and TPAs.
Majesco’s vision and commitment to create speed to value, speed to market and speed to innovation allows customers to rapidly adapt and capture market shifts keeping them on the leading edge.
About Majesco
Majesco is the leading software partner to both the P&C and L&A insurance markets to modernize, optimize and innovate their businesses at speed and scale. Over 330 insurers, from greenfields, start-ups and MGAs to the largest insurers, reinsurers and brokers use Majesco’s next generation SaaS platform solutions of core, data, and analytics, digital, distribution, absence management and a rich ecosystem marketplace of established and InsurTech partners to build the future of insurance.
Our technology, expertise and leadership help insurers innovate and connect to build the future of their business. With over 825 successful implementations and over 65% of our customers on Cloud with Majesco platform solutions, together we have an amazing track record of innovation and real-world results. For more details on Majesco, please visit www.majesco.com.