Majesco Secures Place in Top 50 in IDC FinTech Rankings, Reinforcing Leadership in Financial Technology

MORRISTOWN, N.J.--(BUSINESS WIRE)--Majesco, a global leader of cloud intelligent insurance solutions for insurance business transformation, announced today it was categorized as a 2024 IDC FinTech Rankings Top 50 solution provider, moving up from the Top 100 category in 2023. The elite list features the technology companies from around the globe that are focused on providing solutions to the financial services and FinTech industries.

“We’re incredibly proud and excited to be ranked among the top 50 in the 2024 IDC FinTech Rankings,” says Adam Elster, CEO at Majesco. “Our embedded analytics and generative AI capabilities are transforming and optimizing insurance operations, delivering unprecedented insights and efficiency. As we continue leveraging these breakthrough technologies, we are building smarter, more agile solutions that address the evolving needs of our clients and the broader industry.”

The Fortune 500-style ranking categorizes and evaluates the top global providers of financial technology based on calendar year revenues from financial institutions for hardware, software and/or services. These providers supply the technological backbone of the financial services industry, an industry in which IDC forecasts worldwide spending on IT across the globe to be over $800 billion (USD) by 2026.

To thrive in a digital economy, financial services organizations must embrace innovation and integrate new technology that enhances the customer experience and delivers operational excellence. Majesco and the organizations featured on the IDC FinTech Rankings Top 50, represent those organizations committed to helping financial services companies successfully execute their digital transformation initiatives for the betterment of their customers around the world. IDC Financial Insights publishes a comprehensive report about the year’s findings that is available to view or download here.

Majesco is at the forefront of industry innovation by seamlessly embedding data and analytics into all their solutions, paving the way for advanced, intelligent systems. Its robust data and analytics infrastructure provides real-time access to all the operational data from Majesco solutions in a data lakehouse, embedded business intelligence dashboards, embedded AI/ML models developed by Majesco or from our partner ecosystem and GenAI. Majesco Copilot, the industry’s first and only Gen AI assistant in core, is embedded on every screen of Majesco solutions to optimize day-to-day transactions, further proving its commitment to delivering innovative technology. As insurers begin to look at 2025, understanding the power of GenAI and AI and the impact for insurer operations to optimize, improve productivity 80-90%, and bend the learning curve for employees is not something that can be ignored.

For more information on Majesco solutions, please visit www.majesco.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.