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Magma General Insurance
Location
Equinox Business Park, Tower 3, 2nd Floor, Unit No. 1B & 2B, LBS Marg, Kurla (West),
Mumbai, 400070,
India
Website
https://www.magmainsurance.com/
Phone
1800 266 3202
Artw industry
Insurance
Employee
Revenue

Magma General Insurance Technographics

Magma General Insurance Software Purchases and Digital Transformation Initiatives

Discover the latest software purchases and digital transformation initiatives being undertaken by Magma General Insurance and its business and technology executives. Each quarter our research team identifies on-prem and cloud applications that are being used by the 1800 Magma General Insurance employees from the public (Press Releases, Customer References, Testimonials, Case Studies and Success Stories) and proprietary sources.

During our research, we have identified that Magma General Insurance has purchased the following applications: FIS Insurance Accounting Suite for Insurance ERP in 2024, FIS Insurance Statutory Reporter for Analytics and BI in 2023, Microsoft 365 for Collaboration in 2024 and the related IT decision-makers and key stakeholders.

Our database provides customer insight and contextual information on which enterprise applications and software systems Magma General Insurance is running and its propensity to invest more and deepen its relationship with FIS Global , Microsoft , Liferay or identify new suppliers as part of their overall Digital and IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.

We have been analyzing Magma General Insurance revenues, which have grown to $397.0 million in 2024, plus its IT budget and roadmap, cloud software purchases, aggregating massive amounts of data points that form the basis of our forecast assumptions for Magma General Insurance intention to invest in emerging technologies such as AI, Machine Learning, IoT, Blockchain, Autonomous Database or in cloud-based ERP, HCM, CRM, EPM, Procurement or Treasury applications.

Magma General Insurance Data, Technology Stack, and Enterprise Applications
ERP Services and Operations
Vendor
Previous System
Application
Category
Market
VAR/SI
When
Live
Insight
FIS Global Legacy FIS Insurance Accounting Suite Insurance ERP ERP Services and Operations n/a 2024 2024
In 2024 Magma General Insurance implemented the FIS Insurance Accounting Suite as part of an end-to-end IFRS 17 program that also selected FIS Insurance Risk Suite Prophet GI for reserving, modeling and compliance. The FIS Insurance Risk Suite Prophet GI deployment was positioned to improve actuarial calculation performance and to provide connectivity to downstream finance systems in India. The FIS Insurance Accounting Suite implementation emphasized insurance accounting and reporting capabilities aligned to IFRS 17, reflecting typical Insurance ERP functionality for structured accounting postings, ledger mapping and period close orchestration. Configuration work focused on mapping actuarial outputs from Prophet GI into accounting ledgers and journal posting templates to enable automated ledger postings and standardized statutory and management reporting. Integrations centered on the data pipeline between FIS Insurance Risk Suite Prophet GI and Magma finance systems, delivering actuarial reserves and model outputs into the FIS Insurance Accounting Suite and downstream general ledger processes in India. Operational scope covered actuarial and finance functions within Magma General Insurance, creating an end-to-end flow from reserving and modeling through to accounting entries and reporting workflows. Governance and process changes were established to control model-to-ledger data mappings and reconciliations, and to align actuarial run schedules with finance close activities. Improved actuarial calculation performance and enhanced connectivity to downstream finance systems were cited as explicit outcomes of the FIS Insurance Risk Suite implementation.
Analytics and BI
Vendor
Previous System
Application
Category
Market
VAR/SI
When
Live
Insight
FIS Global Legacy FIS Insurance Statutory Reporter Analytics and BI Analytics and BI n/a 2023 2024
In 2023 Magma General Insurance implemented FIS Insurance Statutory Reporter as part of a broader deployment of FIS Insurance Risk Suite to deliver an end-to-end IFRS 17 compliance solution. The implementation is categorized under Analytics and BI and targeted statutory and financial reporting workloads for the finance and actuarial teams in India. The deployment centralized reporting and accounting capabilities using FIS Insurance Statutory Reporter, with configuration focused on IFRS 17 reporting frameworks, actuarial-to-accounting data connectivity, and consolidated financial output generation. Workstreams included data mapping from actuarial results into accounting ledgers, structured statutory report generation, and retention of audit trails to support regulatory submissions. Operational scope covered finance and actuarial functions, aligning reporting workflows to meet regulatory and statutory reporting requirements in India. The program improved actuarial-to-accounting data connectivity and financial reporting accuracy for finance and actuarial teams, while embedding standardized reporting processes and controls through the FIS Insurance Statutory Reporter implementation.
Collaboration
Vendor
Previous System
Application
Category
Market
VAR/SI
When
Live
Insight
Microsoft Legacy Microsoft 365 Collaboration Collaboration n/a 2024 2024
Content Management
Vendor
Previous System
Application
Category
Market
VAR/SI
When
Live
Insight
Web Content Management Content Management 2025 2025
CRM
Vendor
Previous System
Application
Category
Market
VAR/SI
When
Live
Insight
Tag Management CRM 2020 2020
ITSM
Vendor
Previous System
Application
Category
Market
VAR/SI
When
Live
Insight
Application Performance Management ITSM 2020 2020
IaaS
Vendor
Previous System
Application
Category
Market
VAR/SI
When
Live
Insight
Application Hosting and Computing Services IaaS 2025 2025
Application Hosting and Computing Services IaaS 2024 2024
Content Delivery Network IaaS 2020 2020
Content Delivery Network IaaS 2020 2020
Content Delivery Network IaaS 2025 2025
Content Delivery Network IaaS 2025 2025
CyberSecurity
Vendor
Previous System
Application
Category
Market
VAR/SI
When
Live
Insight
Secure Sockets Layer (SSL) CyberSecurity 2025 2025
IT Decision Makers and Key Stakeholders at Magma General Insurance
First Name Last Name Title Function Department Email Phone
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Apps Being Evaluated by Magma General Insurance Executives
Date Company Status Vendor Product Category Market
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FAQ - APPS RUN THE WORLD Magma General Insurance Technographics

Magma General Insurance is a Insurance organization based in India, with around 1800 employees and annual revenues of $397.0 million.

Magma General Insurance operates a diverse technology stack with applications such as FIS Insurance Accounting Suite, FIS Insurance Statutory Reporter and Microsoft 365, covering areas like Insurance ERP, Analytics and BI and Collaboration.

Magma General Insurance has invested in cloud applications and AI-driven platforms to optimize efficiency and growth, collaborating with vendors such as FIS Global and Microsoft.

Magma General Insurance recently adopted applications including Liferay Digital Experience Platform (DXP) in 2025, Amazon EC2 in 2025 and Amazon CloudFront in 2025, highlighting its ongoing modernization strategy.

APPS RUN THE WORLD maintains an up-to-date database of Magma General Insurance’s key decision makers and IT executives, available to Premium subscribers.

Our research team continuously updates Magma General Insurance’s profile with verified software purchases, vendor relationships, and digital initiatives identified from public and proprietary sources.

Subscribe to APPS RUN THE WORLD to access the complete Magma General Insurance technographics profile, including detailed breakdowns by category, vendor, and IT decision makers.