SOURCE: MajescoMastek
December 17, 2008 12:40 ET
Island Insurance Selects MajescoMastek's STG Billing System
NEW YORK, NY--(Marketwire - December 17, 2008) - MajescoMastek, the U.S. subsidiary
of global technology solutions provider Mastek Limited (NSE: MASTEK), today
announced that Hawaii-based Island Insurance Company has
chosen its STG Billing System to support their direct and agency billing
lines of business. Through this agreement, MajescoMastek's STG Billing
System will be used to streamline, consolidate and centralize Island's
Direct Billing needs. Agency billing will be addressed in a second phase.
With the changing market, growing competition and the emerging needs of the
agents and producers, Island was looking for a proven and efficient system
to support their Direct Billing needs out of the box. After conducting a
detailed analysis, they found that MajescoMastek's STG Billing System in
its base form closely meets all their needs. With about 40 installations,
MajescoMastek has the requisite experience to help them reach the market
quickly.
"We were looking for a mature and proven solution that would allow us to
quickly address the requirements our insured and agents were demanding. STG
Billing offers us a proven and functionally rich platform that will support
the majority of our needs for direct billing out of the box. Add to it
their vast industry experience and 40-plus customer base, and they were the
right choice for us," stated Jeff Fabry, CIO, Island Insurance.
Billy McCarter, president of MajescoMastek's P&C Division, said, "Island
wanted a billing solution that will support their diverse needs for their
Personal and Commercial business. They were looking for a system that would
integrate into their existing platform, which is a combination of modern
and legacy systems. MajescoMastek has extensive expertise in managing such
projects and we look forward to leveraging this experience in building a
successful partnership with Island Insurance."
About Island Insurance Company
Founded in 1939, Island Insurance Company is Hawaii's largest locally owned
and managed property and casualty insurance carrier. Island Insurance has
been serving Hawaii's families and businesses for over 70 years and employs
over 180 people. It is the first and only Hawaii-based company to be
recognized as a Top 50 Property and Casualty Insurance company in the
nation by the Ward Group. Island Insurance provides all general property
and casualty insurance, predominately personal and commercial automobile
liability and physical damage coverages, solely in Hawaii. The company also
writes workers' compensation, homeowners, commercial multiple peril, renters,
condominium, dwelling
fire, flood
and umbrella
insurance, as well as insurance or businesses and surety bonds.
They enjoy an AM Best Rating of A (Excellent), and "A" (Strong) from Fitch
Ratings. For more information, visit: http://www.islandinsurance.com
About MajescoMastek
MajescoMastek, a global
technology solutions company focused on both life and annuity, and property
and casualty insurers, is part of the Mastek group with over $200 million
in revenues. MajescoMastek enables business transformation in its chosen
verticals of insurance, government and financial services. MajescoMastek
leverages its wide intellectual property base, domain expertise,
mission-critical program management abilities and complex solutions
capabilities to help insurance carriers use technology solutions to unlock
business value. With offices around the globe, the company employs over
4,000 people and has 17-plus years of insurance experience in North America
and a 100 percent implementation record. For more information, visit:
http://www.majescomastek.com